Illumina (NASDAQ:ILMN) Upgraded at ValuEngine

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ValuEngine upgraded shares of Illumina (NASDAQ:ILMN) from a hold rating to a buy rating in a research note published on Thursday, ValuEngine reports.

A number of other research analysts have also recently weighed in on the stock. Wolfe Research began coverage on shares of Illumina in a report on Thursday, May 30th. They issued an outperform rating for the company. Deutsche Bank cut their price objective on shares of Illumina from $290.00 to $280.00 and set a hold rating for the company in a report on Friday, July 12th. BidaskClub cut shares of Illumina from a hold rating to a sell rating in a report on Friday, September 6th. Piper Jaffray Companies cut their price objective on shares of Illumina from $382.00 to $348.00 and set an overweight rating for the company in a report on Tuesday, July 30th. Finally, UBS Group lifted their price objective on shares of Illumina from $350.00 to $355.00 and gave the company a buy rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. Illumina presently has an average rating of Buy and a consensus price target of $330.92.

ILMN opened at $300.91 on Thursday. Illumina has a fifty-two week low of $263.30 and a fifty-two week high of $380.76. 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 company has a fifty day moving average of $287.45 and a two-hundred day moving average of $313.82. The stock has a market capitalization of $43.74 billion, a price-to-earnings ratio of 51.38, a PEG ratio of 2.77 and a beta of 1.09.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Monday, July 29th. The life sciences company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.03. Illumina had a net margin of 27.56% and a return on equity of 21.73%. The company had revenue of $838.00 million during the quarter, compared to analysts’ expectations of $835.12 million. During the same quarter in the previous year, the company earned $1.43 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts forecast that Illumina will post 6.05 earnings per share for the current year.

In other news, SVP Charles Dadswell sold 1,220 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $279.88, for a total transaction of $341,453.60. Following the completion of the sale, the senior vice president now owns 5,386 shares of the company’s stock, valued at $1,507,433.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay T. Flatley sold 3,300 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $283.41, for a total transaction of $935,253.00. Following the sale, the director now directly owns 262,733 shares of the company’s stock, valued at approximately $74,461,159.53. The disclosure for this sale can be found here. Insiders have sold 56,198 shares of company stock valued at $17,773,470 in the last three months. Corporate insiders own 0.38% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Next Capital Management LLC purchased a new stake in Illumina during the 2nd quarter valued at about $25,000. Strategy Asset Managers LLC purchased a new stake in Illumina during the 1st quarter valued at about $26,000. Mizuho Securities Co. Ltd. purchased a new stake in Illumina during the 1st quarter valued at about $37,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Illumina during the 2nd quarter valued at about $37,000. Finally, Trustcore Financial Services LLC purchased a new stake in Illumina during the 2nd quarter valued at about $44,000. 90.92% of the stock is owned by institutional investors and hedge funds.

About Illumina

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Illumina (NASDAQ:ILMN)

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