NEW YORK ( TheStreet) -- Luminex Corporation (Nasdaq: LMNX) has been upgraded by TheStreet Ratings from hold to buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

Luminex Corporation develops, manufactures, and sells proprietary biological testing technologies and products for applications in the life sciences and diagnostic industries in the United States. The company has a P/E ratio of 156.8, equal to the average health services industry P/E ratio and above the S&P 500 P/E ratio of 21.9. Luminex has a market cap of $796.1 million and is part of the health care sector and health services industry. Shares are up 2.3% year to date as of the close of trading on Tuesday.

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