Zacks Investment Research cut shares of Illumina (NASDAQ:ILMN) from a hold rating to a sell rating in a research report report published on Tuesday morning.

According to Zacks, “In the past three months, Illumina has outperformed its industry. The company has been riding high on a solid product portfolio and streak of new product launches. Of the most important ones, management is hopeful about the recently-launched NovaSeq S1 flow cell reagent kit. The company also launched the S4 200 cycle kit on NovaSeq and the NovaSeq S Prime (SP) flow cell which will be commercially available in fourth-quarter 2018. Illumina’s acquisition of Edico Genome is also expected to drive results in the days ahead. Additionally, improving margins buoy optimism. Further, the company’s raised 2018 guidance indicates that the company will deliver solid results in the quarters to come. On the flip side, seasonality in DTC functionality continues to dent Illumina’s microarray sales. Funding issues restrict growth. The company is operating in a tough competitive landscape. Further, the stock looks a bit overvalued at the moment.”

A number of other analysts also recently weighed in on the stock. BidaskClub downgraded shares of Illumina from a buy rating to a hold rating in a report on Tuesday. Deutsche Bank boosted their target price on shares of Illumina to $350.00 and gave the stock a buy rating in a report on Friday, October 12th. ValuEngine downgraded shares of Illumina from a strong-buy rating to a buy rating in a report on Thursday, October 11th. UBS Group assumed coverage on shares of Illumina in a report on Tuesday, October 9th. They set a neutral rating and a $340.00 price target on the stock. Finally, Piper Jaffray Companies upped their price target on shares of Illumina to $380.00 and gave the company an overweight rating in a report on Tuesday, October 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the stock. Illumina has an average rating of Buy and a consensus target price of $324.76.

Illumina stock opened at $323.16 on Tuesday. Illumina has a twelve month low of $198.21 and a twelve month high of $372.61. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.44 and a current ratio of 2.74. The stock has a market capitalization of $53.96 billion, a PE ratio of 81.15, a price-to-earnings-growth ratio of 3.04 and a beta of 0.97.

Illumina (NASDAQ:ILMN) last posted its earnings results on Monday, July 30th. The life sciences company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.32. Illumina had a net margin of 20.88% and a return on equity of 26.64%. The firm had revenue of $830.00 million for the quarter, compared to the consensus estimate of $786.88 million. During the same period in the previous year, the firm posted $0.82 EPS. The business’s quarterly revenue was up 25.4% on a year-over-year basis. On average, equities analysts forecast that Illumina will post 5.46 earnings per share for the current fiscal year.

In other news, SVP Mostafa Ronaghi sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 10th. The shares were sold at an average price of $311.84, for a total value of $3,118,400.00. Following the completion of the sale, the senior vice president now owns 80,805 shares of the company’s stock, valued at approximately $25,198,231.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert S. Epstein sold 500 shares of the company’s stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $311.15, for a total transaction of $155,575.00. Following the completion of the sale, the director now directly owns 6,139 shares of the company’s stock, valued at approximately $1,910,149.85. The disclosure for this sale can be found here. Insiders have sold a total of 52,483 shares of company stock worth $17,702,063 over the last quarter. 0.54% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Kaizen Advisory LLC lifted its position in shares of Illumina by 161.0% in the 2nd quarter. Kaizen Advisory LLC now owns 368 shares of the life sciences company’s stock worth $103,000 after purchasing an additional 227 shares during the period. Sun Life Financial INC lifted its position in shares of Illumina by 152.5% in the 2nd quarter. Sun Life Financial INC now owns 399 shares of the life sciences company’s stock worth $111,000 after purchasing an additional 241 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Illumina by 3,192.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 428 shares of the life sciences company’s stock worth $120,000 after purchasing an additional 415 shares during the period. Hall Laurie J Trustee lifted its position in shares of Illumina by 189.5% in the 2nd quarter. Hall Laurie J Trustee now owns 550 shares of the life sciences company’s stock worth $154,000 after purchasing an additional 360 shares during the period. Finally, Fulton Bank N.A. purchased a new stake in shares of Illumina in the 3rd quarter worth approximately $202,000. 89.84% of the stock is owned by hedge funds and other institutional investors.

Illumina Company Profile

Illumina, Inc provides sequencing and array-based solutions for genetic analysis. The company operates in two segments, Core Illumina and Consolidated VIEs. It offers sequencing by synthesis technology that provides researchers with various applications and the ability to sequence mammalian genomes; and arrays for a range of deoxyribonucleic acid and RNA analysis applications, including single nucleotide polymorphism genotyping, copy number variations analysis, gene expression analysis, and methylation analysis, as well as allow the detection of known genetic markers on a single array.

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