Illumina (NASDAQ:ILMN) Upgraded to “Buy” at ValuEngine

ValuEngine upgraded shares of Illumina (NASDAQ:ILMN) from a hold rating to a buy rating in a report issued on Thursday morning, ValuEngine reports.

Several other research firms have also recently weighed in on ILMN. Wolfe Research began coverage on Illumina in a report on Thursday, May 30th. They set an outperform rating on the stock. BidaskClub cut Illumina from a hold rating to a sell rating in a report on Friday, September 6th. Piper Jaffray Companies reduced their target price on Illumina from $382.00 to $348.00 and set an overweight rating on the stock in a report on Tuesday, July 30th. Deutsche Bank reduced their target price on Illumina from $290.00 to $280.00 and set a hold rating on the stock in a report on Friday, July 12th. Finally, Argus reduced their target price on Illumina to $340.00 and set a buy rating on the stock in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. Illumina has a consensus rating of Buy and an average target price of $330.92.

Shares of NASDAQ:ILMN traded up $3.21 during midday trading on Thursday, hitting $300.73. 91,910 shares of the stock were exchanged, compared to its average volume of 911,882. The stock has a market capitalization of $40.58 billion, a price-to-earnings ratio of 52.61, a P/E/G ratio of 2.57 and a beta of 1.09. The company has a debt-to-equity ratio of 0.42, a quick ratio of 6.10 and a current ratio of 6.79. The business’s 50-day moving average price is $287.49 and its 200 day moving average price is $313.82. Illumina has a 12 month low of $263.30 and a 12 month high of $380.76.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Monday, July 29th. The life sciences company reported $1.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.03. The company had revenue of $838.00 million for the quarter, compared to analysts’ expectations of $835.12 million. Illumina had a return on equity of 21.73% and a net margin of 27.56%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.43 earnings per share. As a group, sell-side analysts expect that Illumina will post 6.04 EPS for the current year.

In other Illumina news, SVP Mostafa Ronaghi sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $349.28, for a total value of $3,492,800.00. Following the transaction, the senior vice president now directly owns 65,994 shares of the company’s stock, valued at $23,050,384.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Charles Dadswell sold 1,220 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $279.88, for a total value of $341,453.60. Following the completion of the transaction, the senior vice president now directly owns 5,386 shares in the company, valued at $1,507,433.68. The disclosure for this sale can be found here. Insiders sold 56,198 shares of company stock worth $17,773,470 over the last quarter. 0.38% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Next Capital Management LLC acquired a new position in Illumina in the second quarter valued at approximately $25,000. Strategy Asset Managers LLC acquired a new position in shares of Illumina during the first quarter worth approximately $26,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Illumina during the first quarter worth approximately $37,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Illumina during the second quarter worth approximately $37,000. Finally, Trustcore Financial Services LLC acquired a new position in shares of Illumina during the second quarter worth approximately $44,000. 90.92% of the stock is currently owned by hedge funds and other institutional investors.

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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