Illumina Inc. (ILMN) Trading 6.5% Higher
Illumina Inc. (NASDAQ:ILMN) traded up 6.5% during trading on Tuesday . The company traded as high as $149.00 and last traded at $148.77, with a volume of 1,034,857 shares changing hands. The stock had previously closed at $139.64.
A number of equities research analysts have commented on the company. Cantor Fitzgerald cut Illumina from a “buy” rating to a “hold” rating and reduced their price objective for the company from $225.00 to $165.00 in a research note on Tuesday, April 19th. Mizuho reissued a “neutral” rating and issued a $150.00 price objective on shares of Illumina in a research note on Tuesday, April 19th. Robert W. Baird reissued a “hold” rating on shares of Illumina in a research note on Tuesday, April 19th. Morgan Stanley reissued an “equal weight” rating and issued a $140.00 price objective (down previously from $160.00) on shares of Illumina in a research note on Tuesday, April 19th. Finally, Piper Jaffray Cos. reissued a “buy” rating on shares of Illumina in a research note on Tuesday, April 19th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Illumina presently has a consensus rating of “Hold” and an average price target of $167.94.
The stock has a market capitalization of $21.93 billion and a PE ratio of 53.57. The stock has a 50-day moving average price of $141.52 and a 200-day moving average price of $152.11.
Illumina (NASDAQ:ILMN) last announced its earnings results on Tuesday, May 3rd. The life sciences company reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by $0.03. The business earned $572 million during the quarter, compared to analyst estimates of $596.33 million. During the same period in the previous year, the business earned $0.91 EPS. Illumina’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts anticipate that Illumina Inc. will post $3.38 earnings per share for the current fiscal year.
In related news, EVP Christian O. Henry sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 13th. The stock was sold at an average price of $175.00, for a total value of $2,187,500.00. Following the completion of the sale, the executive vice president now owns 42,897 shares in the company, valued at $7,506,975. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director A Blaine Bowman sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 16th. The shares were sold at an average price of $135.08, for a total value of $675,400.00. Following the completion of the sale, the director now owns 20,704 shares of the company’s stock, valued at approximately $2,796,696.32. The disclosure for this sale can be found here.
Several hedge funds have recently made changes to their positions in ILMN. Brown Advisory Inc. raised its stake in shares of Illumina by 92.0% in the fourth quarter. Brown Advisory Inc. now owns 5,359 shares of the life sciences company’s stock worth $1,029,000 after buying an additional 2,568 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Illumina by 10.1% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 5,596 shares of the life sciences company’s stock worth $1,075,000 after buying an additional 512 shares during the last quarter. Financial Counselors Inc. raised its stake in shares of Illumina by 39.0% in the fourth quarter. Financial Counselors Inc. now owns 6,536 shares of the life sciences company’s stock worth $1,255,000 after buying an additional 1,835 shares during the last quarter. Moors & Cabot Inc. raised its stake in shares of Illumina by 0.6% in the fourth quarter. Moors & Cabot Inc. now owns 6,818 shares of the life sciences company’s stock worth $1,309,000 after buying an additional 44 shares during the last quarter. Finally, Norinchukin Bank The purchased a new stake in shares of Illumina during the fourth quarter worth about $1,313,000.
Illumina, Inc (Illumina) offers sequencing and array-based solutions for genetic analysis. The Company’s products and services serve customers in a range of markets, enabling the adoption of genomic solutions in research and clinical settings. The Company’s customers include genomic research centers, academic institutions, government laboratories and hospitals, as well as pharmaceutical, biotechnology, agrigenomics and commercial molecular diagnostic laboratories, and consumer genomics companies.
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