Illumina’s (ILMN) Overweight Rating Reaffirmed at Piper Jaffray Companies

Piper Jaffray Companies reaffirmed their overweight rating on shares of Illumina, Inc. (NASDAQ:ILMN) in a research note issued to investors on Monday morning. Piper Jaffray Companies currently has a $226.00 price target on the life sciences company’s stock, up from their previous price target of $202.00.

Other equities research analysts also recently issued research reports about the stock. Vetr downgraded shares of Illumina from a strong-buy rating to a buy rating and set a $197.84 price objective for the company. in a report on Wednesday, June 21st. Zacks Investment Research raised shares of Illumina from a hold rating to a buy rating and set a $195.00 price objective for the company in a report on Thursday, July 27th. Canaccord Genuity raised shares of Illumina from a hold rating to a buy rating and upped their price objective for the stock from $170.00 to $215.00 in a report on Monday, August 7th. Argus upped their price objective on shares of Illumina from $205.00 to $235.00 and gave the stock a buy rating in a report on Wednesday, September 13th. Finally, First Analysis raised shares of Illumina from an underweight rating to an equal weight rating and set a $176.00 price objective for the company in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $184.86.

Shares of Illumina (NASDAQ ILMN) opened at 203.27 on Monday. The firm has a market cap of $29.68 billion, a PE ratio of 40.78 and a beta of 0.76. Illumina has a 1-year low of $119.37 and a 1-year high of $214.34. The stock has a 50 day moving average of $202.97 and a 200 day moving average of $184.91.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Tuesday, August 1st. The life sciences company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.68 by $0.14. The business had revenue of $662.00 million during the quarter, compared to analyst estimates of $642.38 million. Illumina had a net margin of 30.27% and a return on equity of 19.69%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Equities research analysts anticipate that Illumina will post $3.65 earnings per share for the current fiscal year.

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In related news, Director Jay T. Flatley sold 22,540 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $195.21, for a total value of $4,400,033.40. Following the transaction, the director now owns 539,176 shares in the company, valued at $105,252,546.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jay T. Flatley sold 15,000 shares of the stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $170.77, for a total value of $2,561,550.00. Following the completion of the transaction, the director now owns 534,176 shares in the company, valued at approximately $91,221,235.52. The disclosure for this sale can be found here. Insiders sold a total of 178,516 shares of company stock worth $34,995,591 in the last quarter. 1.60% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in ILMN. Advisory Services Network LLC increased its holdings in Illumina by 13.0% in the second quarter. Advisory Services Network LLC now owns 772 shares of the life sciences company’s stock worth $134,000 after buying an additional 89 shares during the last quarter. Penserra Capital Management LLC boosted its position in Illumina by 13.0% during the second quarter. Penserra Capital Management LLC now owns 884 shares of the life sciences company’s stock worth $153,000 after purchasing an additional 102 shares during the period. Paradigm Asset Management Co. LLC boosted its position in 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 during the period. Patten Group Inc. boosted its position in Illumina by 2.7% during the first quarter. Patten Group Inc. now owns 965 s

Other equities research analysts also recently issued research reports about the stock. Vetr downgraded shares of Illumina from a strong-buy rating to a buy rating and set a $197.84 price objective for the company. in a report on Wednesday, June 21st. Zacks Investment Research raised shares of Illumina from a hold rating to a buy rating and set a $195.00 price objective for the company in a report on Thursday, July 27th. Canaccord Genuity raised shares of Illumina from a hold rating to a buy rating and upped their price objective for the stock from $170.00 to $215.00 in a report on Monday, August 7th. Argus upped their price objective on shares of Illumina from $205.00 to $235.00 and gave the stock a buy rating in a report on Wednesday, September 13th. Finally, First Analysis raised shares of Illumina from an underweight rating to an equal weight rating and set a $176.00 price objective for the company in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $184.86.

Shares of Illumina (NASDAQ ILMN) opened at 203.27 on Monday. The firm has a market cap of $29.68 billion, a PE ratio of 40.78 and a beta of 0.76. Illumina has a 1-year low of $119.37 and a 1-year high of $214.34. The stock has a 50 day moving average of $202.97 and a 200 day moving average of $184.91.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Tuesday, August 1st. The life sciences company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.68 by $0.14. The business had revenue of $662.00 million during the quarter, compared to analyst estimates of $642.38 million. Illumina had a net margin of 30.27% and a return on equity of 19.69%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Equities research analysts anticipate that Illumina will post $3.65 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece of content was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece of content on another site, it was illegally copied and republished in violation of U.S. & international copyright and trademark laws. The legal version of this piece of content can be accessed at https://ledgergazette.com/2017/10/10/illuminas-ilmn-overweight-rating-reaffirmed-at-piper-jaffray-companies.html.

In related news, Director Jay T. Flatley sold 22,540 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $195.21, for a total value of $4,400,033.40. Following the transaction, the director now owns 539,176 shares in the company, valued at $105,252,546.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jay T. Flatley sold 15,000 shares of the stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $170.77, for a total value of $2,561,550.00. Following the completion of the transaction, the director now owns 534,176 shares in the company, valued at approximately $91,221,235.52. The disclosure for this sale can be found here. Insiders sold a total of 178,516 shares of company stock worth $34,995,591 in the last quarter. 1.60% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in ILMN. Advisory Services Network LLC increased its holdings in Illumina by 13.0% in the second quarter. Advisory Services Network LLC now owns 772 shares of the life sciences company’s stock worth $134,000 after buying an additional 89 shares during the last quarter. Penserra Capital Management LLC boosted its position in Illumina by 13.0% during the second quarter. Penserra Capital Management LLC now owns 884 shares of the life sciences company’s stock worth $153,000 after purchasing an additional 102 shares during the period. Paradigm Asset Management Co. LLC boosted its position in 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 during the period. Patten Group Inc. boosted its position in Illumina by 2.7% during the first quarter. Patten Group Inc. now owns 965 shares of the life sciences company’s stock worth $166,000 after purchasing an additional 25 shares during the period. Finally, NN Investment Partners Holdings N.V. boosted its position in Illumina by 11.3% during the second quarter. NN Investment Partners Holdings N.V. now owns 985 shares of the life sciences company’s stock worth $171,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 93.32% of the company’s stock.

About Illumina

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.

Analyst Recommendations for Illumina (NASDAQ:ILMN)

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