Illumina (NASDAQ:ILMN) Lifted to “Buy” at BidaskClub

BidaskClub upgraded shares of Illumina (NASDAQ:ILMN) from a hold rating to a buy rating in a report released on Tuesday, BidAskClub reports.

ILMN has been the subject of several other research reports. Zacks Investment Research raised shares of Illumina from a hold rating to a buy rating and set a $355.00 price objective for the company in a research report on Tuesday, April 2nd. Canaccord Genuity reissued a buy rating and set a $350.00 target price (down previously from $360.00) on shares of Illumina in a research note on Friday, April 26th. Wolfe Research assumed coverage on Illumina in a research note on Thursday, May 30th. They set an outperform rating for the company. Finally, OTR Global downgraded Illumina to a positive rating in a research note on Tuesday, April 2nd. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Illumina currently has an average rating of Buy and a consensus target price of $354.35.

ILMN opened at $335.89 on Tuesday. Illumina has a twelve month low of $268.62 and a twelve month high of $372.61. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.66 and a quick ratio of 3.33. The stock has a market cap of $49.38 billion, a P/E ratio of 58.72, a PEG ratio of 2.34 and a beta of 1.06.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, April 25th. The life sciences company reported $1.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.26. Illumina had a net margin of 25.06% and a return on equity of 23.49%. The business had revenue of $846.00 million during the quarter, compared to analysts’ expectations of $838.70 million. During the same quarter in the prior year, the business posted $1.45 earnings per share. Illumina’s revenue was up 8.2% compared to the same quarter last year. As a group, analysts anticipate that Illumina will post 6.68 EPS for the current fiscal year.

In other Illumina news, SVP Mostafa Ronaghi sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $305.49, for a total transaction of $3,054,900.00. Following the completion of the transaction, the senior vice president now owns 87,414 shares of the company’s stock, valued at $26,704,102.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jay T. Flatley sold 3,300 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $304.44, for a total value of $1,004,652.00. Following the transaction, the director now directly owns 282,516 shares of the company’s stock, valued at approximately $86,009,171.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,731 shares of company stock valued at $14,221,546. Insiders own 0.38% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC acquired a new position in shares of Illumina in the first quarter valued at approximately $139,000. Altfest L J & Co. Inc. acquired a new position in shares of Illumina in the first quarter valued at approximately $291,000. Meridian Wealth Management LLC increased its stake in shares of Illumina by 40.8% in the first quarter. Meridian Wealth Management LLC now owns 1,000 shares of the life sciences company’s stock valued at $311,000 after buying an additional 290 shares during the period. Rehmann Capital Advisory Group increased its stake in shares of Illumina by 59.9% in the first quarter. Rehmann Capital Advisory Group now owns 1,989 shares of the life sciences company’s stock valued at $618,000 after buying an additional 745 shares during the period. Finally, Diversified Trust Co acquired a new position in shares of Illumina in the first quarter valued at approximately $1,544,000. 89.73% of the stock is owned by institutional investors.

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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