Illumina Inc. (ILMN) Downgraded by Janney Montgomery Scott to “Sell”
Illumina Inc. (NASDAQ:ILMN) was downgraded by analysts at Janney Montgomery Scott from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, The Fly reports.
ILMN has been the subject of several other research reports. Canaccord Genuity set a $165.00 target price on shares of Illumina and gave the stock a “hold” rating in a report on Friday. Vetr cut shares of Illumina from a “buy” rating to a “hold” rating and set a $187.86 target price for the company. in a report on Monday. Citigroup Inc. cut shares of Illumina from a “buy” rating to a “neutral” rating in a report on Tuesday. CL King cut shares of Illumina from a “buy” rating to a “neutral” rating in a report on Monday, August 22nd. Finally, Zacks Investment Research raised shares of Illumina from a “hold” rating to a “buy” rating and set a $190.00 target price for the company in a report on Friday, August 26th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $165.12.
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 the Zacks’ consensus estimate of $0.73 by $0.13. The business earned $600 million during the quarter, compared to analysts’ expectations of $31.91 million. Illumina had a net margin of 18.73% and a return on equity of 23.69%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the company posted $0.80 earnings per share.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/illumina-inc-ilmn-downgraded-by-janney-montgomery-scott-to-sell.html
In other Illumina news, SVP Charles Dadswell sold 8,632 shares of Illumina stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $155.00, for a total transaction of $1,337,960.00. Following the transaction, the senior vice president now directly owns 40,248 shares of the company’s stock, valued at $6,238,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert S. Epstein sold 300 shares of Illumina stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $174.29, for a total transaction of $52,287.00. Following the transaction, the director now directly owns 6,924 shares in the company, valued at $1,206,783.96. 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 modified their holdings of ILMN. Checchi Capital Advisers LLC increased its position in shares of Illumina by 2.4% in the second quarter. Checchi Capital Advisers LLC now owns 958 shares of the life sciences company’s stock worth $134,000 after buying an additional 22 shares during the period. Cleararc Capital Inc. increased its position in shares of Illumina by 0.7% in the first quarter. Cleararc Capital Inc. now owns 3,344 shares of the life sciences company’s stock worth $542,000 after buying an additional 23 shares during the period. Mn Services Vermogensbeheer B.V. increased its position in shares of Illumina by 1.1% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 3,698 shares of the life sciences company’s stock worth $467,000 after buying an additional 39 shares during the period. Nippon Life Insurance Co. increased its position in shares of Illumina by 0.5% in the second quarter. Nippon Life Insurance Co. now owns 7,877 shares of the life sciences company’s stock worth $1,106,000 after buying an additional 40 shares during the period. Finally, Regent Investment Management LLC increased its position in shares of Illumina by 1.8% in the second quarter. Regent Investment Management LLC now owns 4,250 shares of the life sciences company’s stock worth $597,000 after buying an additional 75 shares during the period. 95.22% of the stock is currently 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.
Receive News & Ratings for Illumina Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illumina Inc. and related companies with MarketBeat.com's FREE daily email newsletter.