Illumina Inc. (ILMN) Rating Increased to Strong-Buy at Vetr Inc.
Illumina Inc. (NASDAQ:ILMN) was upgraded by investment analysts at Vetr from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $165.56 price target on the life sciences company’s stock. Vetr‘s price target suggests a potential upside of 19.12% from the stock’s current price.
ILMN has been the topic of a number of other research reports. Citigroup Inc. increased their price target on Illumina from $175.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, September 12th. Canaccord Genuity set a $136.00 price target on Illumina and gave the stock a “hold” rating in a research report on Friday. CL King downgraded Illumina from a “buy” rating to a “neutral” rating in a research report on Monday, August 22nd. Morgan Stanley downgraded Illumina from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $130.00 to $110.00 in a research report on Tuesday, July 5th. Finally, Zacks Investment Research raised Illumina from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a research report on Friday, August 26th. Two 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. Illumina currently has an average rating of “Hold” and an average price target of $159.24.
Illumina (NASDAQ:ILMN) traded down 24.81% during trading on Tuesday, hitting $138.99. The stock had a trading volume of 11,033,440 shares. The stock’s 50-day moving average is $174.01 and its 200-day moving average is $156.43. Illumina has a 52-week low of $127.10 and a 52-week high of $196.47. The stock has a market capitalization of $20.38 billion, a PE ratio of 47.60 and a beta of 0.47.
Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Tuesday, July 26th. The life sciences company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.13. The company had revenue of $600 million for 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 quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.80 EPS. On average, analysts predict that Illumina will post $3.53 earnings per share for the current fiscal year.
In other Illumina news, Director Robert S. Epstein sold 300 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $170.27, for a total value of $51,081.00. Following the sale, the director now directly owns 7,224 shares of the company’s stock, valued at $1,230,030.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director A Blaine Bowman sold 5,000 shares of Illumina stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $147.14, for a total value of $735,700.00. Following the completion of the sale, the director now directly 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 owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Baillie Gifford & Co. raised its stake in shares of Illumina by 3.8% in the second quarter. Baillie Gifford & Co. now owns 18,615,061 shares of the life sciences company’s stock worth $2,613,182,000 after buying an additional 682,010 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Illumina by 17.1% in the second quarter. Capital Research Global Investors now owns 13,085,071 shares of the life sciences company’s stock worth $1,836,882,000 after buying an additional 1,910,346 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Illumina by 2.0% in the second quarter. Vanguard Group Inc. now owns 8,982,784 shares of the life sciences company’s stock worth $1,261,004,000 after buying an additional 178,186 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Illumina by 1.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,835,363 shares of the life sciences company’s stock worth $538,408,000 after buying an additional 43,515 shares in the last quarter. Finally, Capital World Investors raised its stake in shares of Illumina by 218.0% in the second quarter. Capital World Investors now owns 1,463,000 shares of the life sciences company’s stock worth $205,376,000 after buying an additional 1,003,000 shares in the last quarter. 95.22% of the stock is currently owned by hedge funds and other institutional investors.
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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