Illumina (NASDAQ:ILMN) Lowered to “Hold” Rating by Zacks Research

Zacks Research cut shares of Illumina (NASDAQ:ILMN) from a strong-buy rating to a hold rating in a report released on Wednesday morning,Zacks.com reports.

ILMN has been the topic of several other reports. Evercore ISI upped their price target on Illumina from $132.00 to $142.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Illumina in a research note on Monday. TD Cowen increased their price target on shares of Illumina from $110.00 to $115.00 and gave the stock a “hold” rating in a research report on Friday, October 31st. Wall Street Zen cut shares of Illumina from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Canaccord Genuity Group upped their price objective on shares of Illumina from $112.00 to $130.00 and gave the company a “hold” rating in a research note on Monday, December 22nd. Five equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Illumina currently has an average rating of “Hold” and an average target price of $118.31.

Illumina Stock Up 2.4%

ILMN stock opened at $134.35 on Wednesday. Illumina has a 52-week low of $68.70 and a 52-week high of $153.06. The company’s 50 day simple moving average is $125.81 and its 200-day simple moving average is $107.73. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.43 and a quick ratio of 1.12. The firm has a market capitalization of $20.53 billion, a P/E ratio of 30.12, a P/E/G ratio of 2.19 and a beta of 1.44.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, October 30th. The life sciences company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.18. Illumina had a net margin of 16.40% and a return on equity of 29.21%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business posted $1.14 EPS. The company’s revenue was up .4% on a year-over-year basis. Illumina has set its FY 2025 guidance at 4.650-4.750 EPS. As a group, equities research analysts anticipate that Illumina will post 4.51 EPS for the current year.

Insider Buying and Selling

In related news, insider Scott M. Davies sold 323 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $136.09, for a total value of $43,957.07. Following the completion of the sale, the insider directly owned 17,887 shares in the company, valued at approximately $2,434,241.83. This represents a 1.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Scott Gottlieb bought 500 shares of the stock in a transaction on Monday, November 3rd. The shares were acquired at an average cost of $122.13 per share, for a total transaction of $61,065.00. Following the completion of the transaction, the director directly owned 12,523 shares of the company’s stock, valued at approximately $1,529,433.99. The trade was a 4.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Next Capital Management LLC acquired a new position in shares of Illumina in the 2nd quarter worth approximately $341,000. CWM LLC boosted its stake in Illumina by 112.9% in the 2nd quarter. CWM LLC now owns 76,711 shares of the life sciences company’s stock valued at $7,319,000 after buying an additional 40,676 shares in the last quarter. Andra AP fonden boosted its stake in Illumina by 426.3% in the 2nd quarter. Andra AP fonden now owns 102,491 shares of the life sciences company’s stock valued at $9,779,000 after buying an additional 83,017 shares in the last quarter. Bourgeon Capital Management LLC grew its position in Illumina by 76.4% in the second quarter. Bourgeon Capital Management LLC now owns 141,896 shares of the life sciences company’s stock valued at $13,538,000 after acquiring an additional 61,468 shares during the period. Finally, Aaron Wealth Advisors LLC raised its stake in Illumina by 342.6% during the third quarter. Aaron Wealth Advisors LLC now owns 10,476 shares of the life sciences company’s stock worth $995,000 after acquiring an additional 8,109 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Company Profile

Illumina, Inc (NASDAQ: ILMN) is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company’s product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.