While I'm not opposed to paying up for a strong growth story, particularly in an area like molecular diagnostics (MDx), I think there are too many questions about the basic business model at Luminex (LMNX) to pay up for this stock today. The company does indeed have significant potential and large addressable markets, but the combination of inherent business model volatility, less than full control on product development, and rampant technological and commercial competition are all significant factors as well.
No Hyper-Growth, But Good Growth All The Same
Luminex has never really produced the same blistering growth that Cepheid (CPHD) has seen at various times, but the company has nevertheless been fairly consistent with double-digit revenue...
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