Illumina (NASDAQ:ILMN) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Illumina (NASDAQ:ILMN) from a hold rating to a buy rating in a research note published on Saturday morning.

Other equities analysts have also issued reports about the stock. Evercore ISI restated an “outperform” rating and issued a $155.00 price objective on shares of Illumina in a report on Monday, January 5th. Barclays increased their price target on Illumina from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Monday, December 15th. Weiss Ratings restated a “hold (c-)” rating on shares of Illumina in a research report on Monday, December 29th. Robert W. Baird set a $109.00 price objective on Illumina in a report on Friday, October 31st. Finally, TD Cowen increased their target price on Illumina from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Wednesday, January 7th. Five analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $122.56.

Illumina Price Performance

ILMN opened at $141.65 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.43 and a quick ratio of 1.12. The stock has a market capitalization of $21.64 billion, a P/E ratio of 31.76, a price-to-earnings-growth ratio of 2.36 and a beta of 1.41. The company’s 50 day simple moving average is $132.43 and its 200-day simple moving average is $111.50. Illumina has a one year low of $68.70 and a one year high of $151.34.

Illumina (NASDAQ:ILMN) last issued 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 29.21% and a net margin of 16.40%.The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. Illumina has set its FY 2025 guidance at 4.650-4.750 EPS. Sell-side analysts anticipate that Illumina will post 4.51 earnings per share for the current fiscal year.

Insider Activity at Illumina

In related news, Director Scott Gottlieb purchased 500 shares of Illumina stock in a transaction dated Monday, November 3rd. The stock was bought at an average price of $122.13 per share, for a total transaction of $61,065.00. Following the completion of the acquisition, the director directly owned 12,523 shares of the company’s stock, valued at $1,529,433.99. This represents a 4.16% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott M. Davies sold 323 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $136.09, for a total transaction of $43,957.07. Following the sale, the insider directly owned 17,887 shares of the company’s stock, valued at $2,434,241.83. This represents a 1.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Illumina

A number of large investors have recently added to or reduced their stakes in the company. Board of the Pension Protection Fund bought a new stake in shares of Illumina in the fourth quarter valued at about $26,000. Parkside Financial Bank & Trust lifted its stake in 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 acquiring an additional 115 shares in the last quarter. Quent Capital LLC acquired a new position in Illumina during the 3rd quarter worth approximately $29,000. Quarry LP bought a new position in shares of Illumina during the 3rd quarter worth approximately $32,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Illumina in the third quarter valued at approximately $33,000. Institutional investors own 89.42% of the company’s stock.

About Illumina

Illumina, Inc (NASDAQ: ILMN) is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company’s product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.