Illumina, Inc. (ILMN) Stock Rating Reaffirmed by Cowen and Company
Illumina, Inc. (NASDAQ:ILMN)‘s stock had its “outperform” rating reissued by equities researchers at Cowen and Company in a research report issued to clients and investors on Wednesday. They presently have a $150.00 target price on the life sciences company’s stock. Cowen and Company’s target price would suggest a potential downside of 7.89% from the company’s current price.
A number of other brokerages have also issued reports on ILMN. First Analysis lowered Illumina from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $130.00 to $116.00 in a research report on Wednesday, November 2nd. Canaccord Genuity set a $135.00 target price on Illumina and gave the company a “hold” rating in a research report on Wednesday, November 2nd. Vetr raised Illumina from a “hold” rating to a “buy” rating and set a $138.44 target price on the stock in a research report on Thursday, December 1st. Wells Fargo & Company reissued a “market perform” rating and issued a $137.50 target price (down previously from $150.00) on shares of Illumina in a research report on Wednesday, October 12th. Finally, Cantor Fitzgerald dropped their target price on Illumina from $165.00 to $155.00 and set a “hold” rating on the stock in a research report on Tuesday, October 11th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company. Illumina presently has a consensus rating of “Hold” and a consensus target price of $151.96.
Illumina (NASDAQ:ILMN) traded up 0.49% during midday trading on Wednesday, hitting $163.63. The stock had a trading volume of 562,715 shares. The firm has a market capitalization of $24.04 billion, a price-to-earnings ratio of 54.91 and a beta of 1.16. The firm has a 50-day moving average price of $130.13 and a 200-day moving average price of $150.44. Illumina has a 1-year low of $119.37 and a 1-year high of $186.88.
Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Tuesday, November 1st. The life sciences company reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.10. Illumina had a return on equity of 23.76% and a net margin of 18.72%. The business had revenue of $607 million for the quarter, compared to analysts’ expectations of $628.06 million. During the same quarter in the previous year, the business posted $0.80 EPS. Illumina’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, equities research analysts anticipate that Illumina will post $3.32 earnings per share for the current year.
In other news, EVP Omead Ostadan sold 3,000 shares of the stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $121.63, for a total value of $364,890.00. Following the completion of the sale, the executive vice president now owns 52,988 shares of the company’s stock, valued at $6,444,930.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel Bradbury sold 600 shares of the stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $135.01, for a total value of $81,006.00. Following the completion of the sale, the director now directly owns 17,065 shares of the company’s stock, valued at approximately $2,303,945.65. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of ILMN. Capital Research Global Investors boosted its stake in shares of Illumina by 17.1% in the second quarter. Capital Research Global Investors now owns 13,085,071 shares of the life sciences company’s stock valued at $1,836,882,000 after buying an additional 1,910,346 shares during the last quarter. Capital World Investors boosted its stake in shares of Illumina by 218.0% in the second quarter. Capital World Investors now owns 1,463,000 shares of the life sciences company’s stock valued at $205,376,000 after buying an additional 1,003,000 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of Illumina by 3.8% in the second quarter. Baillie Gifford & Co. now owns 18,615,061 shares of the life sciences company’s stock valued at $2,613,182,000 after buying an additional 682,010 shares during the last quarter. American Capital Management Inc. bought a new stake in shares of Illumina during the third quarter valued at $43,373,000. Finally, Vanguard Group Inc. boosted its stake in shares of Illumina by 2.0% in the second quarter. Vanguard Group Inc. now owns 8,982,784 shares of the life sciences company’s stock valued at $1,261,004,000 after buying an additional 178,186 shares during the last quarter. 92.94% of the stock is owned by institutional investors.
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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