Traders Buy Illumina Inc. (ILMN) on Weakness
Traders purchased shares of Illumina Inc. (NASDAQ:ILMN) on weakness during trading hours on Tuesday. $32.75 million flowed into the stock on the tick-up and $21.28 million flowed out of the stock on the tick-down, for a money net flow of $11.47 million into the stock. Of all stocks tracked, Illumina had the 31st highest net in-flow for the day. Illumina traded down ($1.79) for the day and closed at $170.42
Several research firms recently commented on ILMN. Zacks Investment Research upgraded Illumina from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research report on Friday, August 26th. CL King cut Illumina from a “buy” rating to a “neutral” rating in a research report on Monday, August 22nd. Argus lifted their price target on Illumina from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, August 8th. Vetr upgraded Illumina from a “strong sell” rating to a “sell” rating and set a $155.68 price target on the stock in a research report on Monday, August 1st. Finally, JPMorgan Chase & Co. lifted their price target on Illumina from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, July 27th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have issued a buy rating to the company. Illumina currently has a consensus rating of “Hold” and a consensus target price of $165.65.
The company has a market capitalization of $24.77 billion and a P/E ratio of 57.87. The firm has a 50 day moving average price of $162.80 and a 200 day moving average price of $151.98.
Illumina (NASDAQ:ILMN) last issued its earnings results on Tuesday, July 26th. The life sciences company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.73 by $0.13. During the same quarter in the previous year, the firm posted $0.80 EPS. The business had revenue of $600 million for the quarter, compared to the consensus estimate of $31.91 million. The business’s revenue was up 11.3% on a year-over-year basis. Equities analysts expect that Illumina Inc. will post $3.53 EPS for the current fiscal year.
In other Illumina news, EVP Christian O. Henry sold 2,141 shares of the stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $137.90, for a total transaction of $295,243.90. Following the completion of the transaction, the executive vice president now owns 20,213 shares in the company, valued at approximately $2,787,372.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Roy A. Whitfield sold 3,800 shares of the stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $140.44, for a total value of $533,672.00. Following the transaction, the director now owns 6,653 shares of the company’s stock, valued at approximately $934,347.32. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Illumina stock. Schwab Charles Investment Management Inc. boosted its position in Illumina Inc. (NASDAQ:ILMN) by 103.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 382,838 shares of the life sciences company’s stock after buying an additional 194,250 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.26% of Illumina worth $73,484,000 as of its most recent filing with the SEC.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.