Canaccord Genuity Analysts Give Illumina Inc. (ILMN) a $136.00 Price Target
Several other analysts have also recently issued reports on ILMN. CL King started coverage on Illumina in a research note on Tuesday, June 21st. They issued a buy rating and a $165.00 price objective on the stock. Cantor Fitzgerald reiterated a hold rating on shares of Illumina in a research note on Wednesday, June 29th. Zacks Investment Research upgraded Illumina from a sell rating to a hold rating in a research note on Monday, July 4th. Morgan Stanley cut Illumina from an equal weight rating to an underweight rating and reduced their price objective for the company from $130.00 to $110.00 in a research note on Tuesday, July 5th. Finally, Piper Jaffray Cos. restated an overweight rating and issued a $161.00 price target on shares of Illumina in a research note on Friday, July 15th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $159.24.
Shares of Illumina (NASDAQ:ILMN) opened at 138.99 on Friday. Illumina has a 1-year low of $127.10 and a 1-year high of $196.47. The firm’s 50-day moving average price is $174.01 and its 200 day moving average price is $156.43. The stock has a market cap of $20.38 billion, a P/E ratio of 47.60 and a beta of 0.47.
Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.13. The business had revenue of $600 million for the quarter, compared to analysts’ expectations of $31.91 million. Illumina had a return on equity of 23.69% and a net margin of 18.73%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the firm earned $0.80 earnings per share. On average, equities analysts expect that Illumina will post $3.53 earnings per share for the current fiscal year.
In other news, Director Jay T. Flatley sold 10,000 shares of the business’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the director now directly owns 498,061 shares of the company’s stock, valued at approximately $74,709,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director A Blaine Bowman sold 5,000 shares of the business’s stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $147.14, for a total transaction of $735,700.00. Following the sale, the director now directly owns 20,704 shares of the company’s stock, valued at $3,046,386.56. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Physicians Financial Services Inc. boosted its stake in shares of Illumina by 2,121.2% in the second quarter. Physicians Financial Services Inc. now owns 733 shares of the life sciences company’s stock valued at $103,000 after buying an additional 700 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Illumina by 25.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 789 shares of the life sciences company’s stock valued at $110,000 after buying an additional 158 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Illumina during the second quarter valued at about $112,000. Ropes Wealth Advisors LLC boosted its stake in shares of Illumina by 72.6% in the second quarter. Ropes Wealth Advisors LLC now owns 863 shares of the life sciences company’s stock valued at $121,000 after buying an additional 363 shares in the last quarter. Finally, Checchi Capital Advisers LLC boosted its stake in shares of Illumina by 2.4% in the second quarter. Checchi Capital Advisers LLC now owns 958 shares of the life sciences company’s stock valued at $134,000 after buying an additional 22 shares in the last quarter. 95.22% of the stock is owned by institutional investors.
Illumina Company Profile
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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