Wells Fargo & Co Reiterates Positive Rating for Illumina (ILMN)

Wells Fargo & Co reissued their positive rating on shares of Illumina (NASDAQ:ILMN) in a research report report published on Tuesday morning, The Fly reports. Wells Fargo & Co currently has a $260.00 price objective on the life sciences company’s stock, up from their previous price objective of $250.00.

ILMN has been the topic of several other research reports. Barclays increased 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. Zacks Investment Research raised Illumina from a hold rating to a buy rating and set a $229.00 target price on the stock in a research report on Friday, October 27th. Canaccord Genuity reaffirmed a buy rating and set a $230.00 target price (up previously from $215.00) on shares of Illumina in a research report on Thursday, October 12th. Piper Jaffray Companies reaffirmed an overweight rating and set a $226.00 target price (up previously from $202.00) on shares of Illumina in a research report on Monday, October 9th. Finally, Janney Montgomery Scott raised Illumina from a sell rating to a neutral rating in a research report on Monday, October 23rd. One investment 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. The stock presently has a consensus rating of Buy and a consensus target price of $214.38.

Shares of Illumina (ILMN) traded down $2.55 during midday trading on Tuesday, reaching $240.04. The company’s stock had a trading volume of 810,000 shares, compared to its average volume of 1,194,313. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.22 and a quick ratio of 3.73. The company has a market cap of $35,800.00, a PE ratio of 45.29, a PEG ratio of 3.13 and a beta of 0.79. Illumina has a 1-year low of $156.50 and a 1-year high of $245.74.

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

In related news, EVP Omead Ostadan sold 3,540 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $226.91, for a total value of $803,261.40. Following the completion of the transaction, the executive vice president now owns 26,827 shares in the company, valued at approximately $6,087,314.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jay T. Flatley sold 20,000 shares of the firm’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $210.43, for a total value of $4,208,600.00. Following the completion of the transaction, the director now owns 539,176 shares of the company’s stock, valued at approximately $113,458,805.68. The disclosure for this sale can be found here. Insiders sold a total of 137,671 shares of company stock valued at $29,485,768 in the last three months. Insiders own 0.89% of the company’s stock.

A number of hedge funds have recently modified their holdings of ILMN. Vanguard Group Inc. raised its stake in shares of Illumina by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 9,904,340 shares of the life sciences company’s stock valued at $1,718,601,000 after buying an additional 255,498 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Illumina by 3.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,512,167 shares of the life sciences company’s stock valued at $500,416,000 after buying an additional 76,452 shares during the last quarter. Capital World Investors raised its stake in shares of Illumina by 23.8% during the 2nd quarter. Capital World Investors now owns 2,135,000 shares of the life sciences company’s stock valued at $370,465,000 after buying an additional 410,000 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Illumina by 55.6% during the 2nd 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 buying an additional 527,548 shares during the last quarter. Finally, Winslow Capital Management LLC purchased a new position in shares of Illumina during the 2nd quarter valued at about $211,584,000. Institutional investors own 91.60% of the company’s stock.

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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.

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