Morgan Stanley Increases Illumina (ILMN) Price Target to $135.00
Illumina (NASDAQ:ILMN) had its price objective upped by investment analysts at Morgan Stanley from $122.00 to $135.00 in a research note issued to investors on Thursday. The firm presently has an “underweight” rating on the life sciences company’s stock. Morgan Stanley’s target price would suggest a potential downside of 37.20% from the stock’s previous close.
A number of other brokerages have also weighed in on ILMN. Argus increased their price objective on Illumina from $205.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, September 13th. Zacks Investment Research upgraded Illumina from a “hold” rating to a “buy” rating and set a $252.00 target price on the stock in a research note on Tuesday, December 5th. Leerink Swann restated an “outperform” rating and issued a $225.00 target price (up previously from $207.00) on shares of Illumina in a research note on Tuesday, September 12th. BidaskClub downgraded Illumina from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Finally, Bank of America upped their target price on Illumina from $215.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $202.60.
Shares of Illumina (NASDAQ ILMN) traded up $0.42 during mid-day trading on Thursday, hitting $214.97. The stock had a trading volume of 83,066 shares, compared to its average volume of 951,530. The company has a quick ratio of 3.73, a current ratio of 4.22 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $31,045.44, a price-to-earnings ratio of 62.17, a PEG ratio of 3.51 and a beta of 0.79. Illumina has a fifty-two week low of $124.82 and a fifty-two week high of $230.72.
Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Tuesday, October 24th. The life sciences company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.12. The business had revenue of $714.00 million for the quarter, compared to analyst estimates of $692.77 million. Illumina had a return on equity of 19.42% and a net margin of 30.34%. The company’s revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.97 earnings per share. equities analysts expect that Illumina will post 3.75 earnings per share for the current year.
In other news, SVP Charles Dadswell sold 145 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $225.33, for a total value of $32,672.85. Following the transaction, the senior vice president now owns 6,388 shares in the company, valued at $1,439,408.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jay T. Flatley sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $200.16, for a total value of $4,003,200.00. Following the completion of the transaction, the director now owns 539,176 shares in the company, valued at approximately $107,921,468.16. The disclosure for this sale can be found here. Insiders have sold 136,421 shares of company stock worth $28,489,101 in the last quarter. 0.89% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the stock. Baillie Gifford & Co. boosted its holdings in Illumina by 17.9% in the fourth quarter. Baillie Gifford & Co. now owns 17,495,160 shares of the life sciences company’s stock valued at $3,358,108,000 after purchasing an additional 2,656,369 shares during the period. Vanguard Group Inc. boosted its holdings in Illumina by 40.2% in the fourth quarter. Vanguard Group Inc. now owns 8,555,575 shares of the life sciences company’s stock valued at $1,642,200,000 after purchasing an additional 2,454,764 shares during the period. Jennison Associates LLC boosted its holdings in 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 purchasing an additional 2,144,576 shares during the period. Capital Research Global Investors boosted its holdings in Illumina by 17.1% in the second quarter. Capital Research Global Investors now owns 13,085,071 shares of the life sciences company’s stock valued at $1,836,882,000 after purchasing an additional 1,910,346 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Illumina by 106.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,559,249 shares of the life sciences company’s stock valued at $683,180,000 after purchasing an additional 1,837,183 shares during the period. 91.75% of the stock is owned by hedge funds and other institutional investors.
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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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