Illumina (NASDAQ:ILMN) had its price target cut by equities research analysts at Cowen from $380.00 to $320.00 in a report issued on Friday, The Fly reports. The brokerage presently has an “outperform” rating on the life sciences company’s stock. Cowen’s target price would suggest a potential upside of 4.68% from the stock’s previous close.
Other equities analysts have also issued research reports about the stock. BidaskClub raised shares of Zumiez from a “sell” rating to a “hold” rating in a research report on Saturday, June 22nd. Canaccord Genuity raised their price objective on shares of Cogeco Communications from C$97.00 to C$104.00 and gave the company a “buy” rating in a research report on Friday. Wolfe Research assumed coverage on shares of Waters in a research report on Thursday, May 30th. They set an “underperform” rating on the stock. Zacks Investment Research lowered shares of GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 2nd. Finally, OTR Global lowered shares of Illumina to a “positive” rating in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $341.15.
Shares of NASDAQ ILMN traded down $57.96 during mid-day trading on Friday, reaching $305.70. The company had a trading volume of 408,766 shares, compared to its average volume of 817,876. The business has a fifty day simple moving average of $344.08. The company has a quick ratio of 3.33, a current ratio of 3.66 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $54.79 billion, a P/E ratio of 53.39, a price-to-earnings-growth ratio of 2.59 and a beta of 1.15. Illumina has a 12-month low of $268.62 and a 12-month high of $380.76.
Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Thursday, April 25th. The life sciences company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.26. The business had revenue of $846.00 million during the quarter, compared to analyst estimates of $838.70 million. Illumina had a net margin of 25.06% and a return on equity of 23.49%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.45 earnings per share. Research analysts expect that Illumina will post 6.68 earnings per share for the current year.
In other news, SVP Charles Dadswell sold 124 shares of Illumina stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $371.29, for a total value of $46,039.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Francis A. Desouza sold 3,000 shares of Illumina stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $369.55, for a total transaction of $1,108,650.00. Following the completion of the transaction, the insider now directly owns 67,392 shares in the company, valued at approximately $24,904,713.60. The disclosure for this sale can be found here. In the last three months, insiders sold 55,991 shares of company stock worth $18,216,784. Insiders own 0.38% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its holdings in shares of Illumina by 1.0% during the fourth quarter. Baillie Gifford & Co. now owns 18,766,712 shares of the life sciences company’s stock valued at $2,402,890,000 after acquiring an additional 178,559 shares during the period. Capital Research Global Investors raised its holdings in shares of Illumina by 2.1% in the third quarter. Capital Research Global Investors now owns 13,360,554 shares of the life sciences company’s stock valued at $2,427,078,000 after buying an additional 275,483 shares during the last quarter. Vanguard Group Inc raised its holdings in shares of Illumina by 1.8% in the third quarter. Vanguard Group Inc now owns 10,833,784 shares of the life sciences company’s stock valued at $3,976,649,000 after buying an additional 188,516 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Illumina by 66,581.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,562,335 shares of the life sciences company’s stock valued at $35,000 after buying an additional 10,546,495 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Illumina by 2.6% in the second quarter. Vanguard Group Inc. now owns 9,904,340 shares of the life sciences company’s stock valued at $1,718,601,000 after buying an additional 255,498 shares during the last quarter. 89.69% of the stock is currently owned by 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 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 enables the detection of known genetic markers on a single array.
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