Illumina (NASDAQ:ILMN) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, ValuEngine reports.

Several other research analysts have also commented on the stock. BidaskClub lowered shares of Illumina from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. UBS Group boosted their price objective on shares of Illumina from $350.00 to $355.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Wolfe Research initiated coverage on shares of Illumina in a research note on Thursday, May 30th. They set an “outperform” rating for the company. Deutsche Bank cut their price target on shares of Illumina from $290.00 to $280.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Finally, Cowen cut their price target on shares of Illumina from $380.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, July 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. Illumina has a consensus rating of “Buy” and a consensus price target of $330.92.

Shares of NASDAQ ILMN traded up $7.86 during trading hours on Thursday, hitting $297.52. 1,961,400 shares of the stock were exchanged, compared to its average volume of 1,051,925. The company has a quick ratio of 6.10, a current ratio of 6.79 and a debt-to-equity ratio of 0.42. The company has a market cap of $42.58 billion, a PE ratio of 52.01, a PEG ratio of 2.49 and a beta of 1.09. The firm has a fifty day moving average price of $287.49 and a 200-day moving average price of $313.82. Illumina has a 12 month low of $263.30 and a 12 month high of $380.76.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Monday, July 29th. The life sciences company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.32 by $0.03. The firm had revenue of $838.00 million during the quarter, compared to analyst estimates of $835.12 million. Illumina had a net margin of 27.56% and a return on equity of 21.73%. Illumina’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.43 EPS. As a group, equities analysts anticipate that Illumina will post 6.04 earnings per share for the current fiscal year.

In other Illumina news, SVP Mostafa Ronaghi sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $349.28, for a total transaction of $3,492,800.00. Following the transaction, the senior vice president now owns 65,994 shares in the company, valued at approximately $23,050,384.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Charles Dadswell sold 1,220 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $279.88, for a total transaction of $341,453.60. Following the transaction, the senior vice president now owns 5,386 shares in the company, valued at approximately $1,507,433.68. The disclosure for this sale can be found here. Insiders have sold a total of 56,198 shares of company stock worth $17,773,470 in the last 90 days. 0.38% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of ILMN. Nuveen Asset Management LLC increased its stake in Illumina by 67,829.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,260,705 shares of the life sciences company’s stock valued at $832,279,000 after purchasing an additional 2,257,377 shares in the last quarter. Thoroughbred Financial Services LLC boosted its holdings in shares of Illumina by 38,516.8% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 875,828 shares of the life sciences company’s stock valued at $87,583,000 after acquiring an additional 873,560 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Illumina by 5.0% in the 2nd quarter. Baillie Gifford & Co. now owns 16,775,175 shares of the life sciences company’s stock valued at $6,175,781,000 after acquiring an additional 799,884 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Illumina by 107.1% in the 1st quarter. American Century Companies Inc. now owns 815,875 shares of the life sciences company’s stock valued at $253,484,000 after acquiring an additional 421,953 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Illumina by 5.2% in the 2nd quarter. Jennison Associates LLC now owns 5,976,219 shares of the life sciences company’s stock valued at $2,200,145,000 after acquiring an additional 296,541 shares during the last quarter. Institutional investors and hedge funds own 90.92% of the company’s stock.

About Illumina

Illumina, Inc provides sequencing and array-based solutions for genetic analysis. The company operates in two segments, Core Illumina and Consolidated VIEs. It offers sequencing that provides researchers with various applications and the ability to sequence mammalian genomes; and arrays for a range of deoxyribonucleic acid and RNA analysis applications, including single nucleotide polymorphism genotyping, copy number variations analysis, gene expression analysis, and methylation analysis, as well as enables the detection of known genetic markers on a single array.

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