Illumina Inc. (ILMN) Rating Reiterated by Cowen and Company
Illumina Inc. (NASDAQ:ILMN)‘s stock had its “outperform” rating restated by stock analysts at Cowen and Company in a note issued to investors on Wednesday. They currently have a $160.00 target price on the life sciences company’s stock. Cowen and Company’s price objective indicates a potential upside of 17.49% from the company’s current price.
A number of other analysts have also weighed in on the stock. Morgan Stanley lowered shares of Illumina from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $130.00 to $110.00 in a research note on Tuesday, July 5th. Vetr upgraded shares of Illumina from a “sell” rating to a “buy” rating and set a $198.61 price objective for the company in a research note on Monday, October 3rd. CL King lowered shares of Illumina from a “buy” rating to a “neutral” rating in a research note on Monday, August 22nd. Cantor Fitzgerald reduced their price target on shares of Illumina from $165.00 to $155.00 and set a “hold” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Illumina from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $157.50.
Shares of Illumina (NASDAQ:ILMN) traded down 2.02% during mid-day trading on Wednesday, hitting $136.18. 2,883,166 shares of the company were exchanged. The company has a market capitalization of $19.96 billion, a P/E ratio of 46.64 and a beta of 0.47. Illumina has a 52 week low of $127.10 and a 52 week high of $196.47. The company has a 50 day moving average of $174.05 and a 200 day moving average of $156.43.
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Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. The business earned $600 million during the quarter, compared to analyst estimates of $31.91 million. Illumina had a net margin of 18.73% and a return on equity of 23.69%. Illumina’s revenue was up 11.3% compared to the same quarter last year. During the same period last year, the business earned $0.80 EPS. Equities analysts anticipate that Illumina will post $3.53 earnings per share for the current year.
In other Illumina news, EVP Marc Stapley sold 1,270 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $172.87, for a total transaction of $219,544.90. Following the transaction, the executive vice president now owns 33,916 shares in the company, valued at $5,863,058.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Charles Dadswell sold 8,632 shares of the business’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $155.00, for a total transaction of $1,337,960.00. Following the transaction, the senior vice president now owns 40,248 shares in the company, valued at approximately $6,238,440. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Physicians Financial Services Inc. raised its stake in shares of Illumina by 2,121.2% in the second quarter. Physicians Financial Services Inc. now owns 733 shares of the life sciences company’s stock worth $103,000 after buying an additional 700 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Illumina by 25.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 789 shares of the life sciences company’s stock worth $110,000 after buying an additional 158 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Illumina during the second quarter worth about $112,000. Ropes Wealth Advisors LLC raised its stake in shares of Illumina by 72.6% in the second quarter. Ropes Wealth Advisors LLC now owns 863 shares of the life sciences company’s stock worth $121,000 after buying an additional 363 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its stake in shares of Illumina by 2.4% in the second quarter. Checchi Capital Advisers LLC now owns 958 shares of the life sciences company’s stock worth $134,000 after buying an additional 22 shares in the last quarter. Institutional investors and hedge funds 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.
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