Piper Jaffray Companies Reiterates “Buy” Rating for Illumina (ILMN)

Piper Jaffray Companies reaffirmed their buy rating on shares of Illumina (NASDAQ:ILMN) in a report issued on Tuesday morning. Piper Jaffray Companies currently has a $269.00 target price on the life sciences company’s stock.

A number of other research firms have also commented on ILMN. Citigroup raised their price target on Illumina from $180.00 to $220.00 and gave the stock a neutral rating in a report on Wednesday, October 25th. Robert W. Baird upgraded Illumina from a neutral rating to an outperform rating and increased their price objective for the stock from $184.00 to $228.00 in a research report on Wednesday, October 25th. Zacks Investment Research downgraded Illumina from a buy rating to a hold rating in a research report on Tuesday, December 26th. Barclays increased their price objective on Illumina from $150.00 to $185.00 and gave the stock an equal weight rating in a research report on Wednesday, October 25th. Finally, BidaskClub downgraded Illumina from a buy rating to a hold rating in a research report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the stock. Illumina presently has a consensus rating of Buy and an average target price of $214.38.

Illumina (NASDAQ ILMN) traded down $0.21 during trading on Tuesday, hitting $242.59. The stock had a trading volume of 982,608 shares, compared to its average volume of 936,445. Illumina has a 52-week low of $156.50 and a 52-week high of $245.74. The company has a quick ratio of 3.73, a current ratio of 4.22 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $35,420.00, a price-to-earnings ratio of 45.77, a P/E/G ratio of 3.13 and a beta of 0.79.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Tuesday, October 24th. The life sciences company reported $1.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.12. Illumina had a return on equity of 19.42% and a net margin of 30.34%. The firm had revenue of $714.00 million during the quarter, compared to analyst estimates of $692.77 million. During the same period last year, the company earned $0.97 earnings per share. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. research analysts forecast that Illumina will post 3.75 earnings per share for the current year.

In other Illumina news, Director Robert S. Epstein sold 1,250 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $226.55, for a total transaction of $283,187.50. Following the sale, the director now owns 9,088 shares in the company, valued at $2,058,886.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Charles Dadswell sold 1,609 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $207.88, for a total value of $334,478.92. Following the sale, the senior vice president now owns 7,217 shares in the company, valued at approximately $1,500,269.96. The disclosure for this sale can be found here. Insiders have sold 138,921 shares of company stock worth $29,744,781 in the last 90 days. Company insiders own 0.89% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Illumina by 2.6% during the second quarter. Vanguard Group Inc. now owns 9,904,340 shares of the life sciences company’s stock valued at $1,718,601,000 after purchasing an additional 255,498 shares in the last quarter. Ameriprise Financial Inc. raised its position in Illumina by 3.1% during the third quarter. Ameriprise Financial Inc. now owns 2,512,167 shares of the life sciences company’s stock valued at $500,416,000 after purchasing an additional 76,452 shares in the last quarter. Capital World Investors raised its position in Illumina by 23.8% during the second quarter. Capital World Investors now owns 2,135,000 shares of the life sciences company’s stock valued at $370,465,000 after purchasing an additional 410,000 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in 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 valued at $256,058,000 after purchasing an additional 527,548 shares in the last quarter. Finally, Winslow Capital Management LLC purchased a new stake in Illumina during the second quarter valued at about $211,584,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

WARNING: “Piper Jaffray Companies Reiterates “Buy” Rating for Illumina (ILMN)” was originally published by Community Financial News and is the property of of Community Financial News. If you are viewing this report on another website, it was illegally copied and republished in violation of U.S. and international copyright law. The original version of this report can be accessed at https://www.com-unik.info/2018/01/10/piper-jaffray-companies-reiterates-buy-rating-for-illumina-ilmn.html.

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.

Analyst Recommendations for Illumina (NASDAQ:ILMN)

Receive News & Ratings for Illumina Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illumina and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit