Cowen and Company Reiterates “Outperform” Rating for Illumina Inc. (ILMN)
Illumina Inc. (NASDAQ:ILMN)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Cowen and Company in a research note issued to investors on Wednesday. They currently have a $160.00 target price on the life sciences company’s stock. Cowen and Company’s target price would indicate a potential upside of 17.49% from the company’s previous close.
Other equities analysts have also issued reports about the stock. Wells Fargo & Co. reissued a “market perform” rating and issued a $137.50 price objective (down from $150.00) on shares of Illumina in a research report on Wednesday. BTIG Research reissued a “neutral” rating on shares of Illumina in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Illumina from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, July 27th. Cantor Fitzgerald reissued a “hold” rating and issued a $165.00 price objective on shares of Illumina in a research report on Wednesday, July 27th. Finally, Janney Montgomery Scott lowered shares of Illumina from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $155.00 to $125.00 in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $157.50.
Illumina (NASDAQ:ILMN) traded down 2.02% during trading on Wednesday, reaching $136.18. 2,883,166 shares of the company’s stock were exchanged. Illumina has a 52-week low of $127.10 and a 52-week high of $196.47. The firm has a market cap of $19.96 billion, a P/E ratio of 46.64 and a beta of 0.47. The stock’s 50 day moving average price is $174.05 and its 200 day moving average price is $156.43.
Illumina (NASDAQ:ILMN) last posted its quarterly earnings results 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. Illumina had a net margin of 18.73% and a return on equity of 23.69%. The firm had revenue of $600 million for the quarter, compared to analyst estimates of $31.91 million. During the same period in the prior year, the firm posted $0.80 earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. Equities research analysts anticipate that Illumina will post $3.53 EPS for the current fiscal year.
In other news, Director A Blaine Bowman sold 5,000 shares of Illumina stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $147.14, for a total value of $735,700.00. Following the completion of the sale, the director now owns 20,704 shares in the company, valued at approximately $3,046,386.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel Bradbury sold 600 shares of Illumina stock in a transaction on Friday, October 7th. The shares were sold at an average price of $184.36, for a total transaction of $110,616.00. Following the completion of the sale, the director now owns 17,065 shares of the company’s stock, valued at approximately $3,146,103.40. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Simonbaker & Partners LLC bought a new stake in Illumina during the first quarter valued at $243,000. Cleararc Capital Inc. raised its stake in Illumina by 0.7% in the first quarter. Cleararc Capital Inc. now owns 3,344 shares of the life sciences company’s stock valued at $542,000 after buying an additional 23 shares in the last quarter. Tiverton Asset Management LLC bought a new stake in Illumina during the first quarter valued at $2,372,000. Riverhead Capital Management LLC raised its stake in Illumina by 130.5% in the first quarter. Riverhead Capital Management LLC now owns 11,873 shares of the life sciences company’s stock valued at $1,924,000 after buying an additional 6,723 shares in the last quarter. Finally, Marsico Capital Management LLC raised its stake in Illumina by 4.8% in the first quarter. Marsico Capital Management LLC now owns 11,898 shares of the life sciences company’s stock valued at $1,929,000 after buying an additional 546 shares in the last quarter. Institutional investors own 95.22% of the company’s stock.
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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