Illumina (NASDAQ:ILMN) had its price target lifted by research analysts at Deutsche Bank to $350.00 in a research note issued to investors on Friday, The Fly reports. The firm presently has a “buy” rating on the life sciences company’s stock. Deutsche Bank’s price objective indicates a potential upside of 8.83% from the stock’s previous close.
ILMN has been the topic of several other reports. ValuEngine downgraded shares of Illumina from a “strong-buy” rating to a “buy” rating in a report on Thursday. UBS Group initiated coverage on shares of Illumina in a report on Tuesday. They set a “neutral” rating and a $340.00 price objective on the stock. BidaskClub downgraded shares of Illumina from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 4th. Piper Jaffray Companies increased their price objective on shares of Illumina to $380.00 and gave the company an “overweight” rating in a report on Tuesday, October 2nd. Finally, Cowen increased their price objective on shares of Illumina from $315.00 to $400.00 and gave the company a “positive” rating in a report on Thursday, September 6th. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $324.76.
ILMN stock traded up $14.16 during midday trading on Friday, hitting $321.61. 92,674 shares of the stock traded hands, compared to its average volume of 886,849. The firm has a market cap of $53.96 billion, a PE ratio of 80.40, a P/E/G ratio of 3.04 and a beta of 0.97. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.44 and a current ratio of 2.74. Illumina has a 1-year low of $198.21 and a 1-year high of $372.61.
Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Monday, July 30th. The life sciences company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.32. The company had revenue of $830.00 million for the quarter, compared to analyst estimates of $786.88 million. Illumina had a net margin of 20.88% and a return on equity of 26.64%. The firm’s revenue was up 25.4% on a year-over-year basis. During the same quarter last year, the business earned $0.82 earnings per share. Research analysts predict that Illumina will post 5.46 earnings per share for the current fiscal year.
In other news, Director Robert S. Epstein sold 1,346 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $369.15, for a total value of $496,875.90. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert S. Epstein sold 500 shares of the firm’s stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $311.15, for a total transaction of $155,575.00. Following the completion of the transaction, the director now directly owns 6,139 shares in the company, valued at $1,910,149.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,183 shares of company stock worth $13,522,449. Insiders own 0.54% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Jennison Associates LLC lifted its stake in shares of Illumina by 4.5% in the second quarter. Jennison Associates LLC now owns 4,297,581 shares of the life sciences company’s stock worth $1,200,271,000 after buying an additional 185,745 shares in the last quarter. Fred Alger Management Inc. lifted its stake in shares of Illumina by 21.4% in the second quarter. Fred Alger Management Inc. now owns 778,450 shares of the life sciences company’s stock worth $217,413,000 after buying an additional 137,302 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Illumina by 5.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 604,615 shares of the life sciences company’s stock worth $168,863,000 after buying an additional 31,985 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Illumina by 219.8% in the second quarter. Millennium Management LLC now owns 548,957 shares of the life sciences company’s stock worth $153,318,000 after buying an additional 377,283 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its stake in shares of Illumina by 4.1% in the second quarter. Federated Investors Inc. PA now owns 512,611 shares of the life sciences company’s stock worth $143,167,000 after buying an additional 20,324 shares in the last quarter. 89.84% of the stock is currently owned by hedge funds and other institutional investors.
Illumina, Inc provides sequencing and array-based solutions for genetic analysis. The company operates in two segments, Core Illumina and Consolidated VIEs. It offers sequencing by synthesis technology that provides researchers with various applications and the ability to sequence mammalian genomes; and arrays for a range of deoxyribonucleic acid and RNA analysis applications, including single nucleotide polymorphism genotyping, copy number variations analysis, gene expression analysis, and methylation analysis, as well as allow the detection of known genetic markers on a single array.
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