Illumina Hits New 52-Week High After Analyst Upgrade (ILMN)
Illumina (NASDAQ:ILMN) reached a new 52-week high during mid-day trading on Tuesday after Bank of America raised their price target on the stock from $165.00 to $190.00, Stock Ratings Network.com reports. The company traded as high as $173.00 and last traded at $169.68, with a volume of 1,059,314 shares. The stock had previously closed at $164.33.
Other equities research analysts have also recently issued reports about the stock. Analysts at Leerink Swann set a $160.00 price target on shares of Illumina in a research note on Wednesday, January 29th. Separately, analysts at Mizuho raised their price target on shares of Illumina from $150.00 to $175.00 in a research note on Wednesday, January 29th. They now have a “buy” rating on the stock. Finally, analysts at ISI Group raised their price target on shares of Illumina from $134.50 to $147.00 in a research note on Wednesday, January 29th. They now have a “neutral” rating on the stock. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $118.71.
In other Illumina news, CEO Jay Flatley sold 30,000 shares of Illumina stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $160.43, for a total value of $4,812,900.00. Following the completion of the transaction, the chief executive officer now directly owns 385,105 shares of the company’s stock, valued at approximately $61,782,395. The sale was disclosed in a legal filing with the SEC, which is available at this link.
The stock’s 50-day moving average is $135.5 and its 200-day moving average is $99.40. The company has a market cap of $21.564 billion and a price-to-earnings ratio of 182.59.
Illumina (NASDAQ:ILMN) last released its earnings data on Tuesday, January 28th. The company reported $0.45 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.44 by $0.01. The company had revenue of $387.00 million for the quarter, compared to the consensus estimate of $382.06 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 25.1% on a year-over-year basis. Analysts expect that Illumina will post $2.06 EPS for the current fiscal year.
Illumina, Inc (NASDAQ:ILMN) is a developer and manufacturer of life science tools and integrated systems for the analysis of genetic variation and function.
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