Illumina, Inc. (NASDAQ:ILMN) was upgraded by equities researchers at Canaccord Genuity from a “hold” rating to a “buy” rating in a note issued to investors on Monday, Marketbeat Ratings reports. The brokerage presently has a $215.00 price target on the life sciences company’s stock, up from their previous price target of $170.00. Canaccord Genuity’s target price suggests a potential upside of 10.56% from the stock’s previous close.

The analysts wrote, “Shipments to China grew +16% and we believe China is likely to be a double-digit grower for ILMN over the next several years, driven by the Chinese Precision Medicine Initiative,”

A number of other equities research analysts have also commented on ILMN. Zacks Investment Research upgraded Illumina from a “hold” rating to a “buy” rating and set a $195.00 price target on the stock in a research report on Thursday, July 27th. BidaskClub upgraded Illumina from a “sell” rating to a “hold” rating in a research report on Monday. Cowen and Company restated an “outperform” rating and set a $200.00 price target on shares of Illumina in a research report on Wednesday, August 2nd. Deutsche Bank AG set a $175.00 price target on Illumina and gave the stock a “hold” rating in a research report on Friday, July 28th. Finally, First Analysis upgraded Illumina from an “underweight” rating to an “equal weight” rating and set a $176.00 price target on the stock in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $176.63.

Shares of Illumina (ILMN) traded up 2.41% during mid-day trading on Monday, reaching $199.16. The company’s stock had a trading volume of 654,582 shares. Illumina has a 12 month low of $119.37 and a 12 month high of $199.95. The firm has a market capitalization of $29.08 billion, a P/E ratio of 39.96 and a beta of 0.83. The company has a 50 day moving average of $174.66 and a 200-day moving average of $171.89.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Tuesday, August 1st. The life sciences company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.14. The business had revenue of $662 million for the quarter, compared to analyst estimates of $642.38 million. Illumina had a return on equity of 19.69% and a net margin of 30.27%. Illumina’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.86 EPS. Equities research analysts forecast that Illumina will post $3.65 EPS for the current year.

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In related news, Director Jay T. Flatley sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $175.53, for a total value of $2,632,950.00. Following the completion of the sale, the director now owns 534,176 shares in the company, valued at approximately $93,763,913.28. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jay T. Flatley sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $176.43, for a total transaction of $3,528,600.00. Following the completion of the sale, the director now owns 534,176 shares of the company’s stock, valued at approximately $94,244,671.68. The disclosure for this sale can be found here. In the last three months, insiders sold 156,770 shares of company stock worth $28,069,728. 1.60% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in ILMN. Advocacy Wealth Management Services LLC purchased a new stake in Illumina during the first quarter worth approximately $102,000. Gemmer Asset Management LLC boosted 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 worth $117,000 after buying an additional 37 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Illumina during the first quarter worth approximately $117,000. Patten Group Inc. boosted 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 worth $166,000 after buying an additional 25 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. boosted its stake in Illumina by 11.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 985 shares of the life sciences company’s stock worth $171,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 93.81% 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.

Analyst Recommendations for Illumina (NASDAQ:ILMN)

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