Illumina Inc. (NASDAQ:ILMN) was downgraded by stock analysts at Janney Montgomery Scott from a “neutral” rating to a “sell” rating in a note issued to investors on Tuesday. They currently have a $125.00 target price on the life sciences company’s stock, down from their prior target price of $155.00. Janney Montgomery Scott’s target price indicates a potential downside of 8.21% from the company’s current price.
Several other equities analysts have also weighed in on ILMN. CL King initiated coverage on shares of Illumina in a report on Tuesday, June 21st. They set a “buy” rating and a $165.00 target price for the company. Cantor Fitzgerald reaffirmed a “hold” rating on shares of Illumina in a report on Wednesday, June 29th. Zacks Investment Research raised shares of Illumina from a “sell” rating to a “hold” rating in a report on Monday, July 4th. Morgan Stanley lowered shares of Illumina from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $130.00 to $110.00 in a report on Tuesday, July 5th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $161.00 target price on shares of Illumina in a report on Friday, July 15th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $157.50.
Shares of Illumina (NASDAQ:ILMN) opened at 136.18 on Tuesday. Illumina has a 1-year low of $127.10 and a 1-year high of $196.47. The company’s 50-day moving average is $172.97 and its 200-day moving average is $156.29. The stock has a market cap of $19.96 billion, a P/E ratio of 46.64 and a beta of 0.47.
Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. Illumina had a net margin of 18.73% and a return on equity of 23.69%. The company earned $600 million during the quarter, compared to analyst estimates of $31.91 million. During the same period last year, the firm posted $0.80 EPS. Illumina’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities analysts expect that Illumina will post $3.53 EPS for the current fiscal year.
In related news, Director Daniel Bradbury sold 600 shares of the company’s stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $184.36, for a total value of $110,616.00. Following the completion of the transaction, the director now directly owns 17,065 shares of the company’s stock, valued at $3,146,103.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jay T. Flatley sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $172.99, for a total value of $3,459,800.00. Following the completion of the transaction, the director now directly owns 508,061 shares of the company’s stock, valued at $87,889,472.39. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ILMN. Capital Research Global Investors increased its position 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. Capital World Investors increased its position 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. Baillie Gifford & Co. increased 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 period. Rockefeller Financial Services Inc. increased its position in shares of Illumina by 11,812.5% in the second quarter. Rockefeller Financial Services Inc. now owns 271,962 shares of the life sciences company’s stock worth $38,177,000 after buying an additional 269,679 shares during the period. Finally, Eaton Vance Management increased its position in shares of Illumina by 1,107.7% in the second quarter. Eaton Vance Management now owns 196,643 shares of the life sciences company’s stock worth $27,605,000 after buying an additional 180,361 shares during the period. 95.22% of the stock is owned by hedge funds and other 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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