Vetr Inc. Downgrades Illumina, Inc. (ILMN) to Buy
Illumina, Inc. (NASDAQ:ILMN) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday. They currently have a $197.84 target price on the life sciences company’s stock. Vetr‘s target price suggests a potential upside of 11.53% from the company’s previous close.
A number of other brokerages have also commented on ILMN. Deutsche Bank AG reaffirmed a “hold” rating and issued a $175.00 price target (up previously from $165.00) on shares of Illumina in a research note on Saturday, April 29th. Cowen and Company reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Illumina in a research note on Wednesday, April 26th. Cantor Fitzgerald raised their price target on Illumina from $155.00 to $170.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 26th. Morgan Stanley reaffirmed an “underweight” rating and issued a $115.00 price target (up previously from $108.00) on shares of Illumina in a research note on Monday, May 15th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $187.00 price target (up previously from $170.00) on shares of Illumina in a research note on Friday, April 14th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $165.02.
Illumina (ILMN) traded up 1.19% during mid-day trading on Wednesday, hitting $177.38. The company’s 50 day moving average price is $178.46 and its 200 day moving average price is $163.46. The company has a market capitalization of $25.90 billion, a P/E ratio of 35.90 and a beta of 0.76. Illumina has a one year low of $119.37 and a one year high of $189.48.
Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Tuesday, April 25th. The life sciences company reported $0.64 EPS for the quarter, hitting analysts’ consensus estimates of $0.64. Illumina had a return on equity of 21.21% and a net margin of 30.75%. The company had revenue of $598 million during the quarter, compared to analyst estimates of $590.51 million. During the same quarter last year, the firm posted $0.71 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. On average, equities research analysts forecast that Illumina will post $3.63 EPS for the current fiscal year.
In related news, EVP Omead Ostadan sold 1,672 shares of Illumina stock in a transaction dated Friday, March 24th. The stock was sold at an average price of $170.00, for a total value of $284,240.00. Following the completion of the sale, the executive vice president now directly owns 29,586 shares in the company, valued at approximately $5,029,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jay T. Flatley sold 20,000 shares of Illumina stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $184.14, for a total value of $3,682,800.00. Following the completion of the sale, the director now 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 76,457 shares of company stock valued at $13,761,498 over the last quarter. 1.60% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in ILMN. Advocacy Wealth Management Services LLC acquired a new stake in Illumina during the first quarter valued at approximately $102,000. Advisory Services Network LLC acquired a new stake in Illumina during the first quarter valued at approximately $117,000. Gemmer Asset Management LLC increased its stake in Illumina by 5.7% in the first quarter. Gemmer Asset Management LLC now owns 686 shares of the life sciences company’s stock valued at $117,000 after buying an additional 37 shares during the last quarter. Patten Group Inc. increased its stake in Illumina by 2.7% in the first quarter. Patten Group Inc. now owns 965 shares of the life sciences company’s stock valued at $166,000 after buying an additional 25 shares during the last quarter. Finally, Probity Advisors Inc. acquired a new stake in Illumina during the first quarter valued at approximately $204,000. Institutional investors own 96.85% of the company’s stock.
Illumina Company Profile
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.
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