Illumina, Inc. (ILMN) Lifted to “Strong-Buy” at Vetr Inc.
Illumina, Inc. (NASDAQ:ILMN) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday. The firm presently has a $197.84 price target on the life sciences company’s stock. Vetr‘s price target points to a potential upside of 12.47% from the stock’s previous close.
Other research analysts have also recently issued reports about the stock. Piper Jaffray Companies reiterated an “overweight” rating and set a $187.00 target price (up from $170.00) on shares of Illumina in a report on Friday, April 14th. Evercore ISI upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a report on Monday, February 27th. Cantor Fitzgerald reiterated a “neutral” rating and set a $155.00 target price on shares of Illumina in a report on Wednesday, February 1st. Leerink Swann increased their target price on shares of Illumina from $134.00 to $138.00 and gave the stock a “market perform” rating in a report on Thursday, February 9th. Finally, TheStreet upgraded shares of Illumina from a “c+” rating to a “b” rating in a report on Thursday, April 6th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $165.02.
Shares of Illumina (NASDAQ:ILMN) traded up 1.24% on Tuesday, reaching $175.91. 959,273 shares of the company were exchanged. The company’s 50-day moving average is $179.23 and its 200-day moving average is $158.22. Illumina has a 52 week low of $119.37 and a 52 week high of $189.48. The company has a market capitalization of $25.68 billion, a price-to-earnings ratio of 35.60 and a beta of 0.79.
Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Tuesday, April 25th. The life sciences company reported $0.64 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.64. The firm had revenue of $598 million for the quarter, compared to analysts’ expectations of $590.51 million. Illumina had a net margin of 19.31% and a return on equity of 22.89%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 earnings per share. On average, equities analysts expect that Illumina will post $3.63 EPS for the current fiscal year.
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In related news, EVP Omead Ostadan sold 1,672 shares of the stock in a transaction that occurred on Friday, March 24th. The shares were sold at an average price of $170.00, for a total value of $284,240.00. Following the completion of the transaction, the executive vice president now directly owns 29,586 shares of the company’s stock, valued at approximately $5,029,620. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jay T. Flatley sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $184.14, for a total transaction of $3,682,800.00. Following the completion of the transaction, the director now directly owns 539,176 shares of the company’s stock, valued at $99,283,868.64. The disclosure for this sale can be found here. Insiders sold a total of 51,346 shares of company stock worth $9,242,907 over the last 90 days. Company insiders own 1.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in ILMN. Jennison Associates LLC raised its position in shares of Illumina by 69.0% in the first quarter. Jennison Associates LLC now owns 5,254,274 shares of the life sciences company’s stock valued at $896,589,000 after buying an additional 2,144,576 shares during the last quarter. Edgewood Management LLC raised its position in shares of Illumina by 33.6% in the fourth quarter. Edgewood Management LLC now owns 6,639,776 shares of the life sciences company’s stock valued at $850,157,000 after buying an additional 1,671,293 shares during the last quarter. Norges Bank bought a new position in shares of Illumina during the fourth quarter valued at approximately $140,899,000. Capital World Investors raised its position in shares of Illumina by 37.1% in the third quarter. Capital World Investors now owns 2,006,100 shares of the life sciences company’s stock valued at $364,428,000 after buying an additional 543,100 shares during the last quarter. Finally, Viking Global Investors LP bought a new position in shares of Illumina during the fourth quarter valued at approximately $44,810,000. 92.79% of the stock is owned by hedge funds and other institutional investors.
Illumina, Inc (Illumina) is a provider of sequencing- and array-based solutions for genetic analysis. The Company operates through two segments: Core Illumina and the consolidated variable interest entities (VIEs), which include the activities of GRAIL, Inc (GRAIL) and Helix Holdings I, LLC (Helix). Core Illumina consists of its core operations.
To view Vetr’s full report, visit Vetr’s official website.
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