Illumina Inc. (NASDAQ:ILMN)‘s stock had its “outperform” rating reaffirmed by stock analysts at Cowen and Company in a report issued on Wednesday. They currently have a $160.00 target price on the life sciences company’s stock. Cowen and Company’s price target would indicate a potential upside of 16.59% from the company’s current price.
A number of other equities research analysts also recently issued reports on ILMN. CL King initiated coverage on shares of Illumina in a research report on Tuesday, June 21st. They set a “buy” rating and a $165.00 price objective for the company. Cantor Fitzgerald reissued a “hold” rating on shares of Illumina in a research report on Wednesday, June 29th. Zacks Investment Research raised shares of Illumina from a “sell” rating to a “hold” rating in a research report on Monday, July 4th. Morgan Stanley downgraded shares of Illumina from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $130.00 to $110.00 in a research report on Tuesday, July 5th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and set a $161.00 price objective on shares of Illumina in a research report on Friday, July 15th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $156.88.
Shares of Illumina (NASDAQ:ILMN) opened at 137.17 on Wednesday. The firm’s 50-day moving average price is $172.04 and its 200-day moving average price is $156.15. Illumina has a 52-week low of $127.10 and a 52-week high of $196.47. The stock has a market cap of $20.11 billion, a P/E ratio of 46.98 and a beta of 0.47.
Illumina (NASDAQ:ILMN) last announced its earnings results on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. The business earned $600 million during the quarter, compared to analyst estimates of $31.91 million. Illumina had a net margin of 18.73% and a return on equity of 23.69%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 EPS. Equities analysts predict that Illumina will post $3.53 EPS for the current year.
In other Illumina news, Director Roy A. Whitfield sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $167.22, for a total transaction of $668,880.00. Following the sale, the director now directly owns 6,853 shares of the company’s stock, valued at approximately $1,145,958.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Charles Dadswell sold 8,632 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $155.00, for a total transaction of $1,337,960.00. Following the sale, the senior vice president now directly owns 40,248 shares in the company, valued at $6,238,440. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in ILMN. Baillie Gifford & Co. boosted its stake in Illumina by 3.8% in the second quarter. Baillie Gifford & Co. now owns 18,615,061 shares of the life sciences company’s stock valued at $2,613,182,000 after buying an additional 682,010 shares in the last quarter. Capital Research Global Investors boosted its stake in Illumina by 17.1% in the second quarter. Capital Research Global Investors now owns 13,085,071 shares of the life sciences company’s stock valued at $1,836,882,000 after buying an additional 1,910,346 shares in the last quarter. Vanguard Group Inc. boosted its stake in Illumina by 2.0% in the second quarter. Vanguard Group Inc. now owns 8,982,784 shares of the life sciences company’s stock valued at $1,261,004,000 after buying an additional 178,186 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Illumina by 1.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,835,363 shares of the life sciences company’s stock valued at $538,408,000 after buying an additional 43,515 shares in the last quarter. Finally, Capital World Investors boosted its stake in Illumina by 218.0% in the second quarter. Capital World Investors now owns 1,463,000 shares of the life sciences company’s stock valued at $205,376,000 after buying an additional 1,003,000 shares in the last quarter. 95.22% of the stock is currently owned by institutional investors.
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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