Illumina, Inc. (NASDAQ:ILMN)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity in a research note issued to investors on Thursday. They currently have a $230.00 price target on the life sciences company’s stock, up from their prior price target of $215.00. Canaccord Genuity’s price objective indicates a potential upside of 11.28% from the company’s current price.
Several other equities analysts have also commented on ILMN. Vetr lowered Illumina from a “strong-buy” rating to a “buy” rating and set a $197.84 target price for the company. in a report on Wednesday, June 21st. BidaskClub raised Illumina from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. Morgan Stanley reaffirmed an “underweight” rating and set a $122.00 target price (up from $115.00) on shares of Illumina in a report on Monday, July 10th. Barclays PLC reaffirmed a “hold” rating and set a $150.00 target price on shares of Illumina in a report on Wednesday, July 19th. Finally, Zacks Investment Research upgraded Illumina from a “hold” rating to a “buy” rating and set a $195.00 price objective for the company in a research report on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the stock. Illumina has an average rating of “Hold” and an average price target of $187.85.
Shares of Illumina (NASDAQ:ILMN) opened at 206.69 on Thursday. The firm has a market capitalization of $30.18 billion, a PE ratio of 41.47 and a beta of 0.76. Illumina has a 52-week low of $119.37 and a 52-week high of $214.34. The firm’s 50-day moving average price is $203.70 and its 200-day moving average price is $185.30.
Illumina (NASDAQ:ILMN) last posted its earnings results on Tuesday, August 1st. The life sciences company reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.14. The company had revenue of $662.00 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 earnings per share. On average, equities analysts predict that Illumina will post $3.65 earnings per share for the current fiscal year.
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In other Illumina news, Director Jay T. Flatley sold 15,000 shares of the company’s stock in a transaction on 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 transaction, the director now owns 534,176 shares of the company’s stock, valued at $91,221,235.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Charles Dadswell sold 145 shares of the company’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $202.23, for a total value of $29,323.35. The disclosure for this sale can be found here. Insiders sold 178,516 shares of company stock worth $34,995,591 in the last ninety days. 1.60% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Illumina by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 9,904,340 shares of the life sciences company’s stock valued at $1,718,601,000 after purchasing an additional 255,498 shares during the period. Capital World Investors raised its stake in Illumina by 23.8% during the 2nd quarter. Capital World Investors now owns 2,135,000 shares of the life sciences company’s stock valued at $370,465,000 after purchasing an additional 410,000 shares during the period. TIAA CREF Investment Management LLC raised its stake in Illumina by 55.6% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,475,669 shares of the life sciences company’s stock valued at $256,058,000 after purchasing an additional 527,548 shares during the period. Geode Capital Management LLC raised its stake in Illumina by 8.0% during the 1st quarter. Geode Capital Management LLC now owns 1,458,071 shares of the life sciences company’s stock valued at $248,460,000 after purchasing an additional 107,941 shares during the period. Finally, Winslow Capital Management LLC acquired a new stake in Illumina during the 2nd quarter valued at $211,584,000. 93.32% of the stock is currently owned by institutional investors.
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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