BidaskClub Lowers Illumina (NASDAQ:ILMN) to Buy

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

Several other research firms have also issued reports on ILMN. OTR Global lowered shares of Illumina to a positive rating in a research note on Tuesday, April 2nd. Canaccord Genuity raised their price target on shares of Cogeco Communications from C$97.00 to C$104.00 and gave the company a buy rating in a research note on Friday. Zacks Investment Research lowered shares of GasLog Partners LP Unit from a hold rating to a strong sell rating in a research note on Tuesday, April 2nd. Cowen raised their price target on shares of Solaredge Technologies from $65.00 to $74.00 and gave the company an outperform rating in a research note on Friday. Finally, Wolfe Research started coverage on shares of Waters in a research note on Thursday, May 30th. They issued an underperform rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the company’s stock. Illumina presently has an average rating of Buy and a consensus price target of $341.15.

NASDAQ:ILMN opened at $302.29 on Friday. Illumina has a one year low of $268.62 and a one year high of $380.76. 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 stock has a market capitalization of $44.84 billion, a price-to-earnings ratio of 52.85, a price-to-earnings-growth ratio of 2.12 and a beta of 1.15. The firm has a fifty day simple moving average of $343.54.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Thursday, April 25th. The life sciences company reported $1.60 EPS for the quarter, beating the 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 company had revenue of $846.00 million for the quarter, compared to analyst estimates of $838.70 million. During the same period in the prior year, the company earned $1.45 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. On average, research analysts predict that Illumina will post 6.68 EPS for the current year.

In other Illumina news, SVP Mostafa Ronaghi sold 10,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $305.49, for a total value of $3,054,900.00. Following the completion of the sale, the senior vice president now owns 87,414 shares in the company, valued at approximately $26,704,102.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jay T. Flatley sold 3,300 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $376.50, for a total transaction of $1,242,450.00. Following the completion of the sale, the director now owns 272,616 shares of the company’s stock, valued at approximately $102,639,924. The disclosure for this sale can be found here. In the last quarter, 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 hedge funds have recently added to or reduced their stakes in the business. CENTRAL TRUST Co raised its holdings in Illumina by 249.1% in the 2nd quarter. CENTRAL TRUST Co now owns 995 shares of the life sciences company’s stock valued at $362,000 after acquiring an additional 710 shares during the last quarter. Sheets Smith Wealth Management acquired a new stake in shares of Illumina during the 2nd quarter worth approximately $382,000. Diversified Trust Co increased its holdings in shares of Illumina by 11.0% during the 2nd quarter. Diversified Trust Co now owns 5,513 shares of the life sciences company’s stock worth $2,030,000 after buying an additional 545 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Illumina by 45.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 60,653 shares of the life sciences company’s stock worth $22,329,000 after buying an additional 19,000 shares during the last quarter. Finally, Xact Kapitalforvaltning AB increased its holdings in shares of Illumina by 6.6% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 31,221 shares of the life sciences company’s stock worth $11,494,000 after buying an additional 1,931 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

About Illumina

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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