BidaskClub upgraded shares of Illumina (NASDAQ:ILMN) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday, BidAskClub reports.

Other research analysts have also recently issued reports about the company. Canaccord Genuity reaffirmed a buy rating and set a $360.00 price objective (up from $350.00) on shares of Illumina in a research note on Monday, June 10th. Wolfe Research began coverage on Illumina in a research note on Thursday, May 30th. They set an outperform rating on the stock. OTR Global cut Illumina to a positive rating in a research note on Tuesday, April 2nd. Finally, Zacks Investment Research cut Illumina from a buy rating to a hold rating in a research note on Wednesday, March 27th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $354.35.

ILMN opened at $358.08 on Friday. The company has a market capitalization of $52.59 billion, a PE ratio of 62.60, a PEG ratio of 2.52 and a beta of 1.06. The company has a current ratio of 3.66, a quick ratio of 3.33 and a debt-to-equity ratio of 0.27. Illumina has a 52 week low of $268.62 and a 52 week high of $372.61. The company has a fifty day moving average price of $325.04.

Illumina (NASDAQ:ILMN) last released its earnings results on Thursday, April 25th. The life sciences company reported $1.60 EPS for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.26. The business had revenue of $846.00 million for the quarter, compared to analysts’ expectations of $838.70 million. Illumina had a return on equity of 23.49% and a net margin of 25.06%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.45 earnings per share. As a group, equities research analysts predict that Illumina will post 6.68 EPS for the current year.

In related news, SVP Charles Dadswell sold 124 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $314.45, for a total value of $38,991.80. Following the sale, the senior vice president now directly owns 8,210 shares of the company’s stock, valued at $2,581,634.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mostafa Ronaghi sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $349.28, for a total value of $3,492,800.00. Following the completion of the sale, the senior vice president now directly owns 65,994 shares in the company, valued at $23,050,384.32. The disclosure for this sale can be found here. Insiders sold 56,991 shares of company stock worth $18,227,564 over the last three months. 0.38% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Strategy Asset Managers LLC purchased a new position in shares of Illumina during the first quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Illumina by 83.0% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 86 shares of the life sciences company’s stock valued at $26,000 after purchasing an additional 39 shares during the last quarter. C J Advisory Inc purchased a new position in shares of Illumina during the first quarter valued at approximately $29,000. Proficio Capital Partners LLC lifted its holdings in shares of Illumina by 61.7% during the fourth quarter. Proficio Capital Partners LLC now owns 97 shares of the life sciences company’s stock valued at $29,000 after purchasing an additional 37 shares during the last quarter. Finally, Lake Point Wealth Management purchased a new position in shares of Illumina during the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.69% of the company’s stock.

About Illumina

Illumina, Inc provides sequencing and array-based solutions for genetic analysis. The company operates in two segments, Core Illumina and Consolidated VIEs. It offers sequencing that provides researchers with various applications and the ability to sequence mammalian genomes; and arrays for a range of deoxyribonucleic acid and RNA analysis applications, including single nucleotide polymorphism genotyping, copy number variations analysis, gene expression analysis, and methylation analysis, as well as enables the detection of known genetic markers on a single array.

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Analyst Recommendations for Illumina (NASDAQ:ILMN)

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