Argus reiterated their buy rating on shares of Illumina Inc. (NASDAQ:ILMN) in a research report sent to investors on Friday morning. Argus currently has a $170.00 target price on the life sciences company’s stock, down from their prior target price of $205.00.
ILMN has been the topic of several other reports. Zacks Investment Research upgraded Illumina from a sell rating to a hold rating in a research report on Monday, July 4th. CL King downgraded Illumina from a buy rating to a neutral rating in a report on Monday, August 22nd. Piper Jaffray Cos. reissued an overweight rating and issued a $161.00 target price on shares of Illumina in a report on Friday, July 15th. Wells Fargo & Co. reissued a market perform rating and issued a $137.50 target price (down from $150.00) on shares of Illumina in a report on Wednesday, October 12th. Finally, Vetr raised Illumina from a sell rating to a buy rating and set a $198.61 target price on the stock in a report on Monday, October 3rd. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $156.88.
Illumina (NASDAQ:ILMN) traded up 0.57% on Friday, hitting $138.78. The stock had a trading volume of 340,849 shares. Illumina has a 52 week low of $127.10 and a 52 week high of $196.47. The company has a market capitalization of $20.35 billion, a price-to-earnings ratio of 47.53 and a beta of 0.47. The firm has a 50-day moving average of $171.14 and a 200 day moving average of $156.05.
Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.13. Illumina had a return on equity of 23.69% and a net margin of 18.73%. The company had revenue of $600 million for the quarter, compared to analyst estimates of $31.91 million. During the same period in the previous year, the company posted $0.80 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. On average, analysts predict that Illumina will post $3.53 earnings per share for the current year.
In related news, Director Robert S. Epstein sold 1,200 shares of the stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $150.00, for a total transaction of $180,000.00. Following the completion of the transaction, the director now directly owns 7,824 shares of the company’s stock, valued at $1,173,600. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel Bradbury sold 600 shares of the stock in a transaction that occurred on Friday, October 7th. The shares were sold at an average price of $184.36, for a total value of $110,616.00. Following the transaction, the director now directly owns 17,065 shares of the company’s stock, valued at $3,146,103.40. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. raised its position in shares of Illumina by 3.8% in the second quarter. Baillie Gifford & Co. now owns 18,615,061 shares of the life sciences company’s stock worth $2,613,182,000 after buying an additional 682,010 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Illumina by 17.1% in the second quarter. Capital Research Global Investors now owns 13,085,071 shares of the life sciences company’s stock worth $1,836,882,000 after buying an additional 1,910,346 shares during the period. Vanguard Group Inc. increased its stake in shares of Illumina by 2.0% in the second quarter. Vanguard Group Inc. now owns 8,982,784 shares of the life sciences company’s stock worth $1,261,004,000 after buying an additional 178,186 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Illumina by 1.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,835,363 shares of the life sciences company’s stock worth $538,408,000 after buying an additional 43,515 shares during the period. Finally, Capital World Investors increased its stake in shares of Illumina by 218.0% in the second quarter. Capital World Investors now owns 1,463,000 shares of the life sciences company’s stock worth $205,376,000 after buying an additional 1,003,000 shares during the period. 95.24% of the stock is owned by institutional investors.
Illumina, Inc (Illumina) offers sequencing and array-based solutions for genetic analysis. The Company’s products and services serve customers in a range of markets, enabling the adoption of genomic solutions in research and clinical settings. The Company’s customers include genomic research centers, academic institutions, government laboratories and hospitals, as well as pharmaceutical, biotechnology, agrigenomics and commercial molecular diagnostic laboratories, and consumer genomics companies.
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