The Cowen and Company Reaffirms Outperform Rating for Illumina Inc. (ILMN)

The Cowen and Company Reaffirms Outperform Rating for Illumina Inc. (ILMN)

Cowen and Company reissued their outperform rating on shares of Illumina Inc. (NASDAQ:ILMN) in a research report sent to investors on Wednesday. Cowen and Company currently has a $160.00 price target on the life sciences company’s stock.

Several other research firms also recently issued reports on ILMN. JPMorgan Chase & Co. boosted their price target on Illumina from $185.00 to $200.00 and gave the company an overweight rating in a research note on Wednesday, July 27th. Cantor Fitzgerald restated a hold rating and issued a $165.00 price target on shares of Illumina in a research note on Wednesday, July 27th. Mizuho boosted their price target on Illumina from $138.00 to $148.00 and gave the company a neutral rating in a research note on Wednesday, July 27th. Citigroup Inc. downgraded Illumina from a buy rating to a neutral rating and reduced their price target for the company from $190.00 to $140.00 in a research note on Tuesday, October 11th. Finally, Zacks Investment Research upgraded Illumina from a sell rating to a hold rating and set a $186.00 price target for the company in a research note on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $156.88.

Shares of Illumina (NASDAQ:ILMN) opened at 141.23 on Wednesday. Illumina has a 52 week low of $127.10 and a 52 week high of $196.47. The firm has a market capitalization of $20.70 billion, a price-to-earnings ratio of 48.37 and a beta of 0.47. The stock has a 50 day moving average price of $170.26 and a 200-day moving average price of $155.88.

Illumina (NASDAQ:ILMN) last posted its earnings results on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The business had revenue of $600 million for the quarter, compared to analyst estimates of $31.91 million. Illumina had a return on equity of 23.69% and a net margin of 18.73%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.80 EPS. On average, equities research analysts forecast 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 value 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 can be accessed through this hyperlink. Also, Director Jay T. Flatley sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. Following the completion of the transaction, the director now owns 498,061 shares in the company, valued at approximately $74,709,150. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Research Global Investors raised its position in shares of 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 last quarter. Capital World Investors raised its position 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 worth $205,376,000 after buying an additional 1,003,000 shares in the last quarter. Baillie Gifford & Co. raised its position 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 worth $2,613,182,000 after buying an additional 682,010 shares in the last quarter. Rockefeller Financial Services Inc. raised its position 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 worth $38,177,000 after buying an additional 269,679 shares in the last quarter. Finally, Eaton Vance Management raised its position 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 worth $27,605,000 after buying an additional 180,361 shares in the last quarter. Institutional investors and hedge funds own 95.24% of the company’s stock.

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