Illumina Inc. (ILMN) Price Target Cut to $135.00 by Analysts at Canaccord Genuity
Illumina Inc. (NASDAQ:ILMN) had its price objective trimmed by Canaccord Genuity from $165.00 to $135.00 in a report published on Tuesday. The brokerage currently has a hold rating on the life sciences company’s stock.
Several other equities analysts have also issued reports on ILMN. Zacks Investment Research upgraded shares of Illumina from a sell rating to a hold rating in a report on Monday, July 4th. Cantor Fitzgerald reiterated a hold rating on shares of Illumina in a report on Wednesday, June 29th. Mizuho lifted their target price on shares of Illumina from $138.00 to $148.00 and gave the company a neutral rating in a report on Wednesday, July 27th. Vetr lowered shares of Illumina from a buy rating to a sell rating and set a $142.96 target price for the company. in a report on Tuesday, July 26th. Finally, Janney Montgomery Scott lowered shares of Illumina from a neutral rating to a sell rating and decreased their price objective for the stock from $155.00 to $125.00 in a report on Tuesday. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $159.24.
Illumina (NASDAQ:ILMN) traded down 0.9609% on Tuesday, reaching $137.6545. The company had a trading volume of 1,110,512 shares. Illumina has a one year low of $127.10 and a one year high of $196.47. The company’s 50 day moving average is $174.01 and its 200-day moving average is $156.43. The firm has a market capitalization of $20.18 billion, a price-to-earnings ratio of 47.1419 and a beta of 0.47.
Illumina (NASDAQ:ILMN) last released its earnings results on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.13. Illumina had a net margin of 18.73% and a return on equity of 23.69%. The firm earned $600 million during the quarter, compared to analyst estimates of $31.91 million. During the same period last year, the business earned $0.80 earnings per share. The business’s revenue was up 11.3% on a year-over-year basis. On average, equities research analysts expect that Illumina will post $3.53 earnings per share for the current fiscal year.
In related news, Director Roy A. Whitfield sold 4,000 shares of the firm’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $167.22, for a total transaction of $668,880.00. Following the completion of the transaction, the director now owns 6,853 shares of the company’s stock, valued at $1,145,958.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel Bradbury sold 600 shares of the firm’s stock in a transaction on Friday, October 7th. The stock was sold at an average price of $184.36, for a total transaction of $110,616.00. Following the transaction, the director now directly owns 17,065 shares of the company’s stock, valued at approximately $3,146,103.40. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of ILMN. Cleararc Capital Inc. boosted its position in shares of Illumina by 0.7% in the first quarter. Cleararc Capital Inc. now owns 3,344 shares of the life sciences company’s stock valued at $542,000 after buying an additional 23 shares during the period. Tiverton Asset Management LLC acquired a new position in shares of Illumina during the first quarter valued at about $2,372,000. Riverhead Capital Management LLC boosted its position in shares of Illumina by 130.5% in the first quarter. Riverhead Capital Management LLC now owns 11,873 shares of the life sciences company’s stock valued at $1,924,000 after buying an additional 6,723 shares during the period. Marsico Capital Management LLC boosted its position in shares of Illumina by 4.8% in the first quarter. Marsico Capital Management LLC now owns 11,898 shares of the life sciences company’s stock valued at $1,929,000 after buying an additional 546 shares during the period. Finally, State Farm Mutual Automobile Insurance Co. boosted its position in shares of Illumina by 39.5% in the first quarter. State Farm Mutual Automobile Insurance Co. now owns 61,570 shares of the life sciences company’s stock valued at $9,981,000 after buying an additional 17,440 shares during the period. 95.22% of the stock is owned by hedge funds and other institutional investors.
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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