Illumina Inc. (ILMN) Earns Market Perform Rating from Wells Fargo & Co.
Illumina Inc. (NASDAQ:ILMN)‘s stock had its “market perform” rating reissued by analysts at Wells Fargo & Co. in a report released on Wednesday. They presently have a $137.50 price target on the life sciences company’s stock, down from their previous price target of $150.00. Wells Fargo & Co.’s price target points to a potential upside of 0.97% from the stock’s previous close.
Several other analysts have also recently weighed in on ILMN. CL King started coverage on Illumina in a report on Tuesday, June 21st. They set a “buy” rating and a $165.00 price target on the stock. Cantor Fitzgerald restated a “hold” rating on shares of Illumina in a report on Wednesday, June 29th. Zacks Investment Research upgraded Illumina from a “sell” rating to a “hold” rating in a report on Monday, July 4th. Morgan Stanley cut Illumina from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $130.00 to $110.00 in a report on Tuesday, July 5th. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $161.00 price target on shares of Illumina in a report on Friday, July 15th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Illumina currently has a consensus rating of “Hold” and an average target price of $158.34.
Shares of Illumina (NASDAQ:ILMN) traded down 2.02% during mid-day trading on Wednesday, reaching $136.18. 2,882,037 shares of the company’s stock traded hands. The company has a 50 day moving average of $174.01 and a 200 day moving average of $156.43. Illumina has a 12 month low of $127.10 and a 12 month high of $196.47. The company has a market cap of $19.96 billion, a price-to-earnings ratio of 46.64 and a beta of 0.47.
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Illumina (NASDAQ:ILMN) last issued its 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 firm 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 business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.80 earnings per share. 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 stock in a transaction on 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 transaction, the senior vice president now owns 40,248 shares in the company, valued at approximately $6,238,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director A Blaine Bowman sold 5,000 shares of the 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 transaction, the director now owns 20,704 shares of the company’s stock, valued at approximately $3,046,386.56. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ILMN. Checchi Capital Advisers LLC increased its position 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 during the last quarter. Cleararc Capital Inc. increased 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 during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in 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 valued at $467,000 after buying an additional 39 shares during the last quarter. Nippon Life Insurance Co. increased its position in Illumina by 0.5% in the second quarter. Nippon Life Insurance Co. now owns 7,877 shares of the life sciences company’s stock valued at $1,106,000 after buying an additional 40 shares during the last quarter. Finally, Regent Investment Management LLC increased its position in Illumina by 1.8% in the second quarter. Regent Investment Management LLC now owns 4,250 shares of the life sciences company’s stock valued at $597,000 after buying an additional 75 shares during the last quarter. Institutional investors own 95.22% of the company’s stock.
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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