Bank of America upgraded shares of Illumina, Inc. (NASDAQ:ILMN) from a neutral rating to a buy rating in a research note issued to investors on Tuesday. Bank of America currently has $175.00 target price on the life sciences company’s stock, up from their previous target price of $145.00.

A number of other brokerages have also recently commented on ILMN. Canaccord Genuity set a $136.00 price target on Illumina and gave the stock a hold rating in a research report on Friday, October 7th. Barclays PLC set a $142.00 price objective on Illumina and gave the company an equal weight rating in a report on Tuesday, October 11th. Cantor Fitzgerald decreased their price objective on Illumina from $165.00 to $155.00 and set a hold rating for the company in a report on Tuesday, October 11th. Janney Montgomery Scott cut Illumina from a neutral rating to a sell rating and decreased their price objective for the company from $155.00 to $125.00 in a report on Tuesday, October 11th. Finally, Citigroup Inc. cut Illumina from a buy rating to a neutral rating and decreased their price objective for the company from $190.00 to $140.00 in a report on Tuesday, October 11th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company’s stock. Illumina currently has a consensus rating of Hold and an average price target of $151.96.

Analyst Recommendations for Illumina (NASDAQ:ILMN)

Illumina (NASDAQ:ILMN) traded up 0.40% during mid-day trading on Tuesday, hitting $163.49. The company had a trading volume of 828,938 shares. The firm has a market capitalization of $24.02 billion, a P/E ratio of 54.86 and a beta of 1.16. The company has a 50-day moving average price of $130.13 and a 200 day moving average price of $150.44. Illumina has a 12 month low of $119.37 and a 12 month high of $186.88.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Tuesday, November 1st. The life sciences company reported $0.97 EPS for the quarter, topping the Zacks’ 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 company earned $607 million during the quarter, compared to analysts’ expectations of $628.06 million. During the same quarter in the previous year, the firm posted $0.80 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. Equities analysts forecast that Illumina will post $3.32 EPS for the current fiscal year.

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In other Illumina news, EVP Omead Ostadan sold 3,000 shares of the company’s stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $133.30, for a total transaction of $399,900.00. Following the transaction, the executive vice president now directly owns 51,492 shares in the company, valued at $6,863,883.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Bradbury sold 600 shares of the company’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $135.01, for a total value of $81,006.00. Following the transaction, the director now owns 17,065 shares in the company, valued at $2,303,945.65. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC boosted its stake in shares of Illumina by 2.4% in the second quarter. Checchi Capital Advisers LLC now owns 958 shares of the life sciences company’s stock valued at $134,000 after buying an additional 22 shares during the last quarter. Concert Wealth Management Inc. boosted its stake in shares of Illumina by 2.9% in the third quarter. Concert Wealth Management Inc. now owns 1,732 shares of the life sciences company’s stock valued at $315,000 after buying an additional 48 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Illumina by 2.0% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 3,771 shares of the life sciences company’s stock valued at $685,000 after buying an additional 73 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Illumina by 1.1% in the second quarter. Cullen Frost Bankers Inc. now owns 6,770 shares of the life sciences company’s stock valued at $951,000 after buying an additional 75 shares during the last quarter. Finally, Halsey Associates Inc. CT boosted its stake in shares of Illumina by 0.7% in the second quarter. Halsey Associates Inc. CT now owns 12,510 shares of the life sciences company’s stock valued at $1,756,000 after buying an additional 90 shares during the last quarter. Institutional investors own 92.94% of the company’s stock.

Illumina Company Profile

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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