Traders Buy Shares of Illumina Inc. (ILMN) on Weakness
Traders bought shares of Illumina Inc. (NASDAQ:ILMN) on weakness during trading on Monday. $51.41 million flowed into the stock on the tick-up and $18.37 million flowed out of the stock on the tick-down, for a money net flow of $33.04 million into the stock. Of all companies tracked, Illumina had the 14th highest net in-flow for the day. Illumina traded down ($0.07) for the day and closed at $166.46
A number of research analysts have recently commented on the company. Morgan Stanley lowered Illumina from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $130.00 to $110.00 in a report on Tuesday, July 5th. Vetr upgraded Illumina from a “strong sell” rating to a “sell” rating and set a $155.68 price target for the company in a report on Monday, August 1st. JPMorgan Chase & Co. upped their price target on Illumina from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, July 27th. Cantor Fitzgerald lowered Illumina from a “buy” rating to a “hold” rating and cut their price target for the stock from $225.00 to $165.00 in a report on Tuesday, April 19th. Finally, CL King assumed coverage on Illumina in a report on Tuesday, June 21st. They set a “buy” rating and a $165.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have given a buy rating to the company. Illumina has a consensus rating of “Hold” and a consensus target price of $165.49.
The company has a 50-day moving average price of $149.60 and a 200-day moving average price of $149.92. The firm has a market cap of $24.40 billion and a P/E ratio of 57.01.
Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.13. The firm had revenue of $600 million for the quarter, compared to analyst estimates of $31.91 million. During the same period in the previous year, the business posted $0.80 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, equities research analysts expect that Illumina Inc. will post $3.53 EPS for the current year.
In related news, Director Roy A. Whitfield sold 3,800 shares of Illumina stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $140.44, for a total transaction of $533,672.00. Following the completion of the sale, the director now directly owns 6,653 shares of the company’s stock, valued at approximately $934,347.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director A Blaine Bowman sold 5,000 shares of Illumina stock in a transaction that occurred on Thursday, May 12th. The stock was sold at an average price of $137.11, for a total value of $685,550.00. Following the sale, the director now directly owns 18,615 shares of the company’s stock, valued at $2,552,302.65. The disclosure for this sale can be found here.
A number of hedge funds have recently added to or reduced their stakes in the company. Edgewood Management LLC boosted its stake in Illumina by 22.9% in the fourth quarter. Edgewood Management LLC now owns 4,616,979 shares of the life sciences company’s stock valued at $886,206,000 after buying an additional 861,571 shares during the last quarter. BlackRock Investment Management LLC raised its position in Illumina by 106.2% in the fourth quarter. BlackRock Investment Management LLC now owns 655,705 shares of the life sciences company’s stock worth $125,859,000 after buying an additional 337,719 shares during the period. Principal Financial Group Inc. raised its position in Illumina by 835.5% in the fourth quarter. Principal Financial Group Inc. now owns 200,688 shares of the life sciences company’s stock worth $38,521,000 after buying an additional 179,235 shares during the period. State of Tennessee Treasury Department bought a new position in Illumina during the fourth quarter worth approximately $18,274,000. Finally, Aberdeen Asset Management PLC UK bought a new position in Illumina during the fourth quarter worth approximately $4,696,000.
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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