Canaccord Genuity Reaffirms “Buy” Rating for Illumina, Inc. (ILMN)

Canaccord Genuity reissued their buy rating on shares of Illumina, Inc. (NASDAQ:ILMN) in a research report report published on Thursday morning. Canaccord Genuity currently has a $230.00 target price on the life sciences company’s stock, up from their prior target price of $215.00.

Other equities research analysts have also recently issued research reports about the stock. First Analysis raised shares of Illumina from an underweight rating to an equal weight rating and set a $176.00 price target for the company in a research report on Wednesday, August 2nd. Zacks Investment Research cut shares of Illumina from a buy rating to a hold rating in a research report on Friday, August 4th. Barclays PLC reaffirmed an equal weight rating and issued a $150.00 price target on shares of Illumina in a research report on Wednesday, August 9th. BidaskClub cut shares of Illumina from a hold rating to a sell rating in a research report on Thursday, August 17th. Finally, Vetr cut shares of Illumina from a strong-buy rating to a hold rating and set a $202.18 price target for the company. in a research report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $190.50.

Illumina (NASDAQ ILMN) traded down 0.63% during trading on Thursday, hitting $206.92. 422,227 shares of the stock traded hands. The firm has a market cap of $30.21 billion, a PE ratio of 41.52 and a beta of 0.76. The firm has a 50-day moving average price of $204.85 and a 200 day moving average price of $185.82. Illumina has a 12 month low of $119.37 and a 12 month high of $214.34.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Tuesday, August 1st. The life sciences company reported $0.82 earnings per share 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 $662.00 million during the quarter, compared to analysts’ expectations of $642.38 million. During the same quarter in the prior year, the company earned $0.86 EPS. The company’s revenue was up 10.3% compared to the same quarter last year. On average, equities analysts forecast that Illumina will post $3.65 EPS for the current fiscal year.

WARNING: This story was published by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this story on another site, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this story can be viewed at https://stocknewstimes.com/2017/10/15/canaccord-genuity-reaffirms-buy-rating-for-illumina-inc-ilmn.html.

In other Illumina news, Director Jay T. Flatley sold 15,000 shares of the stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $170.77, for a total transaction of $2,561,550.00. Following the transaction, the director now directly owns 534,176 shares of the company’s stock, valued at $91,221,235.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Omead Ostadan sold 1,671 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $195.26, for a total transaction of $326,279.46. Following the transaction, the executive vice president now directly owns 24,571 shares in the company, valued at $4,797,733.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 197,766 shares of company stock worth $38,972,884. 1.60% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC lifted its holdings in Illumina by 13.0% during the second quarter. Advisory Services Network LLC now owns 772 shares of the life sciences company’s stock valued at $134,000 after purchasing an additional 89 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in Illumina by 13.0% during the second quarter. Penserra Capital Management LLC now owns 884 shares of the life sciences company’s stock valued at $153,000 after purchasing an additional 102 shares in the last quarter. Paradigm Asset Management Co. LLC lifted its holdings in Illumina by 5.6% during the second quarter. Paradigm Asset Management Co. LLC now owns 950 shares of the life sciences company’s stock valued at $165,000 after purchasing an additional 50 shares in the last quarter. Patten Group Inc. lifted its holdings in Illumina by 2.7% during the first quarter. Patten Group Inc. now owns 965 shares of the life sciences company’s stock valued at $166,000 after purchasing an additional 25 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. lifted its holdings in Illumina by 11.3% during the second quarter. NN Investment Partners Holdings N.V. now owns 985 shares of the life sciences company’s stock valued at $171,000 after purchasing an additional 100 shares in the last quarter. 93.32% 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.

Analyst Recommendations for Illumina (NASDAQ:ILMN)

Receive News & Ratings for Illumina Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illumina Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply