Illumina (ILMN) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Illumina (NASDAQ:ILMN) from a hold rating to a buy rating in a research report report published on Tuesday. They currently have $252.00 price target on the life sciences company’s stock.

According to Zacks, “Post a promising third-quarter show, we expect Illumina to maintain its growth momentum on continued uptake of sequencing consumables, instruments and 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.”

Several other research firms also recently weighed in on ILMN. Citigroup lifted their target price on Illumina from $180.00 to $220.00 and gave the company a neutral rating in a research report on Wednesday, October 25th. Canaccord Genuity raised Illumina from a hold rating to a buy rating and lifted their target price for the company from $170.00 to $215.00 in a research report on Monday, August 7th. Robert W. Baird raised Illumina from a neutral rating to an outperform rating and lifted their target price for the company from $184.00 to $228.00 in a research report on Wednesday, October 25th. Barclays lifted their target price on Illumina from $150.00 to $185.00 and gave the company an equal weight rating in a research report on Wednesday, October 25th. Finally, BidaskClub raised Illumina from a sell rating to a hold rating in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $201.98.

Illumina (NASDAQ:ILMN) traded down $2.39 during midday trading on Tuesday, reaching $211.06. The company’s stock had a trading volume of 1,050,000 shares, compared to its average volume of 958,333. The firm has a market cap of $30,920.00, a P/E ratio of 62.41, a P/E/G ratio of 3.53 and a beta of 0.79. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.73 and a current ratio of 4.22. Illumina has a 52 week low of $119.37 and a 52 week high of $230.72.

Illumina (NASDAQ:ILMN) last released its earnings results on Tuesday, October 24th. The life sciences company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.12. The company had revenue of $714.00 million during the quarter, compared to the consensus estimate of $692.77 million. Illumina had a return on equity of 19.42% and a net margin of 30.34%. Illumina’s revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.97 EPS. sell-side analysts anticipate that Illumina will post 3.75 EPS for the current fiscal year.

In other Illumina news, Director Robert S. Epstein sold 1,250 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $226.55, for a total value of $283,187.50. Following the completion of the sale, the director now owns 9,088 shares in the company, valued at $2,058,886.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Mostafa Ronaghi sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $210.00, for a total value of $4,200,000.00. Following the completion of the sale, the senior vice president now owns 86,725 shares of the company’s stock, valued at approximately $18,212,250. The disclosure for this sale can be found here. Insiders sold 164,005 shares of company stock valued at $34,243,898 over the last ninety days. 0.89% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Flagship Harbor Advisors LLC lifted its stake in Illumina by 1.7% in the second quarter. Flagship Harbor Advisors LLC now owns 2,046 shares of the life sciences company’s stock valued at $345,000 after buying an additional 35 shares during the last quarter. Nordea Investment Management AB lifted its stake in Illumina by 0.6% in the second quarter. Nordea Investment Management AB now owns 6,798 shares of the life sciences company’s stock valued at $1,180,000 after buying an additional 42 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its stake in Illumina by 1.4% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 3,126 shares of the life sciences company’s stock valued at $528,000 after buying an additional 43 shares during the last quarter. Paradigm Asset Management Co. LLC lifted its stake in Illumina by 5.6% in the second quarter. Paradigm Asset Management Co. LLC now owns 950 shares of the life sciences company’s stock valued at $165,000 after buying an additional 50 shares during the last quarter. Finally, Pitcairn Co. lifted its stake in Illumina by 1.5% in the second quarter. Pitcairn Co. now owns 3,644 shares of the life sciences company’s stock valued at $632,000 after buying an additional 53 shares during the last quarter. Institutional investors own 91.75% of the company’s stock.

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Illumina Company Profile

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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