Illumina Inc. (ILMN) Given New $135.00 Price Target at Canaccord Genuity
Illumina Inc. (NASDAQ:ILMN) had its price objective lowered by equities researchers at Canaccord Genuity to $135.00 in a research note issued on Tuesday. Canaccord Genuity’s price target would suggest a potential downside of 26.97% from the company’s previous close.
Several other brokerages have also commented on ILMN. JPMorgan Chase & Co. upped their price target on Illumina from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 27th. Cantor Fitzgerald reaffirmed a “hold” rating on shares of Illumina in a research report on Wednesday, June 29th. Vetr downgraded Illumina from a “buy” rating to a “hold” rating and set a $187.86 target price for the company. in a research report on Monday. Argus upped their target price on Illumina from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, August 8th. Finally, Mizuho upped their target price on Illumina from $138.00 to $148.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Illumina currently has a consensus rating of “Hold” and a consensus target price of $160.21.
Illumina (NASDAQ:ILMN) traded down 25.16% on Tuesday, reaching $138.35. The company’s stock had a trading volume of 9,469,747 shares. Illumina has a 52 week low of $127.10 and a 52 week high of $196.47. The firm’s 50 day moving average price is $175.01 and its 200-day moving average price is $156.56. The company has a market capitalization of $20.28 billion, a price-to-earnings ratio of 47.38 and a beta of 0.47.
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Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Tuesday, July 26th. The life sciences company reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.13. The company earned $600 million during the quarter, compared to analyst estimates of $31.91 million. Illumina had a return on equity of 23.69% and a net margin of 18.73%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 earnings per share. On average, equities analysts predict that Illumina will post $3.53 EPS for the current year.
In other news, Director Robert S. Epstein sold 300 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $174.29, for a total transaction of $52,287.00. Following the completion of the sale, the director now directly owns 6,924 shares of the company’s stock, valued at approximately $1,206,783.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director A Blaine Bowman sold 5,000 shares of the firm’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $147.14, for a total value of $735,700.00. Following the sale, the director now directly owns 20,704 shares of the company’s stock, valued at $3,046,386.56. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Physicians Financial Services Inc. raised its stake in Illumina by 2,121.2% in the second quarter. Physicians Financial Services Inc. now owns 733 shares of the life sciences company’s stock valued at $103,000 after buying an additional 700 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Illumina by 25.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 789 shares of the life sciences company’s stock valued at $110,000 after buying an additional 158 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in Illumina during the second quarter valued at $112,000. Ropes Wealth Advisors LLC raised its stake in Illumina by 72.6% in the second quarter. Ropes Wealth Advisors LLC now owns 863 shares of the life sciences company’s stock valued at $121,000 after buying an additional 363 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its stake in Illumina by 2.4% in the second quarter. Checchi Capital Advisers LLC now owns 958 shares of the life sciences company’s stock valued at $134,000 after buying an additional 22 shares in the last quarter. 95.22% of the stock is owned by institutional investors and hedge funds.
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.
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