Illumina Inc. (NASDAQ:ILMN) was downgraded by research analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating in a report released on Tuesday. They currently have a $140.00 target price on the life sciences company’s stock, down from their previous target price of $190.00. Citigroup Inc.’s target price points to a potential upside of 2.81% from the stock’s previous close.
Several other brokerages also recently commented on ILMN. Canaccord Genuity set a $136.00 target price on Illumina and gave the company a “hold” rating in a report on Friday, October 7th. Vetr downgraded Illumina from a “buy” rating to a “hold” rating and set a $187.86 price objective on the stock. in a report on Monday. CL King downgraded Illumina from a “buy” rating to a “neutral” rating in a report on Monday, August 22nd. Zacks Investment Research upgraded Illumina from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a report on Friday, August 26th. Finally, Argus lifted their price objective on Illumina from $175.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, August 8th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Illumina currently has a consensus rating of “Hold” and an average price target of $157.50.
Shares of Illumina (NASDAQ:ILMN) opened at 136.18 on Tuesday. Illumina has a 1-year low of $127.10 and a 1-year high of $196.47. The stock has a market cap of $19.96 billion, a PE ratio of 46.64 and a beta of 0.47. The stock’s 50 day moving average price is $172.97 and its 200 day moving average price is $156.29.
Illumina (NASDAQ:ILMN) last announced its earnings results on Tuesday, July 26th. The life sciences company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.73 by $0.13. The business had revenue of $600 million for the quarter, compared to the consensus estimate of $31.91 million. Illumina had a return on equity of 23.69% and a net margin of 18.73%. The company’s revenue was up 11.3% on a year-over-year basis. During the same period last year, the business posted $0.80 EPS. On average, equities research analysts anticipate that Illumina will post $3.53 EPS for the current fiscal year.
In related news, Director Robert S. Epstein sold 1,200 shares of the company’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $150.00, for a total transaction of $180,000.00. Following the transaction, the director now directly owns 7,824 shares of the company’s stock, valued at $1,173,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roy A. Whitfield sold 4,000 shares of the company’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $167.22, for a total value of $668,880.00. Following the transaction, the director now directly owns 6,853 shares in the company, valued at $1,145,958.66. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ILMN. Glenmede Trust Co. NA raised its position in Illumina by 26.2% in the first quarter. Glenmede Trust Co. NA now owns 3,660 shares of the life sciences company’s stock valued at $593,000 after buying an additional 760 shares during the last quarter. Virginia Retirement System acquired a new position in Illumina during the first quarter valued at $385,000. IFP Advisors Inc raised its position in Illumina by 215.6% in the first quarter. IFP Advisors Inc now owns 1,133 shares of the life sciences company’s stock valued at $184,000 after buying an additional 774 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new position in Illumina during the first quarter valued at $403,000. Finally, Menta Capital LLC acquired a new position in Illumina during the first quarter valued at $603,000. 95.22% of the stock is currently owned by hedge funds and other institutional investors.
Illumina Company Profile
Illumina, Inc (Illumina) offers sequencing and array-based solutions for genetic analysis. The Company’s products and services serve customers in a range of markets, enabling the adoption of genomic solutions in research and clinical settings. The Company’s customers include genomic research centers, academic institutions, government laboratories and hospitals, as well as pharmaceutical, biotechnology, agrigenomics and commercial molecular diagnostic laboratories, and consumer genomics companies.
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