Illumina (NASDAQ:ILMN) Rating Lowered to Hold at Zacks Research

Illumina (NASDAQ:ILMN) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday, Zacks reports.

Other equities analysts also recently issued reports about the stock. Citigroup increased their price objective on shares of Illumina from $95.00 to $113.00 and gave the company a “sell” rating in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft lowered Illumina to a “hold” rating in a research note on Wednesday, August 5th. TD Cowen increased their price target on shares of Illumina from $192.00 to $210.00 and gave the company a “hold” rating in a research note on Friday, July 31st. Wall Street Zen raised Illumina from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Illumina from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $188.40.

Illumina Stock Up 3.0%

Shares of ILMN stock opened at $213.25 on Tuesday. The company has a current ratio of 1.80, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The stock has a market cap of $32.20 billion, a P/E ratio of 39.79, a P/E/G ratio of 2.93 and a beta of 1.46. The stock has a 50 day moving average of $196.70 and a 200 day moving average of $157.87. Illumina has a twelve month low of $88.00 and a twelve month high of $231.81.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, July 30th. The life sciences company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.08. Illumina had a net margin of 18.36% and a return on equity of 29.84%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the business posted $1.19 EPS. The business’s revenue was up 9.4% compared to the same quarter last year. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. As a group, sell-side analysts expect that Illumina will post 5.36 EPS for the current year.

Insiders Place Their Bets

In other news, insider Scott M. Davies sold 615 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $200.00, for a total value of $123,000.00. Following the completion of the transaction, the insider owned 20,338 shares of the company’s stock, valued at approximately $4,067,600. This trade represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christensen Jakob Wedel sold 1,033 shares of Illumina stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $191.52, for a total transaction of $197,840.16. Following the completion of the transaction, the senior vice president owned 14,023 shares of the company’s stock, valued at $2,685,684.96. This trade represents a 6.86% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,799,688 shares of company stock worth $379,517,231 over the last three months. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Illumina

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ILMN. California State Teachers Retirement System increased its position in shares of Illumina by 16,869.5% during the second quarter. California State Teachers Retirement System now owns 40,144,099 shares of the life sciences company’s stock worth $7,058,537,000 after acquiring an additional 39,907,533 shares during the period. BlackRock Inc. purchased a new position in Illumina in the second quarter valued at $3,374,423,000. Primecap Management Co. CA purchased a new position in Illumina in the second quarter valued at $617,981,000. Jupiter Topco LLC acquired a new position in Illumina during the 2nd quarter worth $358,652,000. Finally, WCM Investment Management LLC grew its stake in Illumina by 45.5% during the 1st quarter. WCM Investment Management LLC now owns 5,923,173 shares of the life sciences company’s stock worth $715,579,000 after purchasing an additional 1,851,848 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Illumina Company Profile

Illumina, Inc (NASDAQ: ILMN) is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company’s product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.