Illumina’s (ILMN) Overweight Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Illumina (NASDAQ:ILMN) in a research report sent to investors on Monday morning,Benzinga reports. Piper Sandler currently has a $225.00 price target on the life sciences company’s stock, up from their previous price target of $200.00.

Several other research firms have also commented on ILMN. Guggenheim lifted their price target on shares of Illumina from $200.00 to $226.00 and gave the company a “buy” rating in a report on Friday, July 31st. Evercore reiterated an “outperform” rating on shares of Illumina in a research note on Monday, July 6th. Stifel Nicolaus lifted their target price on Illumina from $155.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. upped their target price on Illumina from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Finally, TD Cowen raised their price target on Illumina from $192.00 to $210.00 and gave the stock a “hold” rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Illumina currently has an average rating of “Hold” and an average target price of $188.40.

Illumina Stock Performance

ILMN stock opened at $199.87 on Monday. The company has a current ratio of 1.80, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The firm has a market cap of $30.18 billion, a P/E ratio of 37.29, a P/E/G ratio of 2.86 and a beta of 1.45. Illumina has a 12-month low of $88.00 and a 12-month high of $207.00. The stock’s 50 day simple moving average is $179.92 and its 200 day simple moving average is $148.41.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Thursday, July 30th. The life sciences company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.08. Illumina had a return on equity of 29.84% and a net margin of 18.36%.The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the business posted $1.19 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. As a group, equities research analysts predict that Illumina will post 5.36 EPS for the current year.

Insider Activity

In other news, Director Keith A. Meister sold 235,000 shares of Illumina stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $163.63, for a total transaction of $38,453,050.00. Following the sale, the director owned 2,830,452 shares of the company’s stock, valued at approximately $463,146,860.76. The trade was a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Scott M. Davies sold 615 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $200.00, for a total value of $123,000.00. Following the completion of the sale, the insider owned 20,338 shares in the company, valued at approximately $4,067,600. This represents a 2.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,003,684 shares of company stock worth $155,736,580 over the last ninety days. 2.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ILMN. Next Capital Management LLC acquired a new stake in Illumina in the second quarter worth approximately $573,000. Oppenheimer Asset Management Inc. bought a new position in Illumina during the second quarter valued at about $1,670,000. Insight Wealth Strategies LLC acquired a new position in Illumina during the second quarter worth about $6,062,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in Illumina in the second quarter worth about $223,000. Finally, FNY Investment Advisers LLC raised its position in Illumina by 30.0% in the second quarter. FNY Investment Advisers LLC now owns 650 shares of the life sciences company’s stock worth $114,000 after acquiring an additional 150 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors.

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.