Zacks Investment Research downgraded shares of Illumina, Inc. (NASDAQ:ILMN) from a buy rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “Illumina’s third-quarter 2017 performance was quite promising with the company delivering better-than-expected revenues and earnings figures. The top line was supported by solid uptake of sequencing consumables and instruments as well as microarray portfolios. Management is also hopeful that recent launches like NovaSeq S4 flow cell and reagent kit for its NovaSeq 6000 System will drive demand for NovaSeq. We look forward to the launch of NovaSeq Xp workflow. Also, the company’s launch of Nextera DNA Flex buoys optimism. Moreover, the company recently partnered with Telegraph Hill Partners to set up an independent entity. Accordingly, over the last three months, Illumina has been trading above the broader industry. On the flip side, weak margins owing to the NovaSeq launch, higher array services revenues and unfavorable product mix within sequencing consumables will continue to act as deterrents.”
ILMN has been the topic of a number of other research reports. BidaskClub downgraded shares of Illumina from a hold rating to a sell rating in a research report on Thursday, August 17th. J P Morgan Chase & Co reaffirmed an overweight rating and issued a $250.00 price objective on shares of Illumina in a research report on Wednesday, August 2nd. Canaccord Genuity reaffirmed a buy rating and issued a $230.00 price objective (up previously from $215.00) on shares of Illumina in a research report on Thursday, October 12th. Goldman Sachs Group, Inc. (The) reaffirmed a neutral rating and issued a $200.00 price objective on shares of Illumina in a research report on Tuesday, September 26th. Finally, Janney Montgomery Scott raised shares of Illumina from a sell rating to a neutral rating in a research report on Monday, October 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $200.88.
Shares of Illumina (NASDAQ ILMN) traded up 0.602% on Tuesday, hitting $206.425. 356,959 shares of the stock traded hands. The stock has a market cap of $30.14 billion, a P/E ratio of 41.418 and a beta of 0.76. The stock’s 50 day moving average price is $205.60 and its 200 day moving average price is $188.90. Illumina has a 52-week low of $119.37 and a 52-week high of $214.50.
Illumina (NASDAQ:ILMN) last posted its earnings results on Tuesday, October 24th. The life sciences company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.12. The business had revenue of $714.00 million for the quarter, compared to the consensus estimate of $692.77 million. Illumina had a net margin of 30.34% and a return on equity of 19.42%. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.97 EPS. On average, equities analysts expect that Illumina will post $3.65 EPS for the current fiscal year.
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In other Illumina news, SVP Charles Dadswell sold 145 shares of Illumina stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $205.71, for a total transaction of $29,827.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jay T. Flatley sold 20,000 shares of Illumina stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $194.73, for a total transaction of $3,894,600.00. Following the sale, the director now owns 539,176 shares of the company’s stock, valued at $104,993,742.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 171,635 shares of company stock valued at $34,944,643. Company insiders own 1.60% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of ILMN. Winslow Capital Management LLC acquired a new position in shares of Illumina in the 2nd quarter valued at $211,584,000. HPM Partners LLC lifted its stake in shares of Illumina by 29,103.8% in the 2nd quarter. HPM Partners LLC now owns 751,999 shares of the life sciences company’s stock valued at $107,724,000 after purchasing an additional 749,424 shares during the period. Fred Alger Management Inc. lifted its stake in shares of Illumina by 611.9% in the 2nd quarter. Fred Alger Management Inc. now owns 637,597 shares of the life sciences company’s stock valued at $110,636,000 after purchasing an additional 548,030 shares during the period. TIAA CREF Investment Management LLC lifted its stake in shares of Illumina by 55.6% in 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. Finally, Capital World Investors lifted its stake in shares of Illumina by 23.8% in 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. Hedge funds and other institutional investors own 93.04% of the company’s stock.
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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