BidaskClub Lowers Illumina, Inc. (ILMN) to Strong Sell
Illumina, Inc. (NASDAQ:ILMN) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Tuesday.
Several other brokerages have also recently issued reports on ILMN. Deutsche Bank AG reissued a “hold” rating and set a $175.00 target price (up previously from $165.00) on shares of Illumina in a report on Saturday, April 29th. Cantor Fitzgerald raised their target price on shares of Illumina from $155.00 to $170.00 and gave the stock a “neutral” rating in a report on Wednesday, April 26th. Cowen and Company reissued an “outperform” rating and set a $200.00 target price on shares of Illumina in a report on Wednesday, April 26th. Vetr cut shares of Illumina from a “strong-buy” rating to a “buy” rating and set a $195.67 target price for the company. in a report on Tuesday, April 25th. Finally, Morgan Stanley reissued an “underweight” rating and set a $115.00 target price (up previously from $108.00) on shares of Illumina in a report on Monday, May 15th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $166.54.
Shares of Illumina (NASDAQ:ILMN) traded down 0.474% during midday trading on Tuesday, hitting $173.165. 496,645 shares of the stock were exchanged. The firm’s 50-day moving average is $175.17 and its 200-day moving average is $171.09. The stock has a market cap of $25.28 billion, a price-to-earnings ratio of 35.047 and a beta of 0.84. Illumina has a 12 month low of $119.37 and a 12 month high of $189.48.
Illumina (NASDAQ:ILMN) last issued its earnings results on Tuesday, April 25th. The life sciences company reported $0.64 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.64. Illumina had a net margin of 30.75% and a return on equity of 21.21%. The firm had revenue of $598 million during the quarter, compared to analysts’ expectations of $590.51 million. During the same quarter last year, the company posted $0.71 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. Equities research analysts predict that Illumina will post $3.63 earnings per share for the current year.
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In other news, SVP Charles Dadswell sold 145 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $184.75, for a total value of $26,788.75. Following the transaction, the senior vice president now directly owns 10,791 shares of the company’s stock, valued at $1,993,637.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jay T. Flatley sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $170.77, for a total transaction of $2,561,550.00. Following the completion of the transaction, the director now directly owns 534,176 shares in the company, valued at $91,221,235.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 125,248 shares of company stock worth $22,281,673. Insiders own 1.60% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. First Citizens Bank & Trust Co. increased its position in Illumina by 0.4% in the second quarter. First Citizens Bank & Trust Co. now owns 3,088 shares of the life sciences company’s stock valued at $536,000 after buying an additional 12 shares in the last quarter. Patten Group Inc. increased its position in Illumina by 2.7% in the first quarter. Patten Group Inc. now owns 965 shares of the life sciences company’s stock valued at $166,000 after buying an additional 25 shares in the last quarter. Forte Capital LLC ADV increased its position in Illumina by 1.6% in the first quarter. Forte Capital LLC ADV now owns 2,185 shares of the life sciences company’s stock valued at $373,000 after buying an additional 35 shares in the last quarter. Gemmer Asset Management LLC increased its position in Illumina by 5.7% in the first quarter. Gemmer Asset Management LLC now owns 686 shares of the life sciences company’s stock valued at $117,000 after buying an additional 37 shares in the last quarter. Finally, Eqis Capital Management Inc. increased its position in Illumina by 0.6% in the second quarter. Eqis Capital Management Inc. now owns 6,914 shares of the life sciences company’s stock valued at $1,200,000 after buying an additional 38 shares in the last quarter. 93.75% of the stock is currently owned by hedge funds and other institutional investors.
Illumina Company Profile
Illumina, Inc (Illumina) is a provider of sequencing- and array-based solutions for genetic analysis. The Company operates through two segments: Core Illumina and the consolidated variable interest entities (VIEs), which include the activities of GRAIL, Inc (GRAIL) and Helix Holdings I, LLC (Helix). Core Illumina consists of its core operations.
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