Trade Report: The Wells Fargo & Co. Reiterates Market Perform Rating for Illumina Inc. (ILMN)

The Wells Fargo & Co. Reiterates Market Perform Rating for Illumina Inc. (ILMN)

Illumina Inc. (NASDAQ:ILMN)‘s stock had its “market perform” rating reissued by research analysts at Wells Fargo & Co. in a research report issued on Wednesday. They presently have a $137.50 price target on the life sciences company’s stock, down from their previous price target of $150.00. Wells Fargo & Co.’s price target indicates a potential upside of 0.19% from the stock’s previous close.

A number of other analysts have also recently commented 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 objective on shares of Illumina from $138.00 to $148.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. BTIG Research reaffirmed a “neutral” rating on shares of Illumina in a research note on Wednesday. Finally, Canaccord Genuity dropped their price objective on shares of Illumina from $165.00 to $135.00 and set a “hold” rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $156.88.

Shares of Illumina (NASDAQ:ILMN) opened at 137.17 on Wednesday. Illumina has a 1-year low of $127.10 and a 1-year high of $196.47. The company has a market cap of $20.11 billion, a P/E ratio of 46.98 and a beta of 0.47. The stock’s 50 day moving average is $172.04 and its 200 day moving average is $156.15.

Illumina (NASDAQ:ILMN) last released its earnings results on Tuesday, July 26th. The life sciences company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The business earned $600 million during the quarter, compared to analysts’ expectations of $31.91 million. Illumina had a net margin of 18.73% and a return on equity of 23.69%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.80 earnings per share. On average, analysts predict that Illumina will post $3.53 earnings per share for the current year.

In other Illumina news, Director Robert S. Epstein sold 1,200 shares of the stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $150.00, for a total transaction of $180,000.00. Following the transaction, the director now owns 7,824 shares in the company, valued at $1,173,600. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jay T. Flatley sold 10,000 shares of the stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $150.00, for a total value of $1,500,000.00. Following the completion of the sale, the director now directly owns 498,061 shares of the company’s stock, valued at $74,709,150. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Physicians Financial Services Inc. boosted its stake in Illumina by 2,121.2% in the second quarter. Physicians Financial Services Inc. now owns 733 shares of the life sciences company’s stock valued at $103,000 after buying an additional 700 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Illumina by 25.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 789 shares of the life sciences company’s stock valued at $110,000 after buying an additional 158 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in Illumina during the second quarter valued at $112,000. Ropes Wealth Advisors LLC boosted its stake in Illumina by 72.6% in the second quarter. Ropes Wealth Advisors LLC now owns 863 shares of the life sciences company’s stock valued at $121,000 after buying an additional 363 shares in the last quarter. Finally, Checchi Capital Advisers LLC boosted its stake in Illumina by 2.4% in the second quarter. Checchi Capital Advisers LLC now owns 958 shares of the life sciences company’s stock valued at $134,000 after buying an additional 22 shares in the last quarter. 95.22% of the stock is owned by institutional investors.

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