Zacks Investment Research upgraded shares of Illumina (NASDAQ:ILMN) from a hold rating to a buy rating in a research note published on Monday morning. Zacks Investment Research currently has $270.00 price objective on the life sciences company’s stock.
According to Zacks, “In the last three months, Illumina outperformed its industry. The company’s recent strategic collaborations are expected to expand its product portfolio. This apart an improving margin scenario should also instill confidence on the stock. Currently, Illumina is focusing on product innovation through research and development as well, which is evident from the launch of iSeq 100 Sequencing System recently. Post a promising fourth-quarter show, we expect Illumina to maintain its growth momentum on continued uptake of sequencing consumables, instruments and microarray portfolios. On the flip side, the company is operating in a tough competitive landscape which is a concern. Further, the stock looks a bit overvalued at the moment.”
Several other equities analysts also recently weighed in on ILMN. Morgan Stanley raised their price target on Illumina from $157.00 to $170.00 and gave the company an underweight rating in a report on Wednesday, April 11th. ValuEngine upgraded Illumina from a hold rating to a buy rating in a report on Monday, April 2nd. Evercore ISI assumed coverage on Illumina in a report on Wednesday, January 3rd. They set an outperform rating and a $250.00 price target for the company. Canaccord Genuity restated a buy rating and set a $265.00 price target (up from $255.00) on shares of Illumina in a report on Wednesday, January 31st. Finally, BidaskClub downgraded Illumina from a buy rating to a hold rating in a report on Saturday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $243.03.
Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Tuesday, January 30th. The life sciences company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.22 by $0.22. Illumina had a return on equity of 21.71% and a net margin of 26.56%. The business had revenue of $778.00 million during the quarter, compared to analyst estimates of $752.04 million. During the same quarter last year, the firm posted $0.85 earnings per share. The company’s revenue for the quarter was up 25.7% on a year-over-year basis. sell-side analysts anticipate that Illumina will post 4.6 EPS for the current year.
In related news, EVP Marc Stapley sold 2,000 shares of Illumina stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $216.87, for a total value of $433,740.00. Following the completion of the sale, the executive vice president now directly owns 27,952 shares in the company, valued at approximately $6,061,950.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director A Blaine Bowman sold 3,000 shares of Illumina stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $230.82, for a total value of $692,460.00. Following the completion of the sale, the director now owns 19,868 shares of the company’s stock, valued at $4,585,931.76. The disclosure for this sale can be found here. Insiders sold a total of 18,008 shares of company stock valued at $4,130,075 over the last quarter. 0.54% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Creative Planning grew its stake in shares of Illumina by 9.8% during the 4th quarter. Creative Planning now owns 12,384 shares of the life sciences company’s stock valued at $2,706,000 after purchasing an additional 1,107 shares during the period. Gateway Investment Advisers LLC grew its stake in shares of Illumina by 3.5% during the 4th quarter. Gateway Investment Advisers LLC now owns 95,711 shares of the life sciences company’s stock valued at $20,912,000 after purchasing an additional 3,202 shares during the period. Captrust Financial Advisors bought a new stake in shares of Illumina during the 4th quarter valued at about $165,000. MetLife Investment Advisors LLC bought a new stake in shares of Illumina during the 4th quarter valued at about $9,870,000. Finally, Sigma Planning Corp bought a new stake in shares of Illumina during the 4th quarter valued at about $221,000. Institutional investors and hedge funds own 91.68% of the company’s stock.
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Illumina Company Profile
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 by synthesis technology 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 allow the detection of known genetic markers on a single array.
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