Illumina Inc. (ILMN) Downgraded to “Neutral” at Citigroup Inc.
Citigroup Inc. downgraded shares of Illumina Inc. (NASDAQ:ILMN) from a buy rating to a neutral rating in a research note released on Tuesday. They currently have $140.00 price target on the life sciences company’s stock, down from their previous price target of $190.00.
Other analysts have also issued research reports about the company. Vetr lowered Illumina from a strong-buy rating to a buy rating and set a $167.08 target price on the stock. in a research note on Monday, July 18th. CL King initiated coverage on Illumina in a research note on Tuesday, June 21st. They issued a buy rating and a $165.00 target price on the stock. Argus increased their target price on Illumina from $175.00 to $185.00 and gave the stock a buy rating in a research note on Monday, August 8th. Zacks Investment Research upgraded Illumina from a hold rating to a buy rating and set a $190.00 target price on the stock in a research note on Friday, August 26th. Finally, Cantor Fitzgerald reiterated a hold rating on shares of Illumina in a research note on Wednesday, June 29th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $159.24.
Shares of Illumina (NASDAQ:ILMN) traded down 1.60% during trading on Tuesday, reaching $136.76. 1,225,690 shares of the company were exchanged. The firm’s 50 day moving average is $174.01 and its 200 day moving average is $156.43. Illumina has a 1-year low of $127.10 and a 1-year high of $196.47. The firm has a market capitalization of $20.05 billion, a P/E ratio of 46.84 and a beta of 0.47.
Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The company earned $600 million during the quarter, compared to the consensus estimate of $31.91 million. Illumina had a return on equity of 23.69% and a net margin of 18.73%. Illumina’s revenue was up 11.3% on a year-over-year basis. During the same period last year, the company earned $0.80 earnings per share. On average, equities analysts anticipate that Illumina will post $3.53 EPS for the current fiscal year.
In other news, Director Daniel Bradbury sold 600 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 17,065 shares in the company, valued at $3,146,103.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay T. Flatley sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $172.99, for a total value of $3,459,800.00. Following the completion of the sale, the director now owns 508,061 shares of the company’s stock, valued at $87,889,472.39. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Physicians Financial Services Inc. boosted its stake 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 period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Illumina during the second quarter valued at approximately $112,000. Ropes Wealth Advisors LLC boosted its stake in shares of 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 last quarter. Finally, Checchi Capital Advisers LLC boosted its stake in shares of 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 last quarter. Institutional investors and hedge funds own 95.22% 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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