Illumina, Inc. (NASDAQ:ILMN) Stock Has Average Target Price of $238.53 According to Brokerages

Illumina, Inc. (NASDAQ:ILMN) has been given a consensus recommendation of “Hold” by the nineteen analysts that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $244.24.

A number of analysts recently issued reports on ILMN shares. Zacks Research downgraded Illumina from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 1st. Stifel Nicolaus increased their price target on Illumina from $155.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Barclays increased their price target on Illumina from $160.00 to $200.00 and gave the company an “underweight” rating in a research report on Wednesday, October 7th. Stephens downgraded Illumina from an “overweight” rating to an “equal weight” rating and set a $275.00 price target for the company. in a research note on Friday, October 23rd. Finally, Piper Sandler boosted their price target on Illumina from $225.00 to $305.00 and gave the stock an “overweight” rating in a research report on Monday, September 28th.

Insider Activity at Illumina

In related news, Director Keith Meister sold 50,000 shares of the firm’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $227.17, for a total value of $11,358,500.00. Following the completion of the transaction, the director directly owned 488,917 shares of the company’s stock, valued at approximately $111,067,274.89. This trade represents a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 1,601,541 shares of company stock valued at $354,755,291. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Illumina

Several institutional investors and hedge funds have recently added to or reduced their stakes in ILMN. BlackRock Inc. bought a new position in shares of Illumina in the 2nd quarter valued at about $3,374,423,000. WCM Investment Management LLC increased its stake in shares of Illumina by 45.5% during the 1st quarter. WCM Investment Management LLC now owns 5,923,173 shares of the life sciences company’s stock worth $715,579,000 after purchasing an additional 1,851,848 shares during the last quarter. Primecap Management Co. CA bought a new stake in shares of Illumina in the 2nd quarter valued at about $617,981,000. Janus Henderson Group PLC raised its holdings in shares of Illumina by 1.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,100,638 shares of the life sciences company’s stock valued at $258,924,000 after purchasing an additional 29,094 shares during the period. Finally, Southpoint Capital Advisors LP raised its holdings in shares of Illumina by 20.0% in the 1st quarter. Southpoint Capital Advisors LP now owns 2,100,000 shares of the life sciences company’s stock valued at $258,846,000 after purchasing an additional 349,536 shares during the period. 89.42% of the stock is owned by institutional investors.

Illumina Stock Up 2.5%

Shares of ILMN stock opened at $213.13 on Friday. The company has a current ratio of 2.63, a quick ratio of 2.05 and a debt-to-equity ratio of 0.57. Illumina has a 1 year low of $112.65 and a 1 year high of $309.35. The firm’s fifty day moving average price is $249.15 and its two-hundred day moving average price is $178.12. The firm has a market capitalization of $32.23 billion, a P/E ratio of 36.68, a PEG ratio of 2.89 and a beta of 1.46.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, October 29th. The life sciences company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.26. Illumina had a net margin of 19.72% and a return on equity of 28.38%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the business posted $1.34 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities analysts predict that Illumina will post 5.43 EPS for the current fiscal year.

About Illumina

Illumina, Inc develops and supplies technologies used to analyze genetic variation and biological function. Its products include next-generation sequencing systems, microarrays, reagents and consumables, as well as software and related services that help customers generate and interpret genomic data.

The company’s technology is used in applications such as medical and population research, genetic testing, drug development, and agricultural and environmental studies. Its customers include academic and government research institutions, hospitals and clinical laboratories, biotechnology and pharmaceutical companies, and other organizations around the world.

Founded in 1998 and headquartered in San Diego, California, Illumina serves customers internationally.