Illumina, Inc. (NASDAQ:ILMN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, October 31st.
According to Zacks, “Illumina’s third-quarter 2017 performance was quite promising with the company delivering better-than-expected revenues and earnings figures. The top line was supported by solid uptake of sequencing consumables and instruments as well as microarray portfolios. Management is also hopeful that recent launches like NovaSeq S4 flow cell and reagent kit for its NovaSeq 6000 System will drive demand for NovaSeq. We look forward to the launch of NovaSeq Xp workflow. Also, the company’s launch of Nextera DNA Flex buoys optimism. Moreover, the company recently partnered with Telegraph Hill Partners to set up an independent entity. Accordingly, over the last three months, Illumina has been trading above the broader industry. On the flip side, weak margins owing to the NovaSeq launch, higher array services revenues and unfavorable product mix within sequencing consumables will continue to act as deterrents.”
A number of other research firms have also issued reports on ILMN. Deutsche Bank AG set a $175.00 target price on shares of Illumina and gave the company a “hold” rating in a research note on Friday, July 28th. Citigroup Inc. boosted their price target on shares of Illumina from $180.00 to $220.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Canaccord Genuity upgraded shares of Illumina from a “hold” rating to a “buy” rating and boosted their price target for the stock from $170.00 to $215.00 in a research report on Monday, August 7th. Robert W. Baird upgraded shares of Illumina from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $184.00 to $228.00 in a research report on Wednesday, October 25th. Finally, Barclays PLC boosted their target price on shares of Illumina from $150.00 to $185.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $200.88.
Illumina (NASDAQ:ILMN) traded up $0.51 during trading on Tuesday, reaching $209.02. 545,558 shares of the company traded hands, compared to its average volume of 804,361. Illumina has a 12-month low of $119.37 and a 12-month high of $214.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.22 and a quick ratio of 3.73. The stock has a market cap of $30,516.92, a P/E ratio of 61.12, a price-to-earnings-growth ratio of 3.45 and a beta of 0.74.
Illumina (NASDAQ:ILMN) last posted its earnings results on Tuesday, October 24th. The life sciences company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.12. The firm had revenue of $714.00 million during the quarter, compared to analyst estimates of $692.77 million. Illumina had a net margin of 30.34% and a return on equity of 19.42%. Illumina’s revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.97 EPS. sell-side analysts predict that Illumina will post 3.75 earnings per share for the current year.
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In related news, Director Jay T. Flatley sold 22,540 shares of the firm’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $195.21, for a total value of $4,400,033.40. Following the completion of the transaction, the director now directly owns 539,176 shares of the company’s stock, valued at $105,252,546.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jay T. Flatley sold 2,540 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $197.39, for a total transaction of $501,370.60. Following the completion of the transaction, the director now directly owns 539,176 shares of the company’s stock, valued at $106,427,950.64. The disclosure for this sale can be found here. Insiders have sold a total of 172,446 shares of company stock worth $35,486,114 over the last 90 days. Corporate insiders own 0.89% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ILMN. Advisory Services Network LLC grew its holdings in shares of Illumina by 13.0% during the second quarter. Advisory Services Network LLC now owns 772 shares of the life sciences company’s stock worth $134,000 after purchasing an additional 89 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Illumina by 13.0% during the 2nd quarter. Penserra Capital Management LLC now owns 884 shares of the life sciences company’s stock worth $153,000 after buying an additional 102 shares in the last quarter. Dupont Capital Management Corp bought a new position in shares of Illumina during the 3rd quarter worth approximately $153,000. Paradigm Asset Management Co. LLC boosted its holdings in shares of Illumina by 5.6% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 950 shares of the life sciences company’s stock worth $165,000 after buying an additional 50 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. raised its position in Illumina by 11.3% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 985 shares of the life sciences company’s stock valued at $171,000 after buying an additional 100 shares during the last quarter. 90.76% of the stock is owned by hedge funds and other institutional investors.
Illumina, Inc (Illumina) is a provider of sequencing- and array-based solutions for genetic analysis. The Company operates through two segments: Core Illumina and the consolidated variable interest entities (VIEs), which include the activities of GRAIL, Inc (GRAIL) and Helix Holdings I, LLC (Helix). Core Illumina consists of its core operations.
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