Deutsche Bank Cuts Illumina (NASDAQ:ILMN) Price Target to $280.00

Illumina (NASDAQ:ILMN) had its price target trimmed by Deutsche Bank from $290.00 to $280.00 in a research note published on Friday, BenzingaRatingsTable reports. The firm currently has a hold rating on the life sciences company’s stock.

ILMN has been the subject of a number of other reports. Canaccord Genuity reiterated a buy rating and issued a $360.00 target price (up from $350.00) on shares of Illumina in a research report on Monday, June 10th. BidaskClub upgraded shares of Zumiez from a sell rating to a hold rating in a research report on Saturday, June 22nd. OTR Global cut shares of Illumina to a positive rating in a research report on Tuesday, April 2nd. Wolfe Research initiated coverage on shares of Waters in a research report on Thursday, May 30th. They issued an underperform rating for the company. Finally, Bank of America set a $80.00 target price on shares of Colgate-Palmolive and gave the company a buy rating in a research report on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the stock. Illumina presently has an average rating of Buy and an average target price of $341.15.

NASDAQ:ILMN opened at $302.29 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.66 and a quick ratio of 3.33. The business’s fifty day moving average is $343.54. The firm has a market capitalization of $44.84 billion, a PE ratio of 52.85, a PEG ratio of 2.12 and a beta of 1.15. Illumina has a fifty-two week low of $268.62 and a fifty-two week high of $380.76.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, April 25th. The life sciences company reported $1.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.26. The company had revenue of $846.00 million during the quarter, compared to analysts’ expectations of $838.70 million. Illumina had a net margin of 25.06% and a return on equity of 23.49%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.45 earnings per share. Equities research analysts predict that Illumina will post 6.68 earnings per share for the current year.

In related news, Director Robert S. Epstein sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $310.44, for a total value of $1,552,200.00. Following the completion of the sale, the director now owns 8,256 shares of the company’s stock, valued at $2,562,992.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Charles Dadswell sold 124 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $311.77, for a total transaction of $38,659.48. Following the completion of the sale, the senior vice president now directly owns 8,086 shares of the company’s stock, valued at approximately $2,520,972.22. The disclosure for this sale can be found here. Insiders sold 59,291 shares of company stock valued at $19,459,234 in the last three months. 0.38% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in ILMN. Massmutual Trust Co. FSB ADV boosted its stake in Illumina by 83.0% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 86 shares of the life sciences company’s stock worth $26,000 after buying an additional 39 shares during the period. Strategy Asset Managers LLC purchased a new position in Illumina during the first quarter worth about $26,000. Financial Advocates Investment Management boosted its stake in Illumina by 1,430.0% during the fourth quarter. Financial Advocates Investment Management now owns 612 shares of the life sciences company’s stock worth $28,000 after buying an additional 572 shares during the period. C J Advisory Inc purchased a new position in Illumina during the first quarter worth about $29,000. Finally, Lake Point Wealth Management purchased a new position in Illumina during the fourth quarter worth about $30,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

About Illumina

Illumina, Inc provides sequencing and array-based solutions for genetic analysis. The company operates in two segments, Core Illumina and Consolidated VIEs. It offers sequencing that provides researchers with various applications and the ability to sequence mammalian genomes; and arrays for a range of deoxyribonucleic acid and RNA analysis applications, including single nucleotide polymorphism genotyping, copy number variations analysis, gene expression analysis, and methylation analysis, as well as enables the detection of known genetic markers on a single array.

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