Vetr Inc. Upgrades Illumina, Inc. (ILMN) to Buy

Illumina, Inc. (NASDAQ:ILMN) was upgraded by research analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued on Wednesday, August 9th. The firm presently has a $209.78 price objective on the life sciences company’s stock. Vetr‘s price target points to a potential upside of 10.81% from the stock’s previous close.

ILMN has been the subject of several other research reports. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $187.00 price target (up previously from $170.00) on shares of Illumina in a research report on Friday, April 14th. Barclays PLC reaffirmed a “hold” rating and set a $150.00 price target on shares of Illumina in a research report on Wednesday, July 19th. BidaskClub lowered shares of Illumina from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Cowen and Company reissued an “outperform” rating and issued a $200.00 price objective on shares of Illumina in a research report on Wednesday, April 26th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $175.00 price objective (up previously from $165.00) on shares of Illumina in a research report on Saturday, April 29th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $177.01.

Illumina (ILMN) traded down 0.98% during trading on Wednesday, hitting $189.32. 882,072 shares of the company were exchanged. The company has a market capitalization of $27.64 billion, a price-to-earnings ratio of 37.99 and a beta of 0.83. Illumina has a 12 month low of $119.37 and a 12 month high of $199.95. The company has a 50-day moving average of $181.43 and a 200-day moving average of $174.88.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Tuesday, August 1st. The life sciences company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.68 by $0.14. Illumina had a net margin of 30.27% and a return on equity of 19.69%. The firm had revenue of $662 million during the quarter, compared to analyst estimates of $642.38 million. During the same quarter in the prior year, the business posted $0.86 earnings per share. Illumina’s revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts forecast that Illumina will post $3.65 EPS for the current year.

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In other Illumina news, EVP Marc Stapley sold 2,000 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $196.80, for a total transaction of $393,600.00. Following the sale, the executive vice president now directly owns 37,941 shares of the company’s stock, valued at $7,466,788.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Charles Dadswell sold 145 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $184.75, for a total transaction of $26,788.75. Following the sale, the senior vice president now directly owns 10,791 shares in the company, valued at $1,993,637.25. The disclosure for this sale can be found here. Insiders have sold a total of 154,010 shares of company stock worth $27,840,615 over the last quarter. 1.60% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in ILMN. First Citizens Bank & Trust Co. boosted its stake in Illumina by 0.4% in the second quarter. First Citizens Bank & Trust Co. now owns 3,088 shares of the life sciences company’s stock worth $536,000 after buying an additional 12 shares during the period. Patten Group Inc. boosted its stake in Illumina by 2.7% in the first quarter. Patten Group Inc. now owns 965 shares of the life sciences company’s stock worth $166,000 after buying an additional 25 shares during the period. Puzo Michael J boosted its stake in Illumina by 0.4% in the second quarter. Puzo Michael J now owns 5,955 shares of the life sciences company’s stock worth $1,032,000 after buying an additional 25 shares during the period. Flagship Harbor Advisors LLC boosted its stake in Illumina by 1.7% in the second quarter. Flagship Harbor Advisors LLC now owns 2,046 shares of the life sciences company’s stock worth $345,000 after buying an additional 35 shares during the period. Finally, Gemmer Asset Management LLC boosted its stake in Illumina by 5.7% in the first quarter. Gemmer Asset Management LLC now owns 686 shares of the life sciences company’s stock worth $117,000 after buying an additional 37 shares during the period. 93.91% of the stock is currently owned by institutional investors and hedge funds.

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Illumina (NASDAQ:ILMN)

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