Illumina (NASDAQ:ILMN) was upgraded by analysts at Citigroup from a “neutral” rating to a “buy” rating in a report released on Monday, MarketBeat.com reports. The firm currently has a $275.00 target price on the life sciences company’s stock, up from their previous target price of $260.00. Citigroup’s price target indicates a potential upside of 29.11% from the company’s current price.
Other analysts have also recently issued reports about the company. Piper Jaffray Companies restated an “overweight” rating and set a $226.00 price target (up from $202.00) on shares of Illumina in a report on Monday, October 9th. Canaccord Genuity restated a “buy” rating and set a $230.00 price target (up from $215.00) on shares of Illumina in a report on Thursday, October 12th. Deutsche Bank upgraded Illumina from a “hold” rating to a “buy” rating and reduced their price target for the stock from $195.00 to $160.00 in a report on Monday, October 23rd. Janney Montgomery Scott upgraded Illumina from a “sell” rating to a “neutral” rating in a report on Monday, October 23rd. Finally, Robert W. Baird upgraded Illumina from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $184.00 to $228.00 in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $241.39.
Illumina (NASDAQ:ILMN) traded down $7.18 during trading on Monday, reaching $213.00. The company’s stock had a trading volume of 1,453,462 shares, compared to its average volume of 931,511. Illumina has a 1 year low of $158.02 and a 1 year high of $248.97. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.55 and a current ratio of 3.99. The company has a market capitalization of $31,100.00, a PE ratio of 43.20, a PEG ratio of 2.91 and a beta of 0.92.
In related news, Director Jay T. Flatley sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $210.59, for a total value of $4,211,800.00. Following the sale, the director now directly owns 536,717 shares in the company, valued at $113,027,233.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marc Stapley sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $205.48, for a total value of $410,960.00. Following the completion of the sale, the executive vice president now owns 30,370 shares in the company, valued at $6,240,427.60. The disclosure for this sale can be found here. Insiders sold 136,922 shares of company stock worth $30,023,609 over the last quarter. 0.89% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. SeaCrest Wealth Management LLC bought a new stake in Illumina in the fourth quarter valued at approximately $154,000. Dupont Capital Management Corp acquired a new position in Illumina in the third quarter valued at approximately $153,000. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its stake in Illumina by 113.9% in the fourth quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 770 shares of the life sciences company’s stock valued at $168,000 after buying an additional 410 shares during the period. Advisory Services Network LLC lifted its stake in Illumina by 13.0% in the second quarter. Advisory Services Network LLC now owns 772 shares of the life sciences company’s stock valued at $134,000 after buying an additional 89 shares during the period. Finally, Riverbridge Partners LLC acquired a new position in Illumina in the fourth quarter valued at approximately $202,000. Institutional investors and hedge funds own 92.09% of the company’s stock.
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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.
