Illumina, Inc. (ILMN) Stock Rating Upgraded by Janney Montgomery Scott
Illumina, Inc. (NASDAQ:ILMN) was upgraded by research analysts at Janney Montgomery Scott from a “sell” rating to a “neutral” rating in a research note issued on Monday.
Several other brokerages also recently commented on ILMN. 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. Canaccord Genuity raised Illumina from a “hold” rating to a “buy” rating and lifted their price target for the stock from $170.00 to $215.00 in a research report on Monday, August 7th. Morgan Stanley reaffirmed an “underweight” rating and issued a $122.00 price target (up from $115.00) on shares of Illumina in a research report on Monday, July 10th. Barclays PLC reaffirmed a “hold” rating and issued a $150.00 price target on shares of Illumina in a research report on Wednesday, July 19th. Finally, Vetr downgraded Illumina from a “strong-buy” rating to a “hold” rating and set a $202.18 price target on the stock. in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $189.71.
Shares of Illumina (NASDAQ ILMN) opened at 209.88 on Monday. The stock’s 50 day moving average is $205.74 and its 200-day moving average is $186.97. Illumina has a 52-week low of $119.37 and a 52-week high of $214.34. The firm has a market cap of $30.64 billion, a P/E ratio of 42.11 and a beta of 0.76.
Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Tuesday, August 1st. The life sciences company reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.14. The company had revenue of $662.00 million for the quarter, compared to the consensus estimate of $642.38 million. Illumina had a return on equity of 19.69% and a net margin of 30.27%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. Equities analysts anticipate that Illumina will post $3.65 earnings per share for the current fiscal year.
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In other Illumina news, SVP Oene Mark Van sold 9,729 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $211.33, for a total value of $2,056,029.57. Following the transaction, the senior vice president now owns 24,908 shares of the company’s stock, valued at $5,263,807.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Mostafa Ronaghi sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $195.00, for a total value of $1,950,000.00. Following the completion of the transaction, the senior vice president now directly owns 76,585 shares in the company, valued at approximately $14,934,075. The disclosure for this sale can be found here. In the last three months, insiders sold 182,766 shares of company stock worth $36,411,334. Insiders own 1.60% of the company’s stock.
A number of institutional investors have recently bought and sold shares of ILMN. Winslow Capital Management LLC acquired a new position in Illumina in the second quarter worth $211,584,000. HPM Partners LLC lifted its stake in shares of Illumina by 29,103.8% during the second quarter. HPM Partners LLC now owns 751,999 shares of the life sciences company’s stock valued at $107,724,000 after acquiring an additional 749,424 shares during the period. Fred Alger Management Inc. lifted its stake in shares of Illumina by 611.9% during the second quarter. Fred Alger Management Inc. now owns 637,597 shares of the life sciences company’s stock valued at $110,636,000 after acquiring an additional 548,030 shares during the period. TIAA CREF Investment Management LLC lifted its stake in shares of Illumina by 55.6% during the second quarter. TIAA CREF Investment Management LLC now owns 1,475,669 shares of the life sciences company’s stock valued at $256,058,000 after acquiring an additional 527,548 shares during the period. Finally, Capital World Investors lifted its stake in shares of Illumina by 23.8% during the second quarter. Capital World Investors now owns 2,135,000 shares of the life sciences company’s stock valued at $370,465,000 after acquiring an additional 410,000 shares during the period. 93.32% of the stock is currently owned by institutional investors.
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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