Illumina Inc. (ILMN) Stock Rating Lowered by Citigroup Inc.
Illumina Inc. (NASDAQ:ILMN) was downgraded by research analysts at Citigroup Inc. to a “neutral” rating in a research report issued to clients and investors on Tuesday.
Several other equities analysts also recently issued reports on the company. Vetr downgraded Illumina from a “buy” rating to a “hold” rating and set a $187.86 target price on the stock. in a research report on Monday. Canaccord Genuity set a $165.00 price target on Illumina and gave the stock a “hold” rating in a research 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 research report on Friday, August 26th. CL King downgraded Illumina from a “buy” rating to a “neutral” rating in a research report on Monday, August 22nd. Finally, Argus increased their price target on Illumina from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $165.56.
Illumina (NASDAQ:ILMN) last released its earnings results on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $600 million for the quarter, compared to the consensus estimate of $31.91 million. During the same period in the prior year, the firm earned $0.80 EPS. The firm’s revenue was up 11.3% on a year-over-year basis.
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In other Illumina news, SVP Charles Dadswell sold 8,632 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $155.00, for a total value 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 approximately $6,238,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert S. Epstein sold 300 shares of the firm’s stock in a transaction that occurred 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 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. 1.60% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Asset Management Inc. increased its stake in shares of Illumina by 18.3% in the third quarter. Private Asset Management Inc. now owns 7,547 shares of the life sciences company’s stock worth $1,371,000 after buying an additional 1,170 shares in the last quarter. Telemus Capital LLC increased its stake in shares of Illumina by 7.1% in the third quarter. Telemus Capital LLC now owns 2,242 shares of the life sciences company’s stock worth $407,000 after buying an additional 149 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Illumina by 63.6% in the third quarter. BNP Paribas Arbitrage SA now owns 67,242 shares of the life sciences company’s stock worth $12,215,000 after buying an additional 26,144 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Illumina during the second quarter worth about $834,000. Finally, Kentucky Retirement Systems purchased a new stake in shares of Illumina during the second quarter worth about $1,757,000. 95.22% of the stock is currently 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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