Illumina (NASDAQ:ILMN) Sets New 52-Week High After Analyst Upgrade

Illumina, Inc. (NASDAQ:ILMN)’s stock price reached a new 52-week high during trading on Wednesday after Piper Sandler raised their price target on the stock from $170.00 to $200.00. Piper Sandler currently has an overweight rating on the stock. Illumina traded as high as $183.00 and last traded at $182.1150, with a volume of 252998 shares. The stock had previously closed at $175.83.

Several other equities analysts also recently issued reports on the company. Daiwa Securities Group raised Illumina from a “neutral” rating to an “outperform” rating and set a $155.00 target price on the stock in a research report on Thursday, May 14th. Canaccord Genuity Group dropped their price target on Illumina from $150.00 to $140.00 and set a “hold” rating on the stock in a research note on Friday, May 1st. Sanford C. Bernstein started coverage on Illumina in a report on Friday. They issued a “market perform” rating and a $185.00 price objective on the stock. Evercore restated an “outperform” rating on shares of Illumina in a research note on Friday, May 1st. Finally, Royal Bank Of Canada initiated coverage on Illumina in a report on Thursday, May 14th. They set an “outperform” rating and a $170.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $148.94.

Insider Buying and Selling

In other Illumina news, SVP Christensen Jakob Wedel sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $139.04, for a total value of $97,328.00. Following the sale, the senior vice president directly owned 15,056 shares of the company’s stock, valued at approximately $2,093,386.24. This trade represents a 4.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Keith A. Meister sold 235,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $163.63, for a total value of $38,453,050.00. Following the completion of the sale, the director owned 2,830,452 shares of the company’s stock, valued at $463,146,860.76. This trade represents a 7.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,003,769 shares of company stock worth $155,710,908 in the last ninety days. 2.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Illumina

A number of large investors have recently added to or reduced their stakes in the stock. Elyxium Wealth LLC purchased a new position in Illumina during the fourth quarter valued at $25,000. Board of the Pension Protection Fund purchased a new stake in shares of Illumina during the fourth quarter worth about $26,000. Creative Capital Management Investments LLC raised its position in shares of Illumina by 160.0% during the 4th quarter. Creative Capital Management Investments LLC now owns 195 shares of the life sciences company’s stock worth $26,000 after purchasing an additional 120 shares during the last quarter. TD Waterhouse Canada Inc. acquired a new position in shares of Illumina during the 4th quarter worth about $26,000. Finally, Laurel Wealth Advisors LLC purchased a new position in Illumina in the 4th quarter valued at about $26,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Illumina Price Performance

The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.36 and a current ratio of 1.75. The stock has a market capitalization of $27.41 billion, a PE ratio of 33.02, a price-to-earnings-growth ratio of 3.39 and a beta of 1.50. The stock’s 50 day moving average is $151.42 and its two-hundred day moving average is $138.36.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Thursday, April 30th. The life sciences company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.10. Illumina had a return on equity of 31.01% and a net margin of 19.42%.The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm posted $0.97 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. On average, equities analysts anticipate that Illumina, Inc. will post 5.21 EPS for the current fiscal year.

About Illumina

Illumina, Inc (NASDAQ: ILMN) is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company’s product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.