Traders Buy Illumina Inc. (ILMN) on Weakness
Traders purchased shares of Illumina Inc. (NASDAQ:ILMN) on weakness during trading hours on Monday. $32.75 million flowed into the stock on the tick-up and $21.28 million flowed out of the stock on the tick-down, for a money net flow of $11.47 million into the stock. Of all equities tracked, Illumina had the 5th highest net in-flow for the day. Illumina traded down ($1.79) for the day and closed at $170.42
Several equities research analysts recently commented on ILMN shares. CL King cut Illumina from a “buy” rating to a “neutral” rating in a report on Monday, August 22nd. Morgan Stanley cut Illumina from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $130.00 to $110.00 in a report on Tuesday, July 5th. Vetr cut Illumina from a “buy” rating to a “sell” rating and set a $142.96 price target on the stock. in a report on Tuesday, July 26th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $165.00 price target on shares of Illumina in a report on Thursday, June 2nd. Finally, Zacks Investment Research raised Illumina from a “sell” rating to a “hold” rating in a report on Monday, July 4th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $165.65.
The company has a market capitalization of $24.98 billion and a price-to-earnings ratio of 58.36. The company’s 50-day moving average price is $161.98 and its 200 day moving average price is $151.79.
Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.13. During the same period in the prior year, the company earned $0.80 EPS. The company had revenue of $600 million for the quarter, compared to the consensus estimate of $31.91 million. The firm’s revenue was up 11.3% on a year-over-year basis. On average, equities research analysts forecast that Illumina Inc. will post $3.53 EPS for the current fiscal year.
In related news, Director Robert S. Epstein sold 300 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $170.27, for a total value of $51,081.00. Following the completion of the transaction, the director now owns 7,224 shares of the company’s stock, valued at $1,230,030.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director A Blaine Bowman sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 16th. The shares were sold at an average price of $135.08, for a total transaction of $675,400.00. Following the completion of the transaction, the director now directly 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.
A hedge fund recently bought a new stake in Illumina stock. State of Tennessee Treasury Department bought a new position in shares of Illumina Inc. (NASDAQ:ILMN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 95,205 shares of the life sciences company’s stock, valued at approximately $18,274,000. State of Tennessee Treasury Department owned approximately 0.07% of Illumina as of its most recent SEC filing.
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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