ValuEngine Downgrades Illumina (ILMN) to Buy

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Illumina (NASDAQ:ILMN) was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday.

Several other equities research analysts have also recently weighed in on ILMN. Cowen increased their price objective on shares of Illumina from $275.00 to $315.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 10th. Citigroup increased their price objective on shares of Illumina from $275.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, June 25th. Canaccord Genuity reiterated a “buy” rating and set a $340.00 price objective (up from $330.00) on shares of Illumina in a research report on Friday, July 27th. Piper Jaffray Companies reiterated an “overweight” rating and set a $350.00 price objective on shares of Illumina in a research report on Tuesday, July 31st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Illumina to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 31st. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $324.76.

ILMN stock opened at $321.69 on Thursday. The firm has a market cap of $53.96 billion, a PE ratio of 80.42, a price-to-earnings-growth ratio of 3.04 and a beta of 0.97. Illumina has a 52-week low of $198.21 and a 52-week high of $372.61. The company has a quick ratio of 2.44, a current ratio of 2.74 and a debt-to-equity ratio of 0.22.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Monday, July 30th. The life sciences company reported $1.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.32. The firm had revenue of $830.00 million during the quarter, compared to the consensus estimate of $786.88 million. Illumina had a net margin of 20.88% and a return on equity of 26.64%. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 earnings per share. On average, research analysts predict that Illumina will post 5.46 EPS for the current year.

In other Illumina news, Director Robert S. Epstein sold 500 shares of the firm’s stock in a transaction on Monday, July 23rd. The shares were sold at an average price of $311.15, for a total value of $155,575.00. Following the completion of the sale, the director now directly owns 6,139 shares in the company, valued at $1,910,149.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Francis A. Desouza sold 2,100 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $369.61, for a total transaction of $776,181.00. The disclosure for this sale can be found here. Insiders sold 52,483 shares of company stock valued at $17,702,063 over the last 90 days. Corporate insiders own 0.54% of the company’s stock.

A number of large investors have recently bought and sold shares of ILMN. Kaizen Advisory LLC grew its holdings in Illumina by 161.0% in the second quarter. Kaizen Advisory LLC now owns 368 shares of the life sciences company’s stock worth $103,000 after purchasing an additional 227 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in Illumina by 2,670.0% in the second quarter. Moneta Group Investment Advisors LLC now owns 9,695 shares of the life sciences company’s stock worth $107,000 after purchasing an additional 9,345 shares during the period. Sun Life Financial INC grew its holdings in Illumina by 152.5% in the second quarter. Sun Life Financial INC now owns 399 shares of the life sciences company’s stock worth $111,000 after purchasing an additional 241 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Illumina by 3,192.3% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 428 shares of the life sciences company’s stock worth $120,000 after purchasing an additional 415 shares during the period. Finally, Hall Laurie J Trustee grew its holdings in Illumina by 189.5% in the second quarter. Hall Laurie J Trustee now owns 550 shares of the life sciences company’s stock worth $154,000 after purchasing an additional 360 shares during the period. Institutional investors and hedge funds own 89.84% 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 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.

See Also: Intrinsic Value

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Illumina (NASDAQ:ILMN)

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