Illumina (NASDAQ:ILMN) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of Illumina (NASDAQ:ILMN) from a strong-buy rating to a hold rating in a report published on Tuesday morning,Zacks reports.

A number of other research analysts also recently issued reports on ILMN. Deutsche Bank Aktiengesellschaft downgraded Illumina to a “hold” rating in a research note on Wednesday, August 5th. Evercore reaffirmed an “outperform” rating on shares of Illumina in a report on Monday, July 6th. Citigroup upped their price target on shares of Illumina from $95.00 to $113.00 and gave the stock a “sell” rating in a research report on Monday, August 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Illumina in a research note on Monday. Finally, Piper Sandler restated an “overweight” rating and set a $225.00 price objective (up from $200.00) on shares of Illumina in a research report on Monday, August 3rd. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Illumina has an average rating of “Hold” and a consensus price target of $188.40.

Illumina Trading Up 3.0%

NASDAQ:ILMN opened at $213.25 on Tuesday. Illumina has a one year low of $88.00 and a one year high of $231.81. The business has a fifty day moving average price of $196.70 and a 200-day moving average price of $157.87. The firm has a market capitalization of $32.20 billion, a price-to-earnings ratio of 39.79, a price-to-earnings-growth ratio of 2.93 and a beta of 1.46. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.80 and a quick ratio of 1.40.

Illumina (NASDAQ:ILMN) last released its earnings results on Thursday, July 30th. The life sciences company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.08. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Illumina had a return on equity of 29.84% and a net margin of 18.36%.Illumina’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.19 earnings per share. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. Sell-side analysts forecast that Illumina will post 5.36 EPS for the current year.

Insider Activity at Illumina

In other Illumina news, Director Keith A. Meister sold 138,379 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $228.89, for a total transaction of $31,673,569.31. Following the completion of the sale, the director directly owned 1,033,910 shares of the company’s stock, valued at $236,651,659.90. This trade represents a 11.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Scott M. Davies sold 615 shares of Illumina stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $200.00, for a total transaction of $123,000.00. Following the sale, the insider owned 20,338 shares in the company, valued at approximately $4,067,600. The trade was a 2.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,799,688 shares of company stock valued at $379,517,231. 2.90% of the stock is owned by company insiders.

Institutional Trading of Illumina

A number of institutional investors and hedge funds have recently bought and sold shares of ILMN. Elyxium Wealth LLC bought a new position in shares of Illumina during the 4th quarter valued at about $25,000. Fiduciary Financial Advisors bought a new stake in shares of Illumina in the second quarter worth about $26,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Illumina in the second quarter worth about $32,000. Quarry LP purchased a new stake in shares of Illumina in the third quarter worth about $32,000. Finally, Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of Illumina in the fourth quarter worth about $33,000. 89.42% of the stock is currently owned by institutional investors.

About Illumina

Illumina, Inc (NASDAQ: ILMN) is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company’s product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.