Several other brokerages also recently commented on ILMN. Piper Sandler downgraded Illumina from an overweight rating to a neutral rating and lowered their price objective for the company from $356.00 to $340.00 in a research report on Friday, August 7th. TheStreet cut Illumina from a b rating to a c+ rating in a report on Thursday, August 6th. Argus reaffirmed a reduce rating and issued a $380.00 target price on shares of Illumina in a report on Friday, September 11th. Evercore ISI cut Illumina from an in-line rating to an underperform rating and set a $310.00 target price on the stock. in a report on Friday, August 7th. Finally, SVB Leerink reduced their target price on Illumina from $370.00 to $360.00 and set an outperform rating on the stock in a report on Friday, August 7th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $338.17.
Shares of Illumina stock opened at $270.13 on Friday. The stock’s 50-day simple moving average is $349.85 and its 200-day simple moving average is $332.02. Illumina has a 52 week low of $196.78 and a 52 week high of $404.20. The company has a market capitalization of $39.44 billion, a price-to-earnings ratio of 57.72, a PEG ratio of 11.52 and a beta of 0.88. The company has a quick ratio of 3.37, a current ratio of 3.76 and a debt-to-equity ratio of 0.14.
In other Illumina news, SVP Charles Dadswell sold 121 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $385.19, for a total transaction of $46,607.99. Following the completion of the sale, the senior vice president now owns 7,913 shares in the company, valued at $3,048,008.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Susan H. Tousi sold 800 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $399.03, for a total value of $319,224.00. The disclosure for this sale can be found here. Insiders sold 30,302 shares of company stock valued at $11,158,289 in the last quarter. 0.38% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of ILMN. Public Employees Retirement Association of Colorado increased its position in shares of Illumina by 3.0% during the first quarter. Public Employees Retirement Association of Colorado now owns 27,941 shares of the life sciences company’s stock worth $7,631,000 after purchasing an additional 807 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Illumina by 7.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,127 shares of the life sciences company’s stock worth $1,947,000 after purchasing an additional 524 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Illumina during the first quarter worth $823,000. William Blair Investment Management LLC increased its position in shares of Illumina by 34.1% during the first quarter. William Blair Investment Management LLC now owns 93,560 shares of the life sciences company’s stock worth $25,553,000 after purchasing an additional 23,778 shares in the last quarter. Finally, Commerce Bank increased its position in shares of Illumina by 40.9% during the first quarter. Commerce Bank now owns 3,491 shares of the life sciences company’s stock worth $954,000 after purchasing an additional 1,014 shares in the last quarter. 92.89% of the stock is currently owned by institutional investors and hedge funds.
Illumina Company Profile
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.
Further Reading: Accumulation/Distribution
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