Illumina Inc. (ILMN) Earns Market Perform Rating from Wells Fargo & Co.
Illumina Inc. (NASDAQ:ILMN)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Wells Fargo & Co. in a report released on Wednesday. They currently have a $137.50 price target on the life sciences company’s stock, down from their previous price target of $150.00. Wells Fargo & Co.’s target price would suggest a potential upside of 0.97% from the stock’s previous close.
Other analysts also recently issued reports about the stock. Vetr downgraded shares of Illumina from a “strong-buy” rating to a “buy” rating and set a $167.08 target price for the company. in a research report on Monday, July 18th. CL King started coverage on shares of Illumina in a report on Tuesday, June 21st. They set a “buy” rating and a $165.00 price objective for the company. Argus upped their price objective on shares of Illumina from $175.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, August 8th. Zacks Investment Research raised shares of Illumina from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a report on Friday, August 26th. Finally, Citigroup Inc. upped their price objective on shares of Illumina from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, September 12th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Illumina currently has an average rating of “Hold” and an average price target of $158.34.
Illumina (NASDAQ:ILMN) traded down 2.02% during midday trading on Wednesday, hitting $136.18. 2,882,037 shares of the stock traded hands. The stock has a market cap of $19.96 billion, a PE ratio of 46.64 and a beta of 0.47. Illumina has a 1-year low of $127.10 and a 1-year high of $196.47. The company has a 50-day moving average of $174.01 and a 200-day moving average of $156.43.
Illumina (NASDAQ:ILMN) last posted its earnings results on Tuesday, July 26th. The life sciences company reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 net margin of 18.73% and a return on equity of 23.69%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 earnings per share. On average, equities analysts expect that Illumina will post $3.53 EPS for the current fiscal year.
In other Illumina news, Director Jay T. Flatley sold 20,000 shares of the firm’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 transaction of $3,459,800.00. Following the sale, the director now directly owns 508,061 shares in the company, valued at approximately $87,889,472.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director A Blaine Bowman sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $147.14, for a total transaction of $735,700.00. Following the sale, the director now owns 20,704 shares in the company, valued at $3,046,386.56. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the company. Physicians Financial Services Inc. increased its stake in shares of Illumina by 2,121.2% in the second quarter. Physicians Financial Services Inc. now owns 733 shares of the life sciences company’s stock valued at $103,000 after buying an additional 700 shares during the period. Northwestern Mutual Wealth Management Co. increased 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 period. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Illumina during the second quarter valued at approximately $112,000. Ropes Wealth Advisors LLC increased 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 period. Finally, Checchi Capital Advisers LLC increased 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 period. Hedge funds and other institutional investors 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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