Canaccord Genuity Reiterates Hold Rating for Illumina, Inc. (NASDAQ:ILMN)
Illumina, Inc. (NASDAQ:ILMN)‘s stock had its “hold” rating reissued by investment analysts at Canaccord Genuity in a report released on Wednesday. They presently have a $170.00 target price on the life sciences company’s stock. Canaccord Genuity’s price target indicates a potential downside of 2.21% from the stock’s previous close.
Several other analysts have also recently weighed in on ILMN. Zacks Investment Research raised Illumina from a “hold” rating to a “buy” rating and set a $191.00 price objective for the company in a report on Tuesday, April 4th. Vetr raised Illumina from a “buy” rating to a “strong-buy” rating and set a $190.90 price target for the company in a research note on Tuesday, April 4th. Leerink Swann reaffirmed a “buy” rating on shares of Illumina in a research note on Wednesday, April 5th. TheStreet raised Illumina from a “c+” rating to a “b” rating in a research note on Thursday, April 6th. Finally, Bank of America Corporation upped their price target on Illumina from $175.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, April 11th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $167.49.
Illumina (NASDAQ ILMN) opened at 173.85 on Wednesday. The firm has a 50 day moving average of $175.17 and a 200 day moving average of $171.09. Illumina has a one year low of $119.37 and a one year high of $189.48. The firm has a market capitalization of $25.38 billion, a PE ratio of 35.19 and a beta of 0.84.
Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Tuesday, April 25th. The life sciences company reported $0.64 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.64. The firm had revenue of $598 million during the quarter, compared to analysts’ expectations of $590.51 million. Illumina had a return on equity of 21.21% and a net margin of 30.75%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 EPS. Equities analysts forecast that Illumina will post $3.63 EPS for the current year.
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In other Illumina news, Director Jay T. Flatley sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $170.77, for a total transaction of $2,561,550.00. Following the completion of the transaction, the director now owns 534,176 shares of the company’s stock, valued at approximately $91,221,235.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Charles Dadswell sold 1,609 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $187.07, for a total value of $300,995.63. Following the transaction, the senior vice president now directly owns 10,936 shares of the company’s stock, valued at approximately $2,045,797.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 125,248 shares of company stock valued at $22,281,673. Insiders own 1.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Perigon Wealth Management increased its stake in Illumina by 2.2% in the third quarter. Perigon Wealth Management now owns 4,340 shares of the life sciences company’s stock valued at $763,000 after buying an additional 94 shares during the last quarter. KBC Group increased its stake in Illumina by 159.3% in the third quarter. KBC Group now owns 32,352 shares of the life sciences company’s stock valued at $5,688,000 after buying an additional 19,876 shares during the last quarter. EQIS Capital Management increased its stake in Illumina by 137.2% in the fourth quarter. EQIS Capital Management now owns 10,567 shares of the life sciences company’s stock valued at $2,028,000 after buying an additional 6,113 shares during the last quarter. Osborn Rohs Williams & Donohoe bought a new stake in Illumina during the fourth quarter valued at approximately $691,000. Finally, Private Asset Management bought a new stake in Illumina during the fourth quarter valued at approximately $293,000. 93.75% of the stock is owned by 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.
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