Piper Sandler Increases Illumina (NASDAQ:ILMN) Price Target to $370.00

Illumina (NASDAQ:ILMN) had its target price boosted by Piper Sandler from $341.00 to $370.00 in a research report issued on Thursday, The Fly reports. The firm presently has an “overweight” rating on the life sciences company’s stock. Piper Sandler’s price objective would suggest a potential upside of 10.27% from the company’s previous close. Piper Sandler also issued estimates for Illumina’s Q1 2021 earnings at $1.86 EPS, Q2 2021 earnings at $1.92 EPS, Q3 2021 earnings at $2.02 EPS and Q4 2021 earnings at $2.21 EPS.

Several other equities analysts have also commented on the company. ValuEngine lowered Illumina from a “buy” rating to a “hold” rating in a report on Friday, December 20th. UBS Group raised Illumina from a “neutral” rating to a “buy” rating and set a $355.00 target price on the stock in a report on Friday, January 3rd. Stifel Nicolaus initiated coverage on Illumina in a report on Thursday, November 14th. They issued a “buy” rating and a $345.00 target price on the stock. Guggenheim initiated coverage on Illumina in a report on Friday, October 25th. They issued a “buy” rating and a $350.00 target price on the stock. Finally, Cowen reissued an “outperform” rating and issued a $335.00 target price (up previously from $320.00) on shares of Illumina in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $340.69.

NASDAQ:ILMN opened at $335.53 on Thursday. The firm has a market capitalization of $49.19 billion, a PE ratio of 53.97, a price-to-earnings-growth ratio of 2.26 and a beta of 1.05. The business’s fifty day moving average price is $325.78 and its 200 day moving average price is $310.67. The company has a debt-to-equity ratio of 0.41, a current ratio of 6.82 and a quick ratio of 6.15. Illumina has a 12 month low of $263.30 and a 12 month high of $380.76.

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

In other Illumina news, CFO Sam Samad sold 892 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $320.00, for a total transaction of $285,440.00. Following the transaction, the chief financial officer now owns 3,461 shares of the company’s stock, valued at $1,107,520. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Charles Dadswell sold 193 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $297.28, for a total value of $57,375.04. Following the transaction, the senior vice president now directly owns 5,069 shares in the company, valued at approximately $1,506,912.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,920 shares of company stock worth $2,505,932. Corporate insiders own 0.38% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ILMN. Keudell Morrison Wealth Management purchased a new position in shares of Illumina during the second quarter worth about $1,483,000. Cetera Advisors LLC purchased a new position in shares of Illumina during the second quarter worth about $236,000. Ossiam purchased a new position in shares of Illumina during the second quarter worth about $62,000. MML Investors Services LLC grew its holdings in shares of Illumina by 38.5% during the second quarter. MML Investors Services LLC now owns 3,706 shares of the life sciences company’s stock worth $1,364,000 after buying an additional 1,030 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in shares of Illumina by 4.6% during the second quarter. Parametric Portfolio Associates LLC now owns 382,940 shares of the life sciences company’s stock worth $140,979,000 after buying an additional 16,667 shares during the last quarter. 91.75% of the stock is currently 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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