Illumina, Inc. (ILMN) Rating Reiterated by Canaccord Genuity

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.

About Illumina

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.

Analyst Recommendations for Illumina (NASDAQ:ILMN)

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