The Illumina Inc. (ILMN) Stock Rating Upgraded by Vetr Inc.

The Illumina Inc. (ILMN) Stock Rating Upgraded by Vetr Inc.

Illumina Inc. (NASDAQ:ILMN) was upgraded by Vetr from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $165.56 price objective on the life sciences company’s stock. Vetr‘s price target suggests a potential upside of 21.57% from the company’s previous close.

A number of other equities analysts also recently weighed in on ILMN. Zacks Investment Research raised shares of Illumina from a “sell” rating to a “hold” rating in a research note on Monday, July 4th. Cantor Fitzgerald reaffirmed a “hold” rating on shares of Illumina in a research note on Wednesday, June 29th. Mizuho upped their price target on shares of Illumina from $138.00 to $148.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Canaccord Genuity dropped their price target on shares of Illumina from $165.00 to $135.00 and set a “hold” rating on the stock in a research note on Tuesday. Finally, Janney Montgomery Scott downgraded shares of Illumina from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $155.00 to $125.00 in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $157.50.

Shares of Illumina (NASDAQ:ILMN) opened at 136.18 on Tuesday. The stock has a market capitalization of $19.96 billion, a price-to-earnings ratio of 46.64 and a beta of 0.47. Illumina has a 12 month low of $127.10 and a 12 month high of $196.47. The stock’s 50 day moving average price is $172.97 and its 200-day moving average price is $156.29.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.13. Illumina had a net margin of 18.73% and a return on equity of 23.69%. The business had revenue of $600 million for the quarter, compared to the consensus estimate of $31.91 million. During the same period in the prior year, the business posted $0.80 earnings per share. Illumina’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities analysts forecast that Illumina will post $3.53 earnings per share for the current fiscal year.

In other news, Director Jay T. Flatley sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $172.99, for a total transaction of $3,459,800.00. Following the sale, the director now directly owns 508,061 shares of the company’s stock, valued at $87,889,472.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert S. Epstein sold 300 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $170.27, for a total transaction of $51,081.00. Following the sale, the director now directly owns 7,224 shares in the company, valued at $1,230,030.48. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ILMN. Capital Research Global Investors boosted its stake in Illumina by 17.1% in the second quarter. Capital Research Global Investors now owns 13,085,071 shares of the life sciences company’s stock valued at $1,836,882,000 after buying an additional 1,910,346 shares during the period. Capital World Investors boosted its stake in Illumina by 218.0% in the second quarter. Capital World Investors now owns 1,463,000 shares of the life sciences company’s stock valued at $205,376,000 after buying an additional 1,003,000 shares during the period. Baillie Gifford & Co. boosted its stake in Illumina by 3.8% in the second quarter. Baillie Gifford & Co. now owns 18,615,061 shares of the life sciences company’s stock valued at $2,613,182,000 after buying an additional 682,010 shares during the period. Rockefeller Financial Services Inc. boosted its stake in Illumina by 11,812.5% in the second quarter. Rockefeller Financial Services Inc. now owns 271,962 shares of the life sciences company’s stock valued at $38,177,000 after buying an additional 269,679 shares during the period. Finally, Eaton Vance Management boosted its stake in Illumina by 1,107.7% in the second quarter. Eaton Vance Management now owns 196,643 shares of the life sciences company’s stock valued at $27,605,000 after buying an additional 180,361 shares during the period. 95.22% of the stock is currently owned by institutional investors and hedge funds.

About Illumina

Illumina, Inc (Illumina) offers sequencing and array-based solutions for genetic analysis. The Company’s products and services serve customers in a range of markets, enabling the adoption of genomic solutions in research and clinical settings. The Company’s customers include genomic research centers, academic institutions, government laboratories and hospitals, as well as pharmaceutical, biotechnology, agrigenomics and commercial molecular diagnostic laboratories, and consumer genomics companies.

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