Illumina (NASDAQ:ILMN) Rating Lowered to Hold at BidaskClub

BidaskClub lowered shares of Illumina (NASDAQ:ILMN) from a buy rating to a hold rating in a report released on Tuesday, BidAskClub reports.

Several other equities analysts have also recently commented on ILMN. UBS Group boosted their price objective on shares of Illumina from $350.00 to $355.00 and gave the company a buy rating in a research note on Tuesday, July 30th. Deutsche Bank reduced their price objective on shares of Illumina from $290.00 to $280.00 and set a hold rating for the company in a research note on Friday, July 12th. Piper Jaffray Companies reduced their price objective on shares of Illumina from $382.00 to $348.00 and set an overweight rating for the company in a research note on Tuesday, July 30th. Wolfe Research started coverage on shares of Illumina in a research note on Thursday, May 30th. They set an outperform rating for the company. Finally, Argus cut their price target on shares of Illumina to $340.00 and set a buy rating for the company in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. Illumina has an average rating of Buy and an average target price of $330.92.

Shares of NASDAQ:ILMN opened at $288.58 on Tuesday. The company has a 50 day moving average of $308.54 and a 200 day moving average of $315.16. The stock has a market cap of $41.84 billion, a P/E ratio of 50.45, a P/E/G ratio of 2.65 and a beta of 1.10. Illumina has a 12 month low of $268.62 and a 12 month high of $380.76. The company has a current ratio of 6.79, a quick ratio of 6.10 and a debt-to-equity ratio of 0.42.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Monday, July 29th. The life sciences company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.32 by $0.03. The company had revenue of $838.00 million during the quarter, compared to analysts’ expectations of $835.12 million. Illumina had a net margin of 27.56% and a return on equity of 21.73%. Illumina’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.43 earnings per share. On average, equities analysts forecast that Illumina will post 6.04 earnings per share for the current fiscal year.

In other news, Director Jay T. Flatley sold 3,300 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $376.50, for a total value of $1,242,450.00. Following the completion of the sale, the director now directly owns 272,616 shares in the company, valued at approximately $102,639,924. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mostafa Ronaghi sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $285.52, for a total transaction of $2,855,200.00. Following the completion of the sale, the senior vice president now owns 86,585 shares of the company’s stock, valued at $24,721,749.20. The disclosure for this sale can be found here. In the last three months, insiders sold 60,458 shares of company stock valued at $19,329,754. Corporate insiders own 0.38% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in Illumina by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 256,825 shares of the life sciences company’s stock worth $77,031,000 after buying an additional 5,007 shares during the last quarter. Geode Capital Management LLC increased its position in Illumina by 10.1% during the fourth quarter. Geode Capital Management LLC now owns 1,854,346 shares of the life sciences company’s stock worth $555,173,000 after buying an additional 170,046 shares during the last quarter. BB&T Corp increased its position in Illumina by 8.8% during the first quarter. BB&T Corp now owns 3,421 shares of the life sciences company’s stock worth $1,063,000 after buying an additional 276 shares during the last quarter. Blue Fin Capital Inc. increased its position in Illumina by 6.5% during the first quarter. Blue Fin Capital Inc. now owns 1,235 shares of the life sciences company’s stock worth $383,000 after buying an additional 75 shares during the last quarter. Finally, Anderson Hoagland & Co. increased its position in Illumina by 12.3% during the first quarter. Anderson Hoagland & Co. now owns 11,415 shares of the life sciences company’s stock worth $3,524,000 after buying an additional 1,250 shares during the last quarter. Hedge funds and other institutional investors own 92.09% 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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