Luminex (LMNX -4.5%) slips after Wedbush initiated coverage with a cautious Neutral rating and $17 price target - near current levels. Wedbush says the company's business with Labcorp is slipping, and increasing competitive risks in the key respiratory diagnostics business, along with potential headwinds following the heavy Q113 flu season, leave its current multiple in question. The firm adds that the stock is presently trading at a premium to the life science tools group, and near-term expectations are too high.