Wells Fargo & Co. Reaffirms “Market Perform” Rating for Illumina Inc. (ILMN)
Wells Fargo & Co. reaffirmed their market perform rating on shares of Illumina Inc. (NASDAQ:ILMN) in a research note published on Wednesday morning. They currently have a $137.50 price objective on the life sciences company’s stock, down from their previous price objective of $150.00.
Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. increased their target price on Illumina from $185.00 to $200.00 and gave the stock an overweight rating in a research report on Wednesday, July 27th. Cantor Fitzgerald reissued a hold rating and issued a $165.00 target price on shares of Illumina in a research report on Wednesday, July 27th. Mizuho increased their target price on Illumina from $138.00 to $148.00 and gave the stock a neutral rating in a research report on Wednesday, July 27th. Citigroup Inc. lowered Illumina from a buy rating to a neutral rating and decreased their target price for the stock from $190.00 to $140.00 in a research report on Tuesday, October 11th. Finally, Zacks Investment Research raised Illumina from a sell rating to a hold rating and set a $186.00 price objective for the company in a research report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Illumina currently has a consensus rating of Hold and an average price target of $156.88.
Illumina (NASDAQ:ILMN) opened at 138.00 on Wednesday. Illumina has a 52-week low of $127.10 and a 52-week high of $196.47. The stock has a market cap of $20.23 billion, a PE ratio of 47.26 and a beta of 0.47. The firm has a 50-day moving average price of $171.14 and a 200 day moving average price of $156.05.
Illumina (NASDAQ:ILMN) last announced its earnings results on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.13. Illumina had a return on equity of 23.69% and a net margin of 18.73%. The firm earned $600 million during the quarter, compared to analyst estimates of $31.91 million. During the same quarter in the prior year, the company earned $0.80 EPS. The business’s revenue was up 11.3% compared to the same quarter last year. On average, analysts forecast that Illumina will post $3.53 earnings per share for the current fiscal year.
In other news, SVP Charles Dadswell sold 8,632 shares of Illumina stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $155.00, for a total value of $1,337,960.00. Following the sale, the senior vice president now directly owns 40,248 shares of the company’s stock, valued at $6,238,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert S. Epstein sold 1,200 shares of Illumina stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $150.00, for a total value of $180,000.00. Following the completion of the sale, the director now directly owns 7,824 shares in the company, valued at $1,173,600. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Simonbaker & Partners LLC purchased a new stake in shares of Illumina during the first quarter valued at about $243,000. Cleararc Capital Inc. boosted its stake in shares of 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 during the period. Tiverton Asset Management LLC purchased a new stake in shares of Illumina during the first quarter valued at about $2,372,000. Riverhead Capital Management LLC boosted its stake in shares of 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 during the period. Finally, Marsico Capital Management LLC boosted its stake in shares of 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 during the period. 95.24% of the stock is currently owned by hedge funds and other 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.
Receive News & Ratings for Illumina Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illumina Inc. and related companies with MarketBeat.com's FREE daily email newsletter.