Illumina, Inc. (ILMN) Cut to “Hold” at Vetr Inc.
Vetr lowered shares of Illumina, Inc. (NASDAQ:ILMN) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday morning. The brokerage currently has $202.18 price objective on the life sciences company’s stock.
Several other research firms also recently issued reports on ILMN. Deutsche Bank AG set a $175.00 price target on Illumina and gave the stock a hold rating in a research note on Friday, July 28th. Zacks Investment Research raised Illumina from a hold rating to a buy rating and set a $191.00 price target for the company in a research note on Tuesday, April 4th. Morgan Stanley reaffirmed an underweight rating and set a $122.00 price target (up previously from $115.00) on shares of Illumina in a research note on Monday, July 10th. Bank of America Corporation lifted their price target on Illumina from $175.00 to $195.00 and gave the stock a buy rating in a research note on Tuesday, April 11th. Finally, Barclays PLC reaffirmed a hold rating and set a $150.00 price target on shares of Illumina in a research note on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $174.38.
Illumina (ILMN) traded down 2.01% during midday trading on Wednesday, hitting $194.47. 1,192,122 shares of the stock were exchanged. The firm has a 50-day moving average price of $174.66 and a 200-day moving average price of $171.89. Illumina has a one year low of $119.37 and a one year high of $198.55. The stock has a market cap of $28.39 billion, a P/E ratio of 39.02 and a beta of 0.83.
Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Tuesday, August 1st. The life sciences company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.14. The business had revenue of $662 million during the quarter, compared to the consensus estimate of $642.38 million. Illumina had a return on equity of 19.69% and a net margin of 30.27%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 EPS. On average, equities research analysts anticipate that Illumina will post $3.65 EPS for the current fiscal year.
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In other news, EVP Omead Ostadan sold 1,672 shares of the business’s stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $172.73, for a total transaction of $288,804.56. Following the completion of the sale, the executive vice president now owns 26,242 shares in the company, valued at approximately $4,532,780.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay T. Flatley sold 15,000 shares of the business’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $170.77, for a total value of $2,561,550.00. Following the sale, the director now owns 534,176 shares of the company’s stock, valued at approximately $91,221,235.52. The disclosure for this sale can be found here. Insiders sold a total of 156,770 shares of company stock valued at $28,069,728 in the last 90 days. 1.60% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Advocacy Wealth Management Services LLC purchased a new stake in shares of Illumina during the first quarter worth about $102,000. Gemmer Asset Management LLC boosted its stake in shares of Illumina by 5.7% in the first quarter. Gemmer Asset Management LLC now owns 686 shares of the life sciences company’s stock worth $117,000 after buying an additional 37 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Illumina during the first quarter worth about $117,000. Patten Group Inc. boosted its stake in shares of Illumina by 2.7% in the first quarter. Patten Group Inc. now owns 965 shares of the life sciences company’s stock worth $166,000 after buying an additional 25 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. boosted its stake in shares of Illumina by 11.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 985 shares of the life sciences company’s stock worth $171,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 93.68% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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