Illumina, Inc. (ILMN) Upgraded to Neutral at Janney Montgomery Scott
Illumina, Inc. (NASDAQ:ILMN) was upgraded by Janney Montgomery Scott from a “sell” rating to a “neutral” rating in a research note issued to investors on Monday.
Other equities analysts have also issued reports about the company. Deutsche Bank AG raised Illumina from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a report on Monday. First Analysis raised Illumina from an “underweight” rating to an “equal weight” rating and set a $176.00 target price for the company in a report on Wednesday, August 2nd. Zacks Investment Research lowered Illumina from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Barclays PLC reaffirmed an “equal weight” rating and issued a $150.00 target price on shares of Illumina in a report on Wednesday, August 9th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $170.00 price objective on shares of Illumina in a research note on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $189.71.
Shares of Illumina (NASDAQ:ILMN) opened at 209.88 on Monday. Illumina has a 52-week low of $119.37 and a 52-week high of $214.34. The firm has a market capitalization of $30.64 billion, a PE ratio of 42.11 and a beta of 0.76. The stock has a 50 day moving average price of $205.74 and a 200-day moving average price of $186.97.
Illumina (NASDAQ:ILMN) last released its earnings results on Tuesday, August 1st. The life sciences company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.14. The company had revenue of $662.00 million during the quarter, compared to analyst estimates of $642.38 million. Illumina had a return on equity of 19.69% and a net margin of 30.27%. Illumina’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 earnings per share. Equities analysts forecast that Illumina will post $3.65 EPS for the current year.
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In other news, SVP Oene Mark Van sold 9,729 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $211.33, for a total transaction of $2,056,029.57. Following the transaction, the senior vice president now directly owns 24,908 shares of the company’s stock, valued at $5,263,807.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay T. Flatley sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $211.11, for a total value of $4,222,200.00. Following the transaction, the director now directly owns 539,176 shares in the company, valued at $113,825,445.36. The disclosure for this sale can be found here. In the last three months, insiders sold 182,766 shares of company stock worth $36,411,334. 1.60% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Illumina by 2.6% during 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. Capital World Investors grew its stake in shares of Illumina by 23.8% in the second quarter. Capital World Investors now owns 2,135,000 shares of the life sciences company’s stock worth $370,465,000 after purchasing an additional 410,000 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Illumina by 55.6% in the second quarter. TIAA CREF Investment Management LLC now owns 1,475,669 shares of the life sciences company’s stock worth $256,058,000 after purchasing an additional 527,548 shares during the last quarter. Winslow Capital Management LLC bought a new stake in shares of Illumina in the second quarter worth about $211,584,000. Finally, HPM Partners LLC grew its stake in shares of Illumina by 29,103.8% in the second quarter. HPM Partners LLC now owns 751,999 shares of the life sciences company’s stock worth $107,724,000 after purchasing an additional 749,424 shares during the last quarter. 93.32% of the stock is currently owned by hedge funds and other institutional investors.
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.
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