Illumina (ILMN) Rating Lowered to Hold at BidaskClub

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BidaskClub cut shares of Illumina (NASDAQ:ILMN) from a buy rating to a hold rating in a report released on Tuesday, BidAskClub reports.

Other research analysts have also recently issued reports about the company. Canaccord Genuity reiterated a buy rating and issued a $350.00 price objective (down from $360.00) on shares of Illumina in a report on Friday, April 26th. Zacks Investment Research upgraded Illumina from a hold rating to a buy rating and set a $355.00 price objective on the stock in a report on Tuesday, April 2nd. Bank of America restated a buy rating and set a $355.00 price target on shares of Illumina in a research note on Wednesday, January 30th. UBS Group upgraded Illumina from a neutral rating to a buy rating and upped their price target for the stock from $340.00 to $370.00 in a research note on Thursday, January 3rd. Finally, Morgan Stanley decreased their price target on Illumina from $320.00 to $288.00 and set an equal weight rating on the stock in a research note on Monday, January 7th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $353.58.

ILMN traded up $10.53 during trading hours on Tuesday, reaching $323.22. The company’s stock had a trading volume of 41,358 shares, compared to its average volume of 987,802. Illumina has a fifty-two week low of $235.74 and a fifty-two week high of $372.61. The stock has a market capitalization of $46.47 billion, a PE ratio of 56.67, a P/E/G ratio of 2.17 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.33 and a current ratio of 3.66.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Thursday, April 25th. The life sciences company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.26. Illumina had a return on equity of 23.49% and a net margin of 25.06%. The firm had revenue of $846.00 million for the quarter, compared to analysts’ expectations of $838.70 million. During the same period in the prior year, the firm posted $1.45 earnings per share. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts forecast that Illumina will post 6.68 earnings per share for the current fiscal year.

In other news, Director Jay T. Flatley sold 3,300 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $321.96, for a total value of $1,062,468.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Francis A. Desouza sold 3,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $316.51, for a total value of $949,530.00. Following the completion of the sale, the insider now owns 79,346 shares in the company, valued at $25,113,802.46. The disclosure for this sale can be found here. Insiders have sold 30,702 shares of company stock worth $9,501,685 over the last 90 days. 0.38% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in ILMN. Standard Life Aberdeen plc raised its stake in shares of Illumina by 13.6% in the third quarter. Standard Life Aberdeen plc now owns 39,255 shares of the life sciences company’s stock valued at $14,408,000 after acquiring an additional 4,709 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in Illumina by 1.5% in the third quarter. Neuberger Berman Group LLC now owns 39,650 shares of the life sciences company’s stock valued at $14,554,000 after buying an additional 595 shares during the last quarter. Nordea Investment Management AB increased its holdings in Illumina by 9.8% in the third quarter. Nordea Investment Management AB now owns 8,039 shares of the life sciences company’s stock valued at $2,951,000 after buying an additional 718 shares during the last quarter. Financial Enhancement Group LLC purchased a new position in Illumina in the third quarter valued at $400,000. Finally, Kepos Capital LP increased its holdings in Illumina by 394.5% in the third quarter. Kepos Capital LP now owns 12,037 shares of the life sciences company’s stock valued at $4,418,000 after buying an additional 9,603 shares during the last quarter. Institutional investors and hedge funds own 90.56% 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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Analyst Recommendations for Illumina (NASDAQ:ILMN)

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