Illumina, Inc. (NASDAQ:ILMN) was upgraded by investment analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $217.50 target price on the life sciences company’s stock. Vetr‘s target price would suggest a potential upside of 6.12% from the company’s previous close.
ILMN has been the subject of several other research reports. BidaskClub lowered Illumina from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Zacks Investment Research lowered Illumina from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $250.00 price target on shares of Illumina in a research report on Wednesday, August 2nd. First Analysis upgraded Illumina from an “underweight” rating to an “equal weight” rating and set a $176.00 price target for the company in a research report on Wednesday, August 2nd. Finally, Leerink Swann reiterated an “outperform” rating and issued a $225.00 price target (up previously from $207.00) on shares of Illumina in a research report on Tuesday, September 12th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. Illumina currently has a consensus rating of “Hold” and an average target price of $182.15.
Shares of Illumina (NASDAQ:ILMN) traded down 2.13% during midday trading on Tuesday, reaching $204.95. The company had a trading volume of 1,045,834 shares. Illumina has a 52 week low of $119.37 and a 52 week high of $214.34. The stock has a 50-day moving average of $199.76 and a 200 day moving average of $181.17. The firm has a market capitalization of $29.92 billion, a price-to-earnings ratio of 41.12 and a beta of 0.81.
Illumina (NASDAQ:ILMN) last issued its earnings results on Tuesday, August 1st. The life sciences company reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.14. Illumina had a return on equity of 19.69% and a net margin of 30.27%. The firm had revenue of $662.00 million for the quarter, compared to analysts’ expectations of $642.38 million. During the same period in the previous year, the firm posted $0.86 earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. On average, analysts anticipate that Illumina will post $3.65 earnings per share for the current year.
In other news, CAO Michel Bouchard sold 616 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $200.00, for a total transaction of $123,200.00. Following the transaction, the chief accounting officer now directly owns 15,161 shares of the company’s stock, valued at $3,032,200. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Oene Mark Van sold 9,729 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $211.33, for a total value of $2,056,029.57. Following the transaction, the senior vice president now directly owns 24,908 shares in the company, valued at $5,263,807.64. The disclosure for this sale can be found here. Insiders sold 195,434 shares of company stock valued at $37,480,647 in the last three months. 1.60% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC increased its position in shares of Illumina by 1.4% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 3,126 shares of the life sciences company’s stock worth $528,000 after purchasing an additional 43 shares in the last quarter. Paradigm Asset Management Co. LLC increased its position in shares of Illumina by 5.6% during the second quarter. Paradigm Asset Management Co. LLC now owns 950 shares of the life sciences company’s stock worth $165,000 after purchasing an additional 50 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Illumina by 298.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 10,447 shares of the life sciences company’s stock worth $1,813,000 after purchasing an additional 7,827 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in shares of Illumina during the second quarter worth $27,175,000. Finally, Bank of Nova Scotia increased its position in shares of Illumina by 265.4% during the first quarter. Bank of Nova Scotia now owns 86,202 shares of the life sciences company’s stock worth $14,710,000 after purchasing an additional 62,612 shares in the last quarter. 93.32% of the stock is currently owned by institutional investors and hedge funds.
Illumina, Inc (Illumina) is a provider of sequencing- and array-based solutions for genetic analysis. The Company operates through two segments: Core Illumina and the consolidated variable interest entities (VIEs), which include the activities of GRAIL, Inc (GRAIL) and Helix Holdings I, LLC (Helix). Core Illumina consists of its core operations.
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