Illumina Inc. (ILMN) Upgraded by Vetr Inc. to “Buy”
Illumina Inc. (NASDAQ:ILMN) was upgraded by stock analysts at Vetr from a “sell” rating to a “buy” rating in a research note issued on Monday. The firm currently has a $198.61 price target on the life sciences company’s stock. Vetr‘s price objective suggests a potential upside of 7.65% from the stock’s previous close.
Several other research analysts have also weighed in on ILMN. CL King initiated coverage on shares of Illumina in a research note on Tuesday, June 21st. They set a “buy” rating and a $165.00 price objective on the stock. Cantor Fitzgerald restated a “hold” rating on shares of Illumina in a research note on Wednesday, June 29th. Zacks Investment Research upgraded shares of Illumina from a “sell” rating to a “hold” rating in a research note on Monday, July 4th. Morgan Stanley lowered shares of Illumina from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $130.00 to $110.00 in a research note on Tuesday, July 5th. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $161.00 price objective on shares of Illumina in a research note on Friday, July 15th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $166.03.
Illumina (NASDAQ:ILMN) traded down 0.24% during midday trading on Monday, hitting $184.49. 773,003 shares of the company traded hands. The company has a market capitalization of $27.05 billion, a price-to-earnings ratio of 63.18 and a beta of 0.47. Illumina has a 12-month low of $127.10 and a 12-month high of $196.47. The stock’s 50-day moving average price is $174.63 and its 200 day moving average price is $156.32.
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Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.13. The company had revenue of $600 million for the quarter, compared to analyst estimates of $31.91 million. Illumina had a net margin of 18.73% and a return on equity of 23.69%. Illumina’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 EPS. On average, equities analysts forecast that Illumina will post $3.53 EPS for the current year.
In other news, Director A Blaine Bowman sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $147.14, for a total transaction of $735,700.00. Following the completion of the sale, the director now owns 20,704 shares of the company’s stock, valued at approximately $3,046,386.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jay T. Flatley sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $172.99, for a total transaction of $3,459,800.00. Following the sale, the director now directly owns 508,061 shares of the company’s stock, valued at approximately $87,889,472.39. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
Several hedge funds have recently modified their holdings of ILMN. Glenmede Trust Co. NA increased its stake 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 worth $593,000 after buying an additional 760 shares during the period. Commonwealth Equity Services Inc increased its stake in shares of Illumina by 2.4% in the first quarter. Commonwealth Equity Services Inc now owns 9,046 shares of the life sciences company’s stock worth $1,466,000 after buying an additional 215 shares during the period. Aperio Group LLC increased its stake in shares of Illumina by 5.8% in the first quarter. Aperio Group LLC now owns 37,664 shares of the life sciences company’s stock worth $6,106,000 after buying an additional 2,063 shares during the period. Virginia Retirement System purchased a new stake in shares of Illumina during the first quarter worth $385,000. Finally, IFP Advisors Inc increased its stake in shares of Illumina by 215.6% in the first quarter. IFP Advisors Inc now owns 1,133 shares of the life sciences company’s stock worth $184,000 after buying an additional 774 shares during the period. 95.22% of the stock is owned by institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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