Illumina, Inc. (NASDAQ:ILMN) Downgraded by BidaskClub to Strong Sell
BidaskClub downgraded shares of Illumina, Inc. (NASDAQ:ILMN) from a sell rating to a strong sell rating in a research report report published on Tuesday morning.
ILMN has been the topic of several other research reports. Piper Jaffray Companies reissued an overweight rating and set a $187.00 price target (up previously from $170.00) on shares of Illumina in a research note on Friday, April 14th. Vetr lowered Illumina from a strong-buy rating to a buy rating and set a $197.84 price target on the stock. in a research note on Wednesday, June 21st. Barclays PLC reissued a hold rating and set a $150.00 price target on shares of Illumina in a research note on Wednesday, July 19th. TheStreet raised Illumina from a c+ rating to a b rating in a research note on Thursday, April 6th. Finally, Cowen and Company reissued an outperform rating and set a $200.00 price target on shares of Illumina in a research note on Wednesday, April 26th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Illumina presently has a consensus rating of Hold and an average price target of $167.02.
Shares of Illumina (NASDAQ ILMN) traded up 0.34% during trading on Tuesday, hitting $174.92. The company’s stock had a trading volume of 626,882 shares. The stock has a market cap of $25.54 billion, a PE ratio of 35.40 and a beta of 0.84. Illumina has a one year low of $119.37 and a one year high of $189.48. The company has a 50-day moving average price of $174.65 and a 200-day moving average price of $171.62.
Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Tuesday, April 25th. The life sciences company reported $0.64 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.64. Illumina had a return on equity of 21.21% and a net margin of 30.75%. The company had revenue of $598 million for the quarter, compared to analyst estimates of $590.51 million. During the same quarter in the previous year, the company earned $0.71 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts predict that Illumina will post $3.63 EPS for the current fiscal year.
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In other Illumina news, Director Jay T. Flatley sold 20,000 shares of the business’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $184.14, for a total value of $3,682,800.00. Following the completion of the transaction, the director now directly owns 539,176 shares in the company, valued at approximately $99,283,868.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Charles Dadswell sold 1,609 shares of the business’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $187.07, for a total value of $300,995.63. Following the completion of the transaction, the senior vice president now owns 10,936 shares of the company’s stock, valued at $2,045,797.52. The disclosure for this sale can be found here. Insiders sold a total of 125,248 shares of company stock valued at $22,281,673 over the last quarter. 1.60% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Essex Investment Management Co. LLC increased its position in shares of Illumina by 5.4% in the second quarter. Essex Investment Management Co. LLC now owns 11,641 shares of the life sciences company’s stock valued at $2,020,000 after buying an additional 595 shares during the period. Daiwa Securities Group Inc. increased its stake in Illumina by 3.9% in the second quarter. Daiwa Securities Group Inc. now owns 4,260 shares of the life sciences company’s stock worth $739,000 after buying an additional 160 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in Illumina by 20.7% in the second quarter. State of New Jersey Common Pension Fund D now owns 175,000 shares of the life sciences company’s stock worth $30,366,000 after buying an additional 30,000 shares during the last quarter. Lyell Wealth Management LP increased its stake in Illumina by 13.9% in the second quarter. Lyell Wealth Management LP now owns 7,354 shares of the life sciences company’s stock worth $1,276,000 after buying an additional 895 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in Illumina by 3.5% in the second quarter. CIBC Asset Management Inc now owns 19,316 shares of the life sciences company’s stock worth $3,352,000 after buying an additional 658 shares during the last quarter. Institutional investors own 93.75% of the company’s stock.
Illumina Company Profile
Illumina, Inc (Illumina) is a provider of sequencing- and array-based solutions for genetic analysis. The Company operates through two segments: Core Illumina and the consolidated variable interest entities (VIEs), which include the activities of GRAIL, Inc (GRAIL) and Helix Holdings I, LLC (Helix). Core Illumina consists of its core operations.
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