Illumina’s (ILMN) “Market Perform” Rating Reaffirmed at Wells Fargo & Co.
Illumina Inc. (NASDAQ:ILMN)‘s stock had its “market perform” rating reaffirmed by Wells Fargo & Co. in a note issued to investors on Wednesday. They presently have a $137.50 price objective on the life sciences company’s stock, down from their previous price objective of $150.00. Wells Fargo & Co.’s price target would suggest a potential upside of 0.97% from the company’s previous close.
Other equities analysts have also issued research reports about the company. Morgan Stanley lowered Illumina from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $130.00 to $110.00 in a research note on Tuesday, July 5th. Vetr raised Illumina from a “sell” rating to a “buy” rating and set a $198.61 price objective on the stock in a research note on Monday, October 3rd. CL King lowered Illumina from a “buy” rating to a “neutral” rating in a research note on Monday, August 22nd. Cantor Fitzgerald lowered their price objective on Illumina from $165.00 to $155.00 and set a “hold” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective on Illumina from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 27th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $158.34.
Illumina (NASDAQ:ILMN) traded down 2.02% on Wednesday, hitting $136.18. The stock had a trading volume of 2,882,062 shares. Illumina has a 12 month low of $127.10 and a 12 month high of $196.47. The company has a 50-day moving average of $174.01 and a 200 day moving average of $156.43. The company has a market cap of $19.96 billion, a PE ratio of 46.64 and a beta of 0.47.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/12/illuminas-ilmn-market-perform-rating-reaffirmed-at-wells-fargo-co.html
Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Tuesday, July 26th. The life sciences company reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.13. The business earned $600 million during the quarter, compared to analysts’ expectations of $31.91 million. Illumina had a return on equity of 23.69% and a net margin of 18.73%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 earnings per share. On average, analysts predict that Illumina will post $3.53 EPS for the current fiscal year.
In other Illumina 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 sale, the senior vice president now owns 40,248 shares in the company, valued at approximately $6,238,440. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jay T. Flatley sold 20,000 shares of the stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $172.99, for a total value of $3,459,800.00. Following the sale, the director now owns 508,061 shares in the company, valued at approximately $87,889,472.39. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Physicians Financial Services Inc. boosted 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 during the period. Northwestern Mutual Wealth Management Co. boosted 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 during the period. Fuller & Thaler Asset Management Inc. acquired a new stake in Illumina during the second quarter valued at about $112,000. Ropes Wealth Advisors LLC boosted 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 during the period. Finally, Checchi Capital Advisers LLC boosted 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 during the period. Hedge funds and other 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.
Receive News & Ratings for Illumina Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illumina Inc. and related companies with MarketBeat.com's FREE daily email newsletter.