Illumina Inc. (NASDAQ:ILMN) had its target price reduced by analysts at Cantor Fitzgerald from $165.00 to $155.00 in a research note issued on Tuesday. The brokerage currently has a “hold” rating on the life sciences company’s stock. Cantor Fitzgerald’s price target would indicate a potential downside of 16.15% from the company’s current price.

A number of other brokerages have also recently issued reports on ILMN. JPMorgan Chase & Co. raised their target price on Illumina from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, July 27th. Vetr cut Illumina from a “buy” rating to a “hold” rating and set a $187.86 target price on the stock. in a report on Monday. Argus lifted their price objective on Illumina from $175.00 to $185.00 and gave the company a “buy” rating in a report on Monday, August 8th. Mizuho lifted their price objective on Illumina from $138.00 to $148.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. Finally, Citigroup Inc. lifted their price objective on Illumina from $175.00 to $190.00 and gave the company a “buy” rating in a report on Monday, September 12th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $165.12.

Analyst Recommendations for Illumina (NASDAQ:ILMN)

Illumina (NASDAQ:ILMN) last issued its earnings results on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.13. Illumina had a return on equity of 23.69% and a net margin of 18.73%. The firm had revenue of $600 million for the quarter, compared to analysts’ expectations of $31.91 million. During the same quarter last year, the business earned $0.80 earnings per share. The company’s revenue was up 11.3% compared to the same quarter last year.

In related news, Director Robert S. Epstein sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $174.29, for a total transaction of $52,287.00. Following the transaction, the director now directly owns 6,924 shares of the company’s stock, valued at approximately $1,206,783.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jay T. Flatley sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $172.99, for a total value of $3,459,800.00. Following the transaction, the director now directly owns 508,061 shares in the company, valued at $87,889,472.39. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Physicians Financial Services Inc. raised its position in Illumina by 2,121.2% in the second quarter. Physicians Financial Services Inc. now owns 733 shares of the life sciences company’s stock worth $103,000 after buying an additional 700 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Illumina by 25.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 789 shares of the life sciences company’s stock valued at $110,000 after buying an additional 158 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new stake in Illumina during the second quarter valued at about $112,000. Ropes Wealth Advisors LLC increased its stake in Illumina by 72.6% in the second quarter. Ropes Wealth Advisors LLC now owns 863 shares of the life sciences company’s stock valued at $121,000 after buying an additional 363 shares during the period. Finally, Checchi Capital Advisers LLC increased its stake in Illumina by 2.4% in the second quarter. Checchi Capital Advisers LLC now owns 958 shares of the life sciences company’s stock valued at $134,000 after buying an additional 22 shares during the period. 95.22% of the stock is currently owned by institutional investors and hedge funds.

About Illumina

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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