Cantor Fitzgerald Trims Illumina Inc. (ILMN) Target Price to $155.00
Illumina Inc. (NASDAQ:ILMN) had its target price lowered by Cantor Fitzgerald from $165.00 to $155.00 in a research note published on Tuesday morning. The firm currently has a hold rating on the life sciences company’s stock.
Several other equities analysts also recently commented on ILMN. CL King assumed coverage on shares of Illumina in a research note on Tuesday, June 21st. They issued a buy rating and a $165.00 price target for the company. Zacks Investment Research upgraded shares of Illumina from a sell rating to a hold rating in a research note on Monday, July 4th. Morgan Stanley downgraded shares of Illumina from an equal weight rating to an underweight rating and lowered their target price for the stock from $130.00 to $110.00 in a research note on Tuesday, July 5th. Piper Jaffray Cos. reiterated an overweight rating and set a $161.00 target price on shares of Illumina in a research note on Friday, July 15th. Finally, Vetr downgraded shares of Illumina from a strong-buy rating to a buy rating and set a $167.08 target price for the company. in a research note on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $156.88.
Shares of Illumina (NASDAQ:ILMN) opened at 138.31 on Tuesday. The stock has a market cap of $20.28 billion, a price-to-earnings ratio of 47.37 and a beta of 0.47. Illumina has a one year low of $127.10 and a one year high of $196.47. The stock’s 50 day moving average price is $172.04 and its 200 day moving average price is $156.15.
Illumina (NASDAQ:ILMN) last posted 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. The business earned $600 million during the quarter, compared to the consensus estimate of $31.91 million. Illumina had a net margin of 18.73% and a return on equity of 23.69%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 earnings per share. Analysts forecast that Illumina will post $3.53 earnings per share for the current year.
In other Illumina news, Director Daniel Bradbury sold 600 shares of the stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $184.36, for a total value of $110,616.00. Following the completion of the transaction, the director now directly owns 17,065 shares of the company’s stock, valued at $3,146,103.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jay T. Flatley sold 10,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 498,061 shares of the company’s stock, valued at $74,709,150. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Physicians Financial Services Inc. raised its stake in 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. raised its stake in 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. acquired a new stake in Illumina during the second quarter valued at approximately $112,000. Ropes Wealth Advisors LLC raised its stake in 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 raised its stake in 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, 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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