Vetr Inc. Lowers Illumina, Inc. (ILMN) to Hold
Illumina, Inc. (NASDAQ:ILMN) was downgraded by Vetr from a “buy” rating to a “hold” rating in a report issued on Thursday. They currently have a $209.78 price target on the life sciences company’s stock. Vetr‘s price target would suggest a potential upside of 2.60% from the stock’s previous close.
Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded Illumina from a “hold” rating to a “buy” rating and set a $195.00 price target for the company in a report on Thursday, July 27th. Canaccord Genuity upgraded Illumina from a “hold” rating to a “buy” rating and raised their price target for the company from $170.00 to $215.00 in a report on Monday, August 7th. First Analysis upgraded Illumina from an “underweight” rating to an “equal weight” rating and set a $176.00 price target for the company in a report on Wednesday, August 2nd. Barclays PLC restated an “equal weight” rating and set a $150.00 price target on shares of Illumina in a report on Wednesday, August 9th. Finally, BidaskClub upgraded Illumina from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $177.01.
Illumina (ILMN) traded up 2.36% during mid-day trading on Thursday, hitting $204.46. 1,387,386 shares of the stock traded hands. The firm’s 50-day moving average is $186.97 and its 200 day moving average is $177.03. Illumina has a 52-week low of $119.37 and a 52-week high of $205.21. The firm has a market cap of $29.85 billion, a P/E ratio of 41.02 and a beta of 0.83.
Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Tuesday, August 1st. The life sciences company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.14. Illumina had a return on equity of 19.69% and a net margin of 30.27%. The firm had revenue of $662 million during the quarter, compared to the consensus estimate of $642.38 million. During the same period last year, the company earned $0.86 earnings per share. The company’s revenue was up 10.3% on a year-over-year basis. Equities analysts predict that Illumina will post $3.65 EPS for the current fiscal year.
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In other news, Director Jay T. Flatley sold 22,540 shares of Illumina stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $195.21, for a total transaction of $4,400,033.40. Following the transaction, the director now directly owns 539,176 shares of the company’s stock, valued at approximately $105,252,546.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Charles Dadswell sold 145 shares of Illumina stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $184.75, for a total value of $26,788.75. Following the transaction, the senior vice president now directly owns 10,791 shares in the company, valued at $1,993,637.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 159,945 shares of company stock worth $29,365,458. Insiders own 1.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Bridge Advisors bought a new position in Illumina during the first quarter worth $207,000. Daiwa Securities Group Inc. boosted its position in Illumina by 5.1% in the first quarter. Daiwa Securities Group Inc. now owns 4,100 shares of the life sciences company’s stock worth $700,000 after buying an additional 200 shares during the last quarter. Tyers Asset Management LLC boosted its position in Illumina by 12.0% in the first quarter. Tyers Asset Management LLC now owns 2,544 shares of the life sciences company’s stock worth $434,000 after buying an additional 272 shares in the last quarter. Advisory Services Network LLC acquired a new position in Illumina during the first quarter worth approximately $117,000. Finally, Canada Pension Plan Investment Board boosted its position in Illumina by 80,307.7% in the first quarter. Canada Pension Plan Investment Board now owns 20,906 shares of the life sciences company’s stock worth $3,567,000 after buying an additional 20,880 shares in the last quarter. 93.32% of the stock is currently owned by hedge funds and other institutional investors.
Illumina, Inc (Illumina) is a provider of sequencing- and array-based solutions for genetic analysis. The Company operates through two segments: Core Illumina and the consolidated variable interest entities (VIEs), which include the activities of GRAIL, Inc (GRAIL) and Helix Holdings I, LLC (Helix). Core Illumina consists of its core operations.
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