Illumina (NASDAQ:ILMN) Upgraded to Strong-Buy at BidaskClub

Illumina (NASDAQ:ILMN) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Wednesday, BidAskClub reports.

A number of other equities analysts have also commented on ILMN. ValuEngine raised Illumina from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Piper Jaffray Companies cut their price objective on Illumina from $348.00 to $341.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Cowen set a $320.00 price objective on Illumina and gave the stock a “buy” rating in a research note on Friday, October 25th. Argus lifted their price objective on Illumina from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, Wolfe Research set a $380.00 price objective on Illumina and gave the stock a “buy” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $333.50.

Shares of ILMN stock traded up $0.41 during mid-day trading on Wednesday, reaching $322.40. 9,929 shares of the stock traded hands, compared to its average volume of 720,375. The stock’s fifty day simple moving average is $309.45 and its two-hundred day simple moving average is $310.80. Illumina has a 1-year low of $263.30 and a 1-year high of $380.76. The company has a market cap of $47.12 billion, a price-to-earnings ratio of 56.37, a price-to-earnings-growth ratio of 2.37 and a beta of 1.06. The company has a quick ratio of 6.15, a current ratio of 6.82 and a debt-to-equity ratio of 0.41.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Thursday, October 24th. The life sciences company reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.53. Illumina had a return on equity of 22.05% and a net margin of 28.14%. The firm had revenue of $907.00 million for the quarter, compared to analyst estimates of $872.65 million. During the same period last year, the firm posted $1.52 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Illumina will post 6.45 EPS for the current fiscal year.

In other Illumina news, SVP Mostafa Ronaghi sold 10,000 shares of Illumina stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $300.53, for a total value of $3,005,300.00. Following the completion of the sale, the senior vice president now directly owns 86,585 shares in the company, valued at $26,021,390.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Charles Dadswell sold 193 shares of Illumina stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $297.28, for a total value of $57,375.04. Following the completion of the sale, the senior vice president now owns 5,069 shares of the company’s stock, valued at $1,506,912.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,720 shares of company stock valued at $5,429,888. 0.38% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of ILMN. Cetera Advisors LLC increased its holdings in shares of Illumina by 5.4% during the third quarter. Cetera Advisors LLC now owns 679 shares of the life sciences company’s stock valued at $208,000 after acquiring an additional 35 shares in the last quarter. Bbva USA Bancshares Inc. increased its holdings in shares of Illumina by 2.0% during the second quarter. Bbva USA Bancshares Inc. now owns 2,020 shares of the life sciences company’s stock valued at $743,000 after acquiring an additional 40 shares in the last quarter. Zeke Capital Advisors LLC increased its holdings in shares of Illumina by 2.0% during the third quarter. Zeke Capital Advisors LLC now owns 2,044 shares of the life sciences company’s stock valued at $622,000 after acquiring an additional 40 shares in the last quarter. Bath Savings Trust Co increased its holdings in shares of Illumina by 4.0% during the third quarter. Bath Savings Trust Co now owns 1,105 shares of the life sciences company’s stock valued at $336,000 after acquiring an additional 43 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its holdings in shares of Illumina by 37.5% during the second quarter. Benjamin Edwards Inc. now owns 165 shares of the life sciences company’s stock valued at $61,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 91.76% of the company’s stock.

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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