Illumina (ILMN) Stock Rating Upgraded by Wells Fargo & Co

Illumina (NASDAQ:ILMN) was upgraded by equities researchers at Wells Fargo & Co to an “outperform” rating in a note issued to investors on Tuesday, The Fly reports.

Several other equities analysts also recently weighed in on the company. 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 report on Tuesday, September 12th. Piper Jaffray Companies restated an “overweight” rating and issued a $226.00 target price (up previously from $202.00) on shares of Illumina in a research report on Monday, October 9th. Citigroup raised their target price on Illumina from $180.00 to $220.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Morgan Stanley raised their target price on Illumina from $122.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, December 14th. Finally, Zacks Investment Research downgraded Illumina from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company. Illumina has an average rating of “Buy” and an average price target of $202.60.

Illumina (NASDAQ ILMN) opened at $218.49 on Tuesday. The stock has a market capitalization of $31,899.54, a P/E ratio of 40.92, a price-to-earnings-growth ratio of 3.61 and a beta of 0.79. The company has a current ratio of 4.22, a quick ratio of 3.73 and a debt-to-equity ratio of 0.41. Illumina has a 1 year low of $127.28 and a 1 year high of $230.72.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Tuesday, October 24th. The life sciences company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.12. The company had revenue of $714.00 million for the quarter, compared to the consensus estimate of $692.77 million. Illumina had a return on equity of 19.42% and a net margin of 30.34%. Illumina’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.97 earnings per share. equities analysts forecast that Illumina will post 3.75 EPS for the current fiscal year.

In other Illumina news, Director Jay T. Flatley sold 20,000 shares of the firm’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $203.27, for a total transaction of $4,065,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert S. Epstein sold 1,250 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $226.55, for a total value of $283,187.50. Following the sale, the director now directly owns 9,088 shares of the company’s stock, valued at approximately $2,058,886.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,276 shares of company stock valued at $28,766,178. Insiders own 0.89% of the company’s stock.

A number of hedge funds have recently bought and sold shares of ILMN. Parametric Portfolio Associates LLC boosted its position in shares of Illumina by 41.2% during the third quarter. Parametric Portfolio Associates LLC now owns 290,458 shares of the life sciences company’s stock worth $57,859,000 after buying an additional 84,690 shares during the period. Moors & Cabot Inc. boosted its position in shares of Illumina by 7.1% during the third quarter. Moors & Cabot Inc. now owns 7,500 shares of the life sciences company’s stock worth $1,497,000 after buying an additional 500 shares during the period. IFM Investors Pty Ltd purchased a new position in shares of Illumina during the third quarter worth $804,000. DF Dent & Co. Inc. boosted its position in shares of Illumina by 4.0% during the third quarter. DF Dent & Co. Inc. now owns 486,530 shares of the life sciences company’s stock worth $96,917,000 after buying an additional 18,741 shares during the period. Finally, Neuberger Berman Group LLC boosted its position in shares of Illumina by 10.0% during the third quarter. Neuberger Berman Group LLC now owns 5,384 shares of the life sciences company’s stock worth $1,072,000 after buying an additional 491 shares during the period. 91.60% of the stock is owned by institutional investors.

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About Illumina

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.

The Fly

Analyst Recommendations for Illumina (NASDAQ:ILMN)