Illumina (NASDAQ:ILMN) Downgraded to Hold Rating by Wall Street Zen

Illumina (NASDAQ:ILMN) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Other analysts also recently issued reports about the company. Royal Bank Of Canada assumed coverage on Illumina in a research note on Thursday, May 14th. They issued an “outperform” rating and a $170.00 price target on the stock. Weiss Ratings upgraded Illumina from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 3rd. Leerink Partners raised their target price on Illumina from $175.00 to $210.00 and gave the company an “outperform” rating in a report on Friday. TD Cowen reaffirmed a “hold” rating on shares of Illumina in a research note on Wednesday. Finally, Citigroup upped their price target on shares of Illumina from $80.00 to $95.00 and gave the stock a “sell” rating in a research note on Monday, May 4th. Nine analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $156.88.

Illumina Trading Down 1.9%

NASDAQ ILMN opened at $186.65 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $28.24 billion, a P/E ratio of 33.94, a P/E/G ratio of 3.56 and a beta of 1.47. Illumina has a 52-week low of $88.00 and a 52-week high of $196.66. The firm has a 50-day moving average price of $166.44 and a 200 day moving average price of $143.34.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Thursday, April 30th. The life sciences company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.10. Illumina had a return on equity of 31.01% and a net margin of 19.42%.The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the company earned $0.97 EPS. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. Equities research analysts expect that Illumina will post 5.21 EPS for the current year.

Insider Transactions at Illumina

In related news, CAO Scott D. Ericksen sold 500 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $160.00, for a total value of $80,000.00. Following the completion of the transaction, the chief accounting officer directly owned 14,446 shares of the company’s stock, valued at $2,311,360. This trade represents a 3.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Patricia Leckman sold 783 shares of Illumina stock in a transaction on Friday, June 5th. The stock was sold at an average price of $162.59, for a total value of $127,307.97. Following the transaction, the senior vice president directly owned 21,259 shares of the company’s stock, valued at approximately $3,456,500.81. This represents a 3.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,003,769 shares of company stock worth $155,710,908. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Illumina

Several institutional investors and hedge funds have recently made changes to their positions in the business. Insight Wealth Strategies LLC purchased a new stake in shares of Illumina in the 2nd quarter worth about $6,062,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Illumina during the 2nd quarter valued at about $223,000. FNY Investment Advisers LLC raised its position in Illumina by 30.0% during the second quarter. FNY Investment Advisers LLC now owns 650 shares of the life sciences company’s stock worth $114,000 after acquiring an additional 150 shares during the last quarter. Elevation Wealth Partners LLC lifted its holdings in shares of Illumina by 52.5% in the second quarter. Elevation Wealth Partners LLC now owns 244 shares of the life sciences company’s stock valued at $43,000 after purchasing an additional 84 shares in the last quarter. Finally, PensionDanmark Pensionsforsikringsaktieselskab grew its position in shares of Illumina by 9.0% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 37,664 shares of the life sciences company’s stock valued at $6,622,000 after purchasing an additional 3,100 shares during the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Company Profile

Illumina, Inc (NASDAQ: ILMN) is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company’s product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.