Cowen and Company reissued their outperform rating on shares of Illumina Inc. (NASDAQ:ILMN) in a research report sent to investors on Wednesday morning. The firm currently has a $160.00 price target on the life sciences company’s stock.
ILMN has been the subject of several other reports. Citigroup Inc. lifted their price target on Illumina from $175.00 to $190.00 and gave the company a buy rating in a report on Monday, September 12th. Canaccord Genuity set a $136.00 price target on Illumina and gave the company a hold rating in a report on Friday, October 7th. Vetr upgraded Illumina from a sell rating to a buy rating and set a $198.61 price target for the company in a report on Monday, October 3rd. CL King lowered Illumina from a buy rating to a neutral rating in a report on Monday, August 22nd. Finally, Morgan Stanley lowered Illumina from an equal weight rating to an underweight rating and reduced their price target for the company from $130.00 to $110.00 in a report on Tuesday, July 5th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Hold and a consensus price target of $157.50.
Illumina (NASDAQ:ILMN) traded down 0.54% during trading on Wednesday, hitting $135.45. The stock had a trading volume of 486,802 shares. Illumina has a 52 week low of $127.10 and a 52 week high of $196.47. The company’s 50-day moving average is $172.97 and its 200 day moving average is $156.29. The firm has a market cap of $19.86 billion, a PE ratio of 46.39 and a beta of 0.47.
Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.13. The business earned $600 million during the quarter, compared to analyst estimates of $31.91 million. Illumina had a return on equity of 23.69% and a net margin of 18.73%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 EPS. Equities analysts expect that Illumina will post $3.53 EPS for the current fiscal year.
In other news, SVP Charles Dadswell sold 8,632 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $155.00, for a total transaction of $1,337,960.00. Following the transaction, the senior vice president now owns 40,248 shares of the company’s stock, valued at $6,238,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel Bradbury sold 600 shares of the company’s stock in a transaction 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 in the company, valued at approximately $3,146,103.40. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the stock. Glenmede Trust Co. NA raised its position in shares of Illumina by 26.2% in the first quarter. Glenmede Trust Co. NA now owns 3,660 shares of the life sciences company’s stock valued at $593,000 after buying an additional 760 shares during the period. Virginia Retirement System purchased a new position in shares of Illumina during the first quarter valued at about $385,000. NN Investment Partners Holdings N.V. bought a new stake in Illumina during the first quarter worth approximately $403,000. Menta Capital LLC bought a new stake in Illumina during the first quarter worth approximately $603,000. Finally, Aviva PLC increased its stake in Illumina by 2.4% in the first quarter. Aviva PLC now owns 75,222 shares of the life sciences company’s stock worth $12,194,000 after buying an additional 1,749 shares in the last quarter. 95.22% of the stock is currently owned by institutional investors and hedge funds.
Illumina Company Profile
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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