Illumina (NASDAQ:ILMN) Price Target Raised to $210.00

Illumina (NASDAQ:ILMN) had its target price upped by Citigroup from $113.00 to $210.00 in a research report report published on Monday,Benzinga reports. They currently have a sell rating on the life sciences company’s stock.

A number of other analysts have also recently commented on ILMN. Weiss Ratings reiterated a “hold (c)” rating on shares of Illumina in a research report on Monday, August 31st. Barclays upped their target price on Illumina from $160.00 to $200.00 and gave the company an “underweight” rating in a research report on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft downgraded Illumina to a “hold” rating in a research note on Wednesday, August 5th. TD Cowen lifted their price target on Illumina from $210.00 to $270.00 and gave the stock a “hold” rating in a research report on Tuesday, October 13th. Finally, Wall Street Zen raised Illumina from a “hold” rating to a “buy” rating in a research report on Sunday, October 11th. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $244.24.

Illumina Stock Performance

Shares of ILMN opened at $226.54 on Monday. The company has a market capitalization of $34.25 billion, a price-to-earnings ratio of 45.37, a price-to-earnings-growth ratio of 3.23 and a beta of 1.46. Illumina has a 52-week low of $112.65 and a 52-week high of $309.35. The company has a quick ratio of 2.05, a current ratio of 2.63 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average price of $249.77 and a 200 day moving average price of $177.46.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Thursday, October 29th. The life sciences company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.26. Illumina had a net margin of 19.72% and a return on equity of 28.38%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the firm earned $1.34 EPS. The company’s revenue was up 4.2% compared to the same quarter last year. Research analysts predict that Illumina will post 5.43 EPS for the current fiscal year.

Insider Buying and Selling

In other Illumina news, Director Keith Meister sold 119,501 shares of Illumina stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $218.40, for a total value of $26,099,018.40. Following the transaction, the director directly owned 770,350 shares in the company, valued at approximately $168,244,440. This trade represents a 13.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Christensen Wedel sold 1,033 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $191.52, for a total value of $197,840.16. Following the completion of the transaction, the senior vice president directly owned 14,023 shares in the company, valued at approximately $2,685,684.96. The trade was a 6.86% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,320,108 shares of company stock valued at $288,195,392 over the last ninety days. 2.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Illumina

Several institutional investors have recently bought and sold shares of the company. Lido Advisors LLC lifted its holdings in Illumina by 61.5% in the 3rd quarter. Lido Advisors LLC now owns 7,084 shares of the life sciences company’s stock valued at $1,939,000 after purchasing an additional 2,698 shares in the last quarter. Keybank National Association OH boosted its stake in shares of Illumina by 1.5% during the 3rd quarter. Keybank National Association OH now owns 376,809 shares of the life sciences company’s stock worth $103,125,000 after purchasing an additional 5,682 shares during the last quarter. 71 West Capital Partners purchased a new stake in shares of Illumina during the third quarter worth about $412,000. Gryphon Financial Partners LLC purchased a new stake in shares of Illumina during the third quarter worth about $252,000. Finally, Fulcrum Asset Management LLP raised its position in shares of Illumina by 3,405.8% in the third quarter. Fulcrum Asset Management LLP now owns 31,447 shares of the life sciences company’s stock valued at $8,554,000 after buying an additional 30,550 shares during the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.

More Illumina News

Here are the key news stories impacting Illumina this week:

• Positive Sentiment: Illumina was selected to provide whole-genome sequencing for Singapore’s SG-INSIGHT study, part of the country’s National Precision Medicine program. The study aims to include about 450,000 people, expanding Illumina’s role in a large public-health genomics initiative. The announcement did not disclose contract value or expected revenue, so the immediate financial contribution is unclear. Article: Illumina selected to help bring precision medicine into everyday healthcare in Singapore
• Positive Sentiment: Citigroup raised its price target for Illumina, signaling a more favorable valuation view from the analyst. The available report does not specify the revised target or rationale. Article: Illumina stock gets price target boost from Citigroup
• Neutral Sentiment: Grail reported weaker-than-expected sales of its cancer-detection blood test, sending Grail shares lower. This is not a direct Illumina operating result; any impact on ILMN would be indirect sentiment or read-through, rather than evidence of weaker Illumina sales. Article: Grail Comes Up Short, Reporting Light Sales Of Its Cancer-Detecting Blood Test

Illumina Company Profile

Illumina, Inc is a biotechnology company that develops and manufactures genomics and genetic-analysis technologies. Its products are used to study DNA and RNA in applications including biomedical research, clinical testing, pharmaceutical development, reproductive health, oncology and population genomics.

The company’s offerings include next-generation sequencing systems, consumable flow cells and reagent kits, microarrays, and genomic data-analysis software. Its sequencing portfolio includes instruments such as the NovaSeq, NextSeq, MiSeq and iSeq platforms, while its informatics products include the DRAGEN platform, which supports the processing and interpretation of sequencing data.