Morgan Stanley Increases Illumina (ILMN) Price Target to $135.00
Illumina (NASDAQ:ILMN) had its target price hoisted by equities researchers at Morgan Stanley from $122.00 to $135.00 in a research note issued on Thursday. The brokerage currently has an “underweight” rating on the life sciences company’s stock. Morgan Stanley’s price target points to a potential downside of 37.20% from the stock’s current price.
Other analysts have also issued research reports about the stock. Wells Fargo & Company reaffirmed a “market perform” rating and set a $205.00 target price (up previously from $200.00) on shares of Illumina in a report on Wednesday, October 25th. Zacks Investment Research raised shares of Illumina from a “hold” rating to a “buy” rating and set a $252.00 price target for the company in a research note on Tuesday, December 5th. Bank of America boosted their price target on shares of Illumina from $215.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. BidaskClub cut shares of Illumina from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Finally, Vetr raised shares of Illumina from a “hold” rating to a “buy” rating and set a $217.50 price target for the company in a research note on Tuesday, September 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $202.60.
Illumina (ILMN) traded up $0.42 during trading on Thursday, reaching $214.97. 83,066 shares of the company were exchanged, compared to its average volume of 951,530. The company has a quick ratio of 3.73, a current ratio of 4.22 and a debt-to-equity ratio of 0.41. The company has a market cap of $31,045.44, a price-to-earnings ratio of 62.17, a PEG ratio of 3.51 and a beta of 0.79. Illumina has a twelve month low of $124.82 and a twelve month high of $230.72.
In other Illumina news, SVP Charles Dadswell sold 145 shares of the stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $202.23, for a total transaction of $29,323.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert S. Epstein sold 1,250 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $226.55, for a total transaction of $283,187.50. Following the sale, the director now directly owns 9,088 shares of the company’s stock, valued at approximately $2,058,886.40. The disclosure for this sale can be found here. Insiders sold a total of 136,421 shares of company stock valued at $28,489,101 in the last ninety days. 0.89% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Illumina by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 9,904,340 shares of the life sciences company’s stock valued at $1,718,601,000 after buying an additional 255,498 shares during the period. Ameriprise Financial Inc. raised its holdings in Illumina by 3.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,512,167 shares of the life sciences company’s stock worth $500,416,000 after purchasing an additional 76,452 shares in the last quarter. Capital World Investors raised its holdings in Illumina by 23.8% in the 2nd quarter. Capital World Investors now owns 2,135,000 shares of the life sciences company’s stock worth $370,465,000 after purchasing an additional 410,000 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in Illumina by 55.6% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,475,669 shares of the life sciences company’s stock worth $256,058,000 after purchasing an additional 527,548 shares in the last quarter. Finally, Winslow Capital Management LLC bought a new position in Illumina in the 2nd quarter worth $211,584,000. 91.75% of the stock is owned by institutional investors and hedge funds.
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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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