Illumina, Inc. (ILMN) Rating Increased to Buy at Vetr Inc.

Vetr upgraded shares of Illumina, Inc. (NASDAQ:ILMN) from a hold rating to a buy rating in a research note released on Tuesday morning. The firm currently has $217.50 price objective on the life sciences company’s stock.

A number of other research analysts have also issued reports on the company. Leerink Swann restated an outperform rating and set a $225.00 price objective (up previously from $207.00) on shares of Illumina in a research report on Tuesday, September 12th. BidaskClub upgraded Illumina from a sell rating to a hold rating in a research report on Saturday, June 24th. Morgan Stanley restated an underweight rating and set a $122.00 price objective (up previously from $115.00) on shares of Illumina in a research report on Monday, July 10th. Canaccord Genuity restated a hold rating and set a $170.00 price objective on shares of Illumina in a research report on Wednesday, July 26th. Finally, J P Morgan Chase & Co restated an overweight rating and set a $250.00 price objective on shares of Illumina in a research report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company’s stock. Illumina has a consensus rating of Hold and a consensus target price of $182.15.

Shares of Illumina (NASDAQ ILMN) opened at 201.41 on Tuesday. Illumina has a 1-year low of $119.37 and a 1-year high of $214.34. The stock’s 50 day moving average price is $199.76 and its 200 day moving average price is $181.17. The stock has a market cap of $29.41 billion, a PE ratio of 40.41 and a beta of 0.81.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Tuesday, August 1st. The life sciences company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.14. Illumina had a return on equity of 19.69% and a net margin of 30.27%. The business had revenue of $662.00 million during the quarter, compared to analyst estimates of $642.38 million. During the same quarter in the previous year, the firm posted $0.86 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities research analysts anticipate that Illumina will post $3.65 EPS for the current fiscal year.

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In other news, Director Jay T. Flatley sold 22,540 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $195.21, for a total transaction of $4,400,033.40. Following the sale, the director now directly owns 539,176 shares of the company’s stock, valued at $105,252,546.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay T. Flatley sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $211.11, for a total value of $4,222,200.00. Following the sale, the director now directly owns 539,176 shares in the company, valued at $113,825,445.36. The disclosure for this sale can be found here. Insiders sold a total of 175,188 shares of company stock worth $33,870,937 in the last three months. Company insiders own 1.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Illumina by 2.6% during the second quarter. Vanguard Group Inc. now owns 9,904,340 shares of the life sciences company’s stock worth $1,718,601,000 after purchasing an additional 255,498 shares during the period. Capital World Investors raised its position in shares of Illumina by 23.8% during the second quarter. Capital World Investors now owns 2,135,000 shares of the life sciences company’s stock worth $370,465,000 after purchasing an additional 410,000 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Illumina by 55.6% during the second quarter. TIAA CREF Investment Management LLC now owns 1,475,669 shares of the life sciences company’s stock worth $256,058,000 after purchasing an additional 527,548 shares during the period. Geode Capital Management LLC raised its position in shares of Illumina by 8.0% during the first quarter. Geode Capital Management LLC now owns 1,458,071 shares of the life sciences company’s stock worth $248,460,000 after purchasing an additional 107,941 shares during the period. Finally, Winslow Capital Management LLC acquired a new stake in shares of Illumina during the second quarter worth $211,584,000. 93.32% of the stock is currently owned by institutional investors.

About Illumina

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.

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

Analyst Recommendations for Illumina (NASDAQ:ILMN)

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