Illumina (NASDAQ:ILMN) Price Target Raised to $130.00

Illumina (NASDAQ:ILMN) had its price target increased by JPMorgan Chase & Co. from $105.00 to $130.00 in a research note released on Monday,Benzinga reports. They currently have a neutral rating on the life sciences company’s stock.

Several other research analysts have also recently weighed in on the company. UBS Group boosted their price target on Illumina from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Royal Bank Of Canada set a $124.00 price objective on Illumina in a report on Tuesday, September 2nd. Weiss Ratings restated a “hold (c-)” rating on shares of Illumina in a research note on Wednesday, December 10th. Robert W. Baird set a $109.00 price target on shares of Illumina in a report on Friday, October 31st. Finally, Zacks Research raised shares of Illumina from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Illumina presently has a consensus rating of “Hold” and a consensus price target of $117.19.

Illumina Stock Down 1.5%

Shares of Illumina stock opened at $129.56 on Monday. The company has a 50-day simple moving average of $116.72 and a two-hundred day simple moving average of $103.77. The stock has a market capitalization of $19.80 billion, a PE ratio of 29.05, a price-to-earnings-growth ratio of 2.35 and a beta of 1.44. Illumina has a 52-week low of $68.70 and a 52-week high of $153.06. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.12 and a current ratio of 1.43.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Thursday, October 30th. The life sciences company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.18. Illumina had a net margin of 16.40% and a return on equity of 29.21%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The firm’s quarterly revenue was up .4% compared to the same quarter last year. Illumina has set its FY 2025 guidance at 4.650-4.750 EPS. On average, analysts anticipate that Illumina will post 4.51 EPS for the current fiscal year.

Insider Activity

In other news, insider Scott M. Davies sold 323 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $136.09, for a total value of $43,957.07. Following the transaction, the insider owned 17,887 shares in the company, valued at $2,434,241.83. This represents a 1.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Scott Gottlieb acquired 500 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average cost of $122.13 per share, for a total transaction of $61,065.00. Following the acquisition, the director owned 12,523 shares of the company’s stock, valued at $1,529,433.99. The trade was a 4.16% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Illumina

Hedge funds and other institutional investors have recently modified their holdings of the stock. Next Capital Management LLC purchased a new position in Illumina during the second quarter valued at approximately $341,000. CWM LLC raised its position in shares of Illumina by 112.9% during the 2nd quarter. CWM LLC now owns 76,711 shares of the life sciences company’s stock valued at $7,319,000 after purchasing an additional 40,676 shares during the period. Andra AP fonden lifted its stake in shares of Illumina by 426.3% during the 2nd quarter. Andra AP fonden now owns 102,491 shares of the life sciences company’s stock valued at $9,779,000 after buying an additional 83,017 shares in the last quarter. Bourgeon Capital Management LLC boosted its holdings in Illumina by 76.4% in the 2nd quarter. Bourgeon Capital Management LLC now owns 141,896 shares of the life sciences company’s stock worth $13,538,000 after buying an additional 61,468 shares during the period. Finally, GC Wealth Management RIA LLC purchased a new stake in Illumina in the 2nd quarter worth $2,289,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

About Illumina

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.