Illumina (NASDAQ:ILMN) had its price target cut by Canaccord Genuity from $377.00 to $330.00 in a research note published on Friday morning, The Fly reports. They currently have a buy rating on the life sciences company’s stock.

Several other research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of GasLog Partners LP Unit from a hold rating to a strong sell rating in a report on Tuesday, April 2nd. OTR Global downgraded shares of Illumina to a positive rating in a report on Tuesday, April 2nd. Wolfe Research started coverage on shares of Waters in a report on Thursday, May 30th. They set an underperform rating on the stock. Bank of America set a $80.00 price objective on shares of Colgate-Palmolive and gave the stock a buy rating in a report on Friday. Finally, Deutsche Bank boosted their price objective on shares of Spirit Airlines from $75.00 to $79.00 and gave the stock a buy rating in a report on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $341.15.

NASDAQ:ILMN opened at $305.05 on Friday. The stock’s 50-day moving average is $344.09. Illumina has a 52-week low of $268.62 and a 52-week high of $380.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.33 and a current ratio of 3.66. The company has a market cap of $44.84 billion, a P/E ratio of 53.33, a price-to-earnings-growth ratio of 2.12 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, April 25th. The life sciences company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.26. Illumina had a net margin of 25.06% and a return on equity of 23.49%. The company had revenue of $846.00 million for the quarter, compared to the consensus estimate of $838.70 million. During the same quarter in the previous year, the firm posted $1.45 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. As a group, research analysts forecast that Illumina will post 6.68 EPS for the current fiscal year.

In related news, SVP Charles Dadswell sold 124 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $311.77, for a total value of $38,659.48. Following the sale, the senior vice president now owns 8,086 shares of the company’s stock, valued at $2,520,972.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jay T. Flatley sold 3,300 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $376.50, for a total transaction of $1,242,450.00. Following the completion of the sale, the director now directly owns 272,616 shares in the company, valued at approximately $102,639,924. The disclosure for this sale can be found here. In the last three months, insiders sold 59,291 shares of company stock worth $19,459,234. 0.38% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in ILMN. Massmutual Trust Co. FSB ADV lifted its position in shares of Illumina by 83.0% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 86 shares of the life sciences company’s stock worth $26,000 after purchasing an additional 39 shares in the last quarter. Strategy Asset Managers LLC acquired a new position in Illumina in the first quarter valued at approximately $26,000. Financial Advocates Investment Management lifted its holdings in Illumina by 1,430.0% in the fourth quarter. Financial Advocates Investment Management now owns 612 shares of the life sciences company’s stock valued at $28,000 after buying an additional 572 shares during the period. C J Advisory Inc acquired a new position in Illumina in the first quarter valued at approximately $29,000. Finally, Lake Point Wealth Management acquired a new position in Illumina in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

About Illumina

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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The Fly

Analyst Recommendations for Illumina (NASDAQ:ILMN)

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