Illumina (NASDAQ:ILMN) was downgraded by equities research analysts at Bank of America from a “buy” rating to an “underperform” rating in a report issued on Friday, Marketbeat.com reports. They currently have a $310.00 target price on the life sciences company’s stock. Bank of America‘s target price points to a potential upside of 1.62% from the stock’s current price.
A number of other brokerages also recently weighed in on ILMN. Zacks Investment Research downgraded shares of GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 2nd. Wolfe Research started coverage on shares of Waters in a report on Thursday, May 30th. They set an “underperform” rating for the company. BidaskClub raised shares of Zumiez from a “sell” rating to a “hold” rating in a report on Saturday, June 22nd. OTR Global downgraded shares of Illumina to a “positive” rating in a report on Tuesday, April 2nd. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $360.00 price target (up previously from $350.00) on shares of Illumina in a report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $341.15.
Shares of NASDAQ:ILMN opened at $305.05 on Friday. The stock’s 50 day simple moving average is $344.09. Illumina has a 12-month low of $268.62 and a 12-month high of $380.76. The firm has a market cap of $44.84 billion, a price-to-earnings ratio of 51.97, a PEG ratio of 2.12 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.33 and a current ratio of 3.66.
Illumina (NASDAQ:ILMN) last announced its earnings results on Thursday, April 25th. The life sciences company reported $1.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.26. Illumina had a net margin of 25.06% and a return on equity of 23.49%. The firm had revenue of $846.00 million for the quarter, compared to analyst estimates of $838.70 million. During the same quarter in the prior year, the business posted $1.45 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. Analysts forecast that Illumina will post 6.68 earnings per share for the current fiscal year.
In related news, Director Jay T. Flatley sold 3,300 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $321.96, for a total value of $1,062,468.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mostafa Ronaghi sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $305.49, for a total transaction of $3,054,900.00. Following the completion of the transaction, the senior vice president now directly owns 87,414 shares of the company’s stock, valued at approximately $26,704,102.86. The disclosure for this sale can be found here. In the last three months, insiders sold 59,291 shares of company stock valued at $19,459,234. 0.38% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the stock. Colony Group LLC raised its stake in shares of Illumina by 3.3% during the fourth quarter. Colony Group LLC now owns 1,172 shares of the life sciences company’s stock valued at $352,000 after acquiring an additional 37 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Illumina by 83.0% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 86 shares of the life sciences company’s stock valued at $26,000 after acquiring an additional 39 shares during the last quarter. Sage Capital Advisors llc raised its stake in shares of Illumina by 0.7% during the first quarter. Sage Capital Advisors llc now owns 5,887 shares of the life sciences company’s stock valued at $1,829,000 after acquiring an additional 40 shares during the last quarter. Sterling Investment Advisors Ltd. raised its stake in shares of Illumina by 2.0% during the first quarter. Sterling Investment Advisors Ltd. now owns 2,090 shares of the life sciences company’s stock valued at $649,000 after acquiring an additional 40 shares during the last quarter. Finally, LS Investment Advisors LLC raised its stake in shares of Illumina by 1.8% during the first quarter. LS Investment Advisors LLC now owns 2,502 shares of the life sciences company’s stock valued at $777,000 after acquiring an additional 45 shares during the last quarter. 89.69% of the stock is owned by institutional investors and hedge funds.
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 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 enables the detection of known genetic markers on a single array.
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