Investors Buy Shares of Illumina Inc. (ILMN) on Weakness
Investors bought shares of Illumina Inc. (NASDAQ:ILMN) on weakness during trading on Friday. $29.23 million flowed into the stock on the tick-up and $18.11 million flowed out of the stock on the tick-down, for a money net flow of $11.12 million into the stock. Of all equities tracked, Illumina had the 49th highest net in-flow for the day. Illumina traded down ($0.66) for the day and closed at $167.90
Several research firms have recently commented on ILMN. Zacks Investment Research upgraded shares of Illumina from a “sell” rating to a “hold” rating in a research note on Monday, July 4th. CL King cut shares of Illumina from a “buy” rating to a “neutral” rating in a research note on Monday, August 22nd. Piper Jaffray Cos. restated an “overweight” rating and issued a $161.00 target price on shares of Illumina in a research note on Friday, July 15th. Vetr cut shares of Illumina from a “buy” rating to a “sell” rating and set a $142.96 target price for the company. in a research note on Tuesday, July 26th. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $165.00 target price on shares of Illumina in a research note on Thursday, June 2nd. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $165.65.
The stock’s 50 day moving average price is $164.54 and its 200 day moving average price is $152.32. The stock has a market cap of $24.61 billion and a price-to-earnings ratio of 57.50.
Illumina (NASDAQ:ILMN) last issued its earnings results on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The firm earned $600 million during the quarter, compared to analyst estimates of $31.91 million. Illumina’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 EPS. On average, equities research analysts expect that Illumina Inc. will post $3.53 earnings per share for the current year.
In other news, Director Jay T. Flatley sold 20,000 shares of the stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $172.99, for a total value of $3,459,800.00. Following the completion of the sale, the director now owns 508,061 shares of the company’s stock, valued at $87,889,472.39. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director A Blaine Bowman sold 5,000 shares of the stock in a transaction dated 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 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.
An institutional investor recently raised its position in Illumina stock. Schwab Charles Investment Management Inc. increased its stake in shares of Illumina Inc. (NASDAQ:ILMN) by 103.0% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 382,838 shares of the life sciences company’s stock after buying an additional 194,250 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.26% of Illumina worth $73,484,000 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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