Illumina, Inc. (NASDAQ:ILMN) Receives $332.77 Consensus Price Target from Analysts

Illumina, Inc. (NASDAQ:ILMN) has received an average rating of “Buy” from the sixteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $330.92.

ILMN has been the subject of several recent analyst reports. Canaccord Genuity cut shares of Illumina from a “buy” rating to a “hold” rating and lowered their target price for the stock from $330.00 to $300.00 in a research note on Tuesday, July 30th. Bank of America cut shares of Illumina from a “buy” rating to an “underperform” rating and set a $310.00 target price for the company. in a research note on Friday, July 12th. Credit Suisse Group reaffirmed a “buy” rating and issued a $340.00 target price on shares of Illumina in a research note on Wednesday, July 31st. Cowen lowered their target price on shares of Illumina from $380.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, July 12th. Finally, UBS Group lifted their target price on shares of Illumina from $350.00 to $355.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th.

In other news, SVP Charles Dadswell sold 124 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $371.29, for a total transaction of $46,039.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frances Arnold sold 1,503 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $307.95, for a total transaction of $462,848.85. Following the sale, the director now directly owns 10,159 shares of the company’s stock, valued at $3,128,464.05. The disclosure for this sale can be found here. Insiders have sold a total of 61,167 shares of company stock valued at $19,899,477 over the last three months. Corporate insiders own 0.38% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in ILMN. Next Capital Management LLC purchased a new stake in shares of Illumina during the 2nd quarter valued at $25,000. Massmutual Trust Co. FSB ADV boosted its position in Illumina by 83.0% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 86 shares of the life sciences company’s stock worth $26,000 after purchasing an additional 39 shares during the period. Strategy Asset Managers LLC purchased a new stake in Illumina during the 1st quarter worth $26,000. Financial Advocates Investment Management boosted its position in Illumina by 1,430.0% during the 4th quarter. Financial Advocates Investment Management now owns 612 shares of the life sciences company’s stock worth $28,000 after purchasing an additional 572 shares during the period. Finally, C J Advisory Inc purchased a new stake in Illumina during the 1st quarter worth $29,000. 90.75% of the stock is owned by institutional investors.

Shares of Illumina stock traded down $5.07 during trading on Wednesday, hitting $292.31. 13,279 shares of the company were exchanged, compared to its average volume of 1,782,099. The company has a debt-to-equity ratio of 0.42, a current ratio of 6.79 and a quick ratio of 3.33. Illumina has a fifty-two week low of $268.62 and a fifty-two week high of $380.76. The stock has a market cap of $43.18 billion, a PE ratio of 51.01, a price-to-earnings-growth ratio of 2.77 and a beta of 1.11. The stock has a 50 day moving average of $335.61.

Illumina (NASDAQ:ILMN) last released its earnings results on Monday, July 29th. The life sciences company reported $1.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.03. The firm had revenue of $838.00 million during the quarter, compared to analysts’ expectations of $835.12 million. Illumina had a net margin of 27.56% and a return on equity of 21.73%. Illumina’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.43 EPS. As a group, research analysts forecast that Illumina will post 6.04 EPS for the current year.

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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