Investors Buy Illumina Inc. (ILMN) on Weakness
Traders purchased shares of Illumina Inc. (NASDAQ:ILMN) on weakness during trading on Monday. $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 19th highest net in-flow for the day. Illumina traded down ($0.66) for the day and closed at $167.90
ILMN has been the topic of a number of recent research reports. Vetr lowered Illumina from a “strong-buy” rating to a “buy” rating and set a $167.08 price target on the stock. in a research note on Monday, July 18th. CL King initiated coverage on Illumina in a research note on Tuesday, June 21st. They set a “buy” rating and a $165.00 price target on the stock. Argus lifted their price target on Illumina from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, August 8th. Zacks Investment Research raised Illumina from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a research note on Friday, August 26th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating on shares of Illumina in a research note on Wednesday, June 29th. 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’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $165.65.
The stock has a market cap of $24.61 billion and a PE ratio of 57.50. The company’s 50-day moving average price is $164.54 and its 200 day moving average price is $152.32.
Illumina (NASDAQ:ILMN) last released its earnings results on Tuesday, July 26th. The life sciences company reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.13. During the same quarter in the previous year, the business earned $0.80 EPS. The firm earned $600 million during the quarter, compared to analysts’ expectations of $31.91 million. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities analysts forecast that Illumina Inc. will post $3.53 earnings per share for the current fiscal year.
In other news, Director Robert S. Epstein sold 300 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The stock was 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 in the company, valued at approximately $1,230,030.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jay T. Flatley sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were 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 of the company’s stock, valued at approximately $87,889,472.39. 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 position in shares of Illumina Inc. (NASDAQ:ILMN) by 103.0% during the fourth quarter, according to its most recent Form 13F filing 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 0.26% of Illumina worth $73,484,000 as of its most recent filing with the SEC.
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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