Traders Buy Illumina Inc. (ILMN) on Weakness
Traders purchased shares of Illumina Inc. (NASDAQ:ILMN) on weakness during trading hours 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 companies 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 analysts have issued reports on the company. Zacks Investment Research upgraded Illumina from a “sell” rating to a “hold” rating in a research note on Monday, July 4th. CL King lowered Illumina from a “buy” rating to a “neutral” rating in a research note on Monday, August 22nd. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $161.00 price target on shares of Illumina in a research report on Friday, July 15th. Vetr cut Illumina from a “buy” rating to a “sell” rating and set a $142.96 price target for the company. in a research report on Tuesday, July 26th. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $165.00 price target on shares of Illumina in a research report on Thursday, June 2nd. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $165.65.
The firm has a 50 day moving average of $164.54 and a 200-day moving average of $152.32. The company has a market cap of $24.61 billion and a P/E ratio of 57.50.
Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Tuesday, July 26th. The life sciences company reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.13. During the same quarter in the prior year, the business posted $0.80 EPS. The company earned $600 million during the quarter, compared to analysts’ expectations of $31.91 million. The company’s revenue was up 11.3% on a year-over-year basis. Analysts forecast that Illumina Inc. will post $3.53 earnings per share for the current fiscal year.
In related news, Director Jay T. Flatley sold 20,000 shares of Illumina 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 transaction, the director now owns 508,061 shares in the company, valued at $87,889,472.39. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director A Blaine Bowman sold 5,000 shares of Illumina stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $135.08, for a total value of $675,400.00. Following the completion of the transaction, 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.
A hedge fund recently raised its stake in Illumina stock. Schwab Charles Investment Management Inc. raised its stake in shares of Illumina Inc. (NASDAQ:ILMN) by 103.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 about 0.26% of Illumina worth $73,484,000 at the end of the most recent reporting period.
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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