Janney Montgomery Scott lowered shares of Illumina Inc. (NASDAQ:ILMN) from a neutral rating to a sell rating in a research note published on Tuesday morning. The firm currently has $125.00 target price on the life sciences company’s stock, down from their previous target price of $155.00.
A number of other equities analysts have also recently commented on the stock. Morgan Stanley cut shares of Illumina from an equal weight rating to an underweight rating and reduced their price objective for the stock from $130.00 to $110.00 in a research report on Tuesday, July 5th. Vetr raised shares of Illumina from a sell rating to a buy rating and set a $198.61 price objective for the company in a research report on Monday, October 3rd. CL King cut shares of Illumina from a buy rating to a neutral rating in a research report on Monday, August 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Illumina from $185.00 to $200.00 and gave the stock an overweight rating in a research report on Wednesday, July 27th. Finally, Zacks Investment Research cut shares of Illumina from a buy rating to a hold rating in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $156.88.
Illumina (NASDAQ:ILMN) opened at 138.00 on Tuesday. The firm has a market cap of $20.23 billion, a price-to-earnings ratio of 47.26 and a beta of 0.47. Illumina has a 1-year low of $127.10 and a 1-year high of $196.47. The firm has a 50-day moving average of $171.14 and a 200 day moving average of $156.05.
Illumina (NASDAQ:ILMN) last issued its earnings results on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share for the quarter, topping the Zacks’ 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 net margin of 18.73% and a return on equity of 23.69%. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 earnings per share. Analysts expect that Illumina will post $3.53 earnings per share for the current fiscal year.
In related news, SVP Charles Dadswell sold 8,632 shares of the stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $155.00, for a total value of $1,337,960.00. Following the transaction, the senior vice president now directly owns 40,248 shares in the company, valued at approximately $6,238,440. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel Bradbury sold 600 shares of the stock in a transaction on Friday, October 7th. The stock was sold at an average price of $184.36, for a total value of $110,616.00. Following the completion of the transaction, the director now owns 17,065 shares in the company, valued at $3,146,103.40. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
Several institutional investors have recently modified their holdings of ILMN. National Pension Service boosted its position in shares of Illumina by 8.6% in the third quarter. National Pension Service now owns 106,584 shares of the life sciences company’s stock worth $19,362,000 after buying an additional 8,485 shares in the last quarter. Private Trust Co. NA purchased a new position in shares of Illumina during the third quarter worth about $232,000. Gulf International Bank UK Ltd boosted its position in shares of Illumina by 0.8% in the third quarter. Gulf International Bank UK Ltd now owns 44,340 shares of the life sciences company’s stock worth $8,054,000 after buying an additional 350 shares in the last quarter. Patten & Patten Inc. TN purchased a new position in shares of Illumina during the third quarter worth about $211,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Illumina during the third quarter worth about $509,000. Institutional investors own 95.24% of the company’s stock.
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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