Illumina (NASDAQ:ILMN) Raised to Buy at Wall Street Zen

Illumina (NASDAQ:ILMN) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other analysts also recently commented on ILMN. Daiwa America downgraded shares of Illumina from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 12th. Canaccord Genuity Group raised their price objective on shares of Illumina from $105.00 to $112.00 and gave the stock a “hold” rating in a research report on Friday, October 31st. Scotiabank downgraded Illumina from a “sector outperform” rating to a “sector perform” rating and set a $125.00 target price on the stock. in a research report on Friday, July 11th. Barclays increased their target price on Illumina from $95.00 to $100.00 and gave the stock an “underweight” rating in a research note on Friday, October 31st. Finally, UBS Group boosted their price target on Illumina from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Five analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $115.00.

Illumina Stock Performance

Shares of NASDAQ ILMN opened at $121.90 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $18.63 billion, a P/E ratio of 15.43, a P/E/G ratio of 2.34 and a beta of 1.42. Illumina has a 12 month low of $68.70 and a 12 month high of $154.43. The stock has a 50 day moving average of $100.51 and a 200-day moving average of $94.57.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Thursday, October 30th. The life sciences company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.18. Illumina had a return on equity of 28.93% and a net margin of 29.36%.The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $1.14 EPS. The company’s quarterly revenue was up .4% on a year-over-year basis. Illumina has set its FY 2025 guidance at 4.650-4.750 EPS. As a group, equities research analysts predict that Illumina will post 4.51 EPS for the current year.

Insider Buying and Selling

In related news, Director Scott Gottlieb acquired 500 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was purchased at an average cost of $122.13 per share, with a total value of $61,065.00. Following the acquisition, the director directly owned 12,523 shares of the company’s stock, valued at approximately $1,529,433.99. The trade was a 4.16% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Rise Advisors LLC lifted its position in Illumina by 173.6% during the first quarter. Rise Advisors LLC now owns 353 shares of the life sciences company’s stock worth $28,000 after purchasing an additional 224 shares during the period. Parkside Financial Bank & Trust raised its position in shares of Illumina by 65.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 290 shares of the life sciences company’s stock valued at $28,000 after buying an additional 115 shares in the last quarter. Quent Capital LLC bought a new stake in shares of Illumina during the 3rd quarter worth approximately $29,000. Cullen Frost Bankers Inc. bought a new stake in shares of Illumina during the 2nd quarter worth approximately $41,000. Finally, NewSquare Capital LLC boosted its position in shares of Illumina by 604.9% during the 2nd quarter. NewSquare Capital LLC now owns 430 shares of the life sciences company’s stock worth $41,000 after acquiring an additional 369 shares in the last quarter. Institutional investors own 89.42% of the company’s stock.

Illumina Company Profile

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.