Illumina (ILMN) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Illumina (NASDAQ:ILMN) from a hold rating to a buy rating in a research note published on Tuesday morning. They currently have $252.00 price objective 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.”

Other analysts have also recently issued reports about the company. Wells Fargo & Company reiterated a market perform rating and set a $205.00 price target (up from $200.00) on shares of Illumina in a research report on Wednesday, October 25th. Barclays restated an equal weight rating and issued a $150.00 target price on shares of Illumina in a report on Wednesday, August 9th. BidaskClub cut Illumina from a hold rating to a sell rating in a report on Thursday, August 17th. Bank of America upped their target price on Illumina from $215.00 to $240.00 and gave the company a buy rating in a report on Wednesday, October 25th. Finally, Vetr raised Illumina from a hold rating to a buy rating and set a $217.50 price target on the stock in a research note on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Illumina presently has a consensus rating of Buy and an average target price of $201.98.

Illumina (NASDAQ:ILMN) traded up $2.98 during trading on Tuesday, hitting $217.65. The stock had a trading volume of 588,430 shares, compared to its average volume of 731,127. The stock has a market capitalization of $31,341.82, a PE ratio of 62.77, a PEG ratio of 3.55 and a beta of 0.79. Illumina has a 1-year low of $121.47 and a 1-year high of $230.72. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.22 and a quick ratio of 3.73.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Tuesday, October 24th. The life sciences company reported $1.11 EPS for the quarter, beating 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 business had revenue of $714.00 million during the quarter, compared to analysts’ expectations of $692.77 million. During the same period in the previous year, the business earned $0.97 earnings per share. The business’s revenue was up 17.6% compared to the same quarter last year. equities analysts forecast that Illumina will post 3.75 EPS for the current fiscal year.

In other Illumina news, SVP Charles Dadswell sold 145 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $225.33, for a total transaction of $32,672.85. Following the completion of the sale, the senior vice president now directly owns 6,388 shares of the company’s stock, valued at approximately $1,439,408.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jay T. Flatley sold 20,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $212.55, for a total value of $4,251,000.00. Following the sale, the director now directly owns 505,980 shares of the company’s stock, valued at $107,546,049. The disclosure for this sale can be found here. Insiders have sold a total of 166,150 shares of company stock worth $34,767,331 in the last 90 days. 0.89% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of ILMN. Advisory Services Network LLC lifted its position in Illumina by 13.0% during the 2nd quarter. Advisory Services Network LLC now owns 772 shares of the life sciences company’s stock worth $134,000 after acquiring an additional 89 shares during the period. Penserra Capital Management LLC lifted its position in Illumina by 13.0% during the 2nd quarter. Penserra Capital Management LLC now owns 884 shares of the life sciences company’s stock worth $153,000 after acquiring an additional 102 shares during the period. Dupont Capital Management Corp acquired a new stake in Illumina during the 3rd quarter worth approximately $153,000. Paradigm Asset Management Co. LLC lifted its holdings in shares of Illumina by 5.6% in the 2nd 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 period. Finally, Patten Group Inc. lifted its holdings in shares of Illumina by 71.1% in the 3rd quarter. Patten Group Inc. now owns 1,480 shares of the life sciences company’s stock valued at $172,000 after buying an additional 615 shares during the period. 91.75% of the stock is owned by institutional investors.

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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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