Cowen and Company reaffirmed their outperform rating on shares of Illumina Inc. (NASDAQ:ILMN) in a report issued on Wednesday morning. The brokerage currently has a $160.00 target price on the life sciences company’s stock.

ILMN has been the subject of several other reports. Citigroup Inc. raised their price objective on shares of 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 shares of Illumina and gave the company a hold rating in a research report on Friday, October 7th. Vetr upgraded shares of Illumina from a sell rating to a buy rating and set a $198.61 price target for the company in a research report on Monday, October 3rd. CL King cut shares of Illumina from a buy rating to a neutral rating in a research report on Monday, August 22nd. Finally, Morgan Stanley cut shares of Illumina from an equal weight rating to an underweight rating and dropped their price target for the company from $130.00 to $110.00 in a research report on Tuesday, July 5th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Illumina has a consensus rating of Hold and an average price target of $157.50.

Analyst Recommendations for Illumina (NASDAQ:ILMN)

Shares of Illumina (NASDAQ:ILMN) traded down 0.54% during midday trading on Wednesday, hitting $135.45. 486,802 shares of the stock traded hands. The stock has a 50-day moving average of $172.97 and a 200-day moving average of $156.29. The company has a market cap of $19.86 billion, a price-to-earnings ratio of 46.39 and a beta of 0.47. Illumina has a 52-week low of $127.10 and a 52-week high of $196.47.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $31.91 million. During the same period last year, the business earned $0.80 earnings per share. Illumina’s revenue was up 11.3% compared to the same quarter last year. On average, equities analysts predict that Illumina will post $3.53 earnings per share for the current fiscal year.

In other news, Director Jay T. Flatley sold 10,000 shares of the stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the director now directly owns 498,061 shares in the company, valued at approximately $74,709,150. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert S. Epstein sold 300 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $170.27, for a total value of $51,081.00. Following the transaction, the director now owns 7,224 shares of the company’s stock, valued at $1,230,030.48. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in ILMN. Checchi Capital Advisers LLC boosted its position 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. Cleararc Capital Inc. boosted its position in 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. Mn Services Vermogensbeheer B.V. boosted its position in Illumina by 1.1% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 3,698 shares of the life sciences company’s stock valued at $467,000 after buying an additional 39 shares during the period. Nippon Life Insurance Co. boosted its position in Illumina by 0.5% in the second quarter. Nippon Life Insurance Co. now owns 7,877 shares of the life sciences company’s stock valued at $1,106,000 after buying an additional 40 shares during the period. Finally, Regent Investment Management LLC boosted its position in Illumina by 1.8% in the second quarter. Regent Investment Management LLC now owns 4,250 shares of the life sciences company’s stock valued at $597,000 after buying an additional 75 shares during the period. 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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