Illumina Inc. (ILMN) Downgraded to Sell at Janney Montgomery Scott
Illumina Inc. (NASDAQ:ILMN) was downgraded by equities research analysts at Janney Montgomery Scott from a “neutral” rating to a “sell” rating in a research note issued on Tuesday, The Fly reports.
A number of other equities analysts have also recently commented on the company. Citigroup Inc. cut Illumina from a “buy” rating to a “neutral” rating in a report on Tuesday. Vetr cut Illumina from a “buy” rating to a “hold” rating and set a $187.86 target price on the stock. in a report on Monday. Canaccord Genuity set a $165.00 target price on Illumina and gave the stock a “hold” rating in a report on Friday. Zacks Investment Research raised Illumina from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a report on Friday, August 26th. Finally, CL King cut Illumina from a “buy” rating to a “neutral” rating in a report on Monday, August 22nd. Two 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. Illumina has an average rating of “Hold” and an average target price of $165.12.
Illumina (NASDAQ:ILMN) opened at 139.52 on Tuesday. Illumina has a 12-month low of $127.10 and a 12-month high of $196.47. The stock has a market capitalization of $20.45 billion, a PE ratio of 47.78 and a beta of 0.47. The stock has a 50 day moving average price of $175.01 and a 200-day moving average price of $156.56.
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Illumina (NASDAQ:ILMN) last announced its earnings results on Tuesday, July 26th. The life sciences company reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.13. Illumina had a return on equity of 23.69% and a net margin of 18.73%. The company had revenue of $600 million for the quarter, compared to analysts’ expectations of $31.91 million. During the same period last year, the firm earned $0.80 EPS. Illumina’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts anticipate that Illumina will post $3.53 earnings per share for the current fiscal year.
In other Illumina news, Director Robert S. Epstein sold 300 shares of Illumina stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $174.29, for a total value of $52,287.00. Following the transaction, the director now directly owns 6,924 shares of the company’s stock, valued at $1,206,783.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert S. Epstein sold 1,200 shares of Illumina stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $150.00, for a total transaction of $180,000.00. Following the completion of the transaction, the director now directly owns 7,824 shares in the company, valued at $1,173,600. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Cleararc Capital Inc. raised its position in Illumina by 0.7% in the first quarter. Cleararc Capital Inc. now owns 3,344 shares of the life sciences company’s stock valued at $542,000 after buying an additional 23 shares in the last quarter. Tiverton Asset Management LLC purchased a new position in Illumina during the first quarter valued at about $2,372,000. Riverhead Capital Management LLC raised its position in Illumina by 130.5% in the first quarter. Riverhead Capital Management LLC now owns 11,873 shares of the life sciences company’s stock valued at $1,924,000 after buying an additional 6,723 shares in the last quarter. Marsico Capital Management LLC raised its position in Illumina by 4.8% in the first quarter. Marsico Capital Management LLC now owns 11,898 shares of the life sciences company’s stock valued at $1,929,000 after buying an additional 546 shares in the last quarter. Finally, State Farm Mutual Automobile Insurance Co. raised its position in Illumina by 39.5% in the first quarter. State Farm Mutual Automobile Insurance Co. now owns 61,570 shares of the life sciences company’s stock valued at $9,981,000 after buying an additional 17,440 shares in the last quarter. 95.22% of the stock is currently owned by institutional investors and hedge funds.
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.
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