Illumina (NASDAQ:ILMN) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Illumina (NASDAQ:ILMN) from a buy rating to a strong-buy rating in a research report released on Saturday morning, BidAskClub reports.

A number of other equities research analysts also recently issued reports on the stock. Canaccord Genuity reissued a buy rating and set a $360.00 price objective (up previously from $350.00) on shares of Illumina in a research report on Monday, June 10th. Wolfe Research began coverage on shares of Illumina in a research report on Thursday, May 30th. They set an outperform rating for the company. Zacks Investment Research raised shares of Illumina from a hold rating to a buy rating and set a $355.00 price objective for the company in a research report on Tuesday, April 2nd. Finally, OTR Global downgraded shares of Illumina to a positive rating in a research report on Tuesday, April 2nd. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $354.35.

Shares of ILMN stock opened at $358.08 on Friday. Illumina has a 1 year low of $268.62 and a 1 year high of $372.61. The company’s fifty day simple moving average is $325.04. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.33 and a current ratio of 3.66. The company has a market cap of $52.59 billion, a P/E ratio of 62.60, a price-to-earnings-growth ratio of 2.52 and a beta of 1.06.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Thursday, April 25th. The life sciences company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $838.70 million. During the same quarter in the previous year, the firm posted $1.45 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, sell-side analysts expect that Illumina will post 6.68 earnings per share for the current fiscal year.

In related news, Director Robert S. Epstein sold 5,000 shares of Illumina stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $310.44, for a total transaction of $1,552,200.00. Following the transaction, the director now owns 8,256 shares in the company, valued at approximately $2,562,992.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Mostafa Ronaghi sold 10,000 shares of Illumina stock in a transaction on Monday, June 17th. The shares were sold at an average price of $349.28, for a total transaction of $3,492,800.00. Following the transaction, the senior vice president now owns 65,994 shares in the company, valued at approximately $23,050,384.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,991 shares of company stock worth $18,227,564. 0.38% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ILMN. Massmutual Trust Co. FSB ADV lifted its stake in Illumina by 83.0% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 86 shares of the life sciences company’s stock worth $26,000 after purchasing an additional 39 shares in the last quarter. First Manhattan Co. lifted its stake in Illumina by 18.8% in the 1st quarter. First Manhattan Co. now owns 3,464 shares of the life sciences company’s stock worth $1,076,000 after purchasing an additional 547 shares in the last quarter. Sapphire Star Partners LP purchased a new stake in Illumina in the 4th quarter worth $360,000. Machina Capital S.A.S. purchased a new stake in Illumina in the 4th quarter worth $1,099,000. Finally, Ardevora Asset Management LLP lifted its stake in Illumina by 14.2% in the 1st quarter. Ardevora Asset Management LLP now owns 101,212 shares of the life sciences company’s stock worth $31,446,000 after purchasing an additional 12,600 shares in the last quarter. Institutional investors own 89.69% of the company’s stock.

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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Analyst Recommendations for Illumina (NASDAQ:ILMN)

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