Barclays upgraded shares of Illumina (NASDAQ:ILMN) from an underweight rating to an equal weight rating in a research report sent to investors on Tuesday morning, Price Targets.com reports. Barclays currently has $412.00 price objective on the life sciences company’s stock, down from their previous price objective of $432.72.
A number of other equities analysts also recently commented on the stock. SVB Leerink raised their target price on shares of Illumina from $420.00 to $430.00 and gave the company a market perform rating in a research note on Tuesday. Bank of America upgraded Illumina from an underperform rating to a neutral rating and set a $390.00 price target on the stock in a research note on Friday, January 7th. Morgan Stanley started coverage on Illumina in a report on Thursday, January 6th. They issued an equal weight rating and a $425.00 price target for the company. Zacks Investment Research raised Illumina from a strong sell rating to a hold rating and set a $399.00 price target for the company in a report on Tuesday, January 4th. Finally, Robert W. Baird reduced their price target on Illumina from $493.00 to $437.00 and set a neutral rating for the company in a report on Monday, November 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Illumina has a consensus rating of Hold and a consensus price target of $443.69.
Shares of ILMN stock traded up $1.17 during mid-day trading on Tuesday, reaching $400.68. The company’s stock had a trading volume of 922 shares, compared to its average volume of 1,085,607. The company’s 50 day simple moving average is $378.61 and its 200-day simple moving average is $429.01. Illumina has a 12-month low of $341.03 and a 12-month high of $555.77. The company has a quick ratio of 2.24, a current ratio of 2.68 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $62.63 billion, a PE ratio of 65.60, a price-to-earnings-growth ratio of 3.22 and a beta of 0.90.
Illumina (NASDAQ:ILMN) last issued its earnings results on Thursday, November 4th. The life sciences company reported $1.45 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.21. Illumina had a net margin of 21.17% and a return on equity of 15.03%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm posted $1.02 EPS. The business’s revenue for the quarter was up 39.3% compared to the same quarter last year. As a group, research analysts anticipate that Illumina will post 5.66 EPS for the current fiscal year.
In related news, SVP Susan H. Tousi sold 800 shares of the firm’s stock in a transaction that occurred on Wednesday, January 12th. The stock was sold at an average price of $425.00, for a total value of $340,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Alexander Aravanis sold 2,926 shares of the firm’s stock in a transaction that occurred on Tuesday, October 26th. The shares were sold at an average price of $423.00, for a total value of $1,237,698.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,189 shares of company stock worth $5,024,576. 0.23% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Stratos Wealth Advisors LLC boosted its stake in shares of Illumina by 31.3% during the 4th quarter. Stratos Wealth Advisors LLC now owns 2,214 shares of the life sciences company’s stock worth $842,000 after acquiring an additional 528 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Illumina by 77.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 20,676 shares of the life sciences company’s stock worth $7,866,000 after acquiring an additional 9,037 shares in the last quarter. First Hawaiian Bank boosted its stake in shares of Illumina by 32.8% during the 4th quarter. First Hawaiian Bank now owns 1,889 shares of the life sciences company’s stock worth $719,000 after acquiring an additional 467 shares in the last quarter. Mountain Capital Investment Advisors Inc boosted its stake in shares of Illumina by 18.3% during the 4th quarter. Mountain Capital Investment Advisors Inc now owns 2,462 shares of the life sciences company’s stock worth $1,043,000 after acquiring an additional 381 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Illumina by 9.9% during the 4th quarter. State of Alaska Department of Revenue now owns 24,739 shares of the life sciences company’s stock worth $9,410,000 after acquiring an additional 2,220 shares in the last quarter. Institutional investors own 84.89% of the company’s stock.
Illumina Company Profile
Illumina, Inc engages in the development, manufacturing, and marketing of life science tools and integrated systems for large-scale analysis of genetic variation and function. It operates through Core Illumina segment, which serves customers in the research, clinical and applied markets, and enable the adoption of a variety of genomic solutions.
Featured Article: What is the outlook for the FAANG stocks?