Illumina (NASDAQ:ILMN) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Illumina (NASDAQ:ILMN) from a buy rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

Other research analysts have also issued reports about the company. TD Cowen increased their target price on Illumina from $210.00 to $270.00 and gave the stock a “hold” rating in a research report on Tuesday, October 13th. Leerink Partners upped their target price on shares of Illumina from $220.00 to $300.00 and gave the company an “outperform” rating in a research note on Tuesday, September 29th. Piper Sandler upped their target price on shares of Illumina from $225.00 to $305.00 and gave the stock an “overweight” rating in a research report on Monday, September 28th. Stephens downgraded shares of Illumina from an “overweight” rating to an “equal weight” rating and set a $275.00 target price on the stock. in a report on Friday, October 23rd. Finally, Zacks Research cut shares of Illumina from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 1st. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $244.24.

Illumina Trading Up 2.5%

Shares of ILMN stock opened at $213.13 on Friday. The firm has a market cap of $32.23 billion, a P/E ratio of 36.68, a PEG ratio of 2.89 and a beta of 1.46. Illumina has a 1-year low of $112.65 and a 1-year high of $309.35. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.63 and a quick ratio of 2.05. The firm’s 50-day simple moving average is $249.15 and its 200-day simple moving average is $178.12.

Illumina (NASDAQ:ILMN) last released its earnings results on Thursday, October 29th. The life sciences company reported $1.62 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm earned $1.34 earnings per share. Illumina’s revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts forecast that Illumina will post 5.43 EPS for the current year.

Insider Buying and Selling

In other Illumina news, Director Keith Meister sold 299,336 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $217.96, for a total transaction of $65,243,274.56. Following the completion of the transaction, the director owned 1,409,851 shares of the company’s stock, valued at $307,291,123.96. The trade was a 17.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 1,601,541 shares of company stock valued at $354,755,291. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Illumina

Several hedge funds have recently made changes to their positions in ILMN. Allworth Financial LP raised its stake in shares of Illumina by 2.7% in the third quarter. Allworth Financial LP now owns 6,139 shares of the life sciences company’s stock valued at $1,680,000 after purchasing an additional 163 shares in the last quarter. Altar Rock LLC acquired a new position in Illumina during the 3rd quarter worth about $248,000. Private Advisory Group LLC acquired a new stake in Illumina in the third quarter worth about $4,292,000. Legacy Trust boosted its stake in Illumina by 1.1% during the 3rd quarter. Legacy Trust now owns 15,334 shares of the life sciences company’s stock worth $4,197,000 after acquiring an additional 164 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Illumina by 8.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 232,646 shares of the life sciences company’s stock valued at $63,651,000 after purchasing an additional 17,519 shares during the period. Institutional investors own 89.42% of the company’s stock.

Illumina Company Profile

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.