Illumina Inc. (ILMN) Rating Increased to Strong-Buy at Vetr Inc.
Illumina Inc. (NASDAQ:ILMN) was upgraded by Vetr from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $165.56 price target on the life sciences company’s stock. Vetr‘s price target would suggest a potential upside of 19.12% from the company’s current price.
ILMN has been the subject of a number of other reports. Zacks Investment Research raised Illumina from a “sell” rating to a “hold” rating in a research note on Monday, July 4th. CL King downgraded Illumina from a “buy” rating to a “neutral” rating in a research note on Monday, August 22nd. Piper Jaffray Cos. restated an “overweight” rating and issued a $161.00 price target on shares of Illumina in a report on Friday, July 15th. Cantor Fitzgerald lowered their price target on Illumina from $165.00 to $155.00 and set a “hold” rating on the stock in a report on Tuesday. Finally, Barclays PLC set a $142.00 price target on Illumina and gave the stock a “hold” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $159.24.
Shares of Illumina (NASDAQ:ILMN) traded down 24.81% during mid-day trading on Tuesday, hitting $138.99. The stock had a trading volume of 11,033,440 shares. The company has a market cap of $20.38 billion, a PE ratio of 47.60 and a beta of 0.47. The stock has a 50 day moving average price of $174.01 and a 200-day moving average price of $156.43. Illumina has a 52-week low of $127.10 and a 52-week high of $196.47.
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Illumina (NASDAQ:ILMN) last issued its earnings results on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The business earned $600 million during the quarter, compared to the consensus estimate of $31.91 million. Illumina had a return on equity of 23.69% and a net margin of 18.73%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 EPS. On average, equities analysts expect that Illumina will post $3.53 earnings per share for the current fiscal year.
In other news, SVP Charles Dadswell sold 8,632 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $155.00, for a total transaction of $1,337,960.00. Following the completion of the sale, the senior vice president now directly owns 40,248 shares in the company, valued at $6,238,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director A Blaine Bowman sold 5,000 shares of the firm’s stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $147.14, for a total value of $735,700.00. Following the sale, the director now owns 20,704 shares of the company’s stock, valued at $3,046,386.56. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. increased its stake in shares of Illumina by 3.8% in the second quarter. Baillie Gifford & Co. now owns 18,615,061 shares of the life sciences company’s stock valued at $2,613,182,000 after buying an additional 682,010 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Illumina by 17.1% in the second quarter. Capital Research Global Investors now owns 13,085,071 shares of the life sciences company’s stock valued at $1,836,882,000 after buying an additional 1,910,346 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Illumina by 2.0% in the second quarter. Vanguard Group Inc. now owns 8,982,784 shares of the life sciences company’s stock valued at $1,261,004,000 after buying an additional 178,186 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Illumina by 1.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,835,363 shares of the life sciences company’s stock valued at $538,408,000 after buying an additional 43,515 shares in the last quarter. Finally, Capital World Investors increased its stake in shares of Illumina by 218.0% in the second quarter. Capital World Investors now owns 1,463,000 shares of the life sciences company’s stock valued at $205,376,000 after buying an additional 1,003,000 shares in the last quarter. Institutional investors own 95.22% of the company’s stock.
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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