Illumina (NASDAQ:ILMN) Cut to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Illumina (NASDAQ:ILMN) from an overweight rating to a neutral rating in a report published on Monday morning, Briefing.com reports. They currently have $280.00 target price on the life sciences company’s stock, down from their prior target price of $390.00.

Other research analysts also recently issued research reports about the stock. Piper Sandler downgraded shares of Illumina from an overweight rating to a neutral rating and decreased their price objective for the company from $356.00 to $340.00 in a research report on Friday, August 7th. TheStreet downgraded shares of Illumina from a b rating to a c+ rating in a research report on Thursday, August 6th. Morgan Stanley assumed coverage on shares of Illumina in a research report on Wednesday, September 9th. They issued an equal weight rating and a $400.00 price objective for the company. SVB Leerink reduced their target price on shares of Illumina from $370.00 to $360.00 and set an outperform rating for the company in a report on Friday, August 7th. Finally, Guggenheim raised shares of Illumina from a neutral rating to a buy rating and set a $345.00 target price for the company in a report on Monday. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. Illumina currently has a consensus rating of Hold and a consensus price target of $326.21.

Shares of ILMN stock opened at $286.31 on Monday. The firm’s fifty day moving average price is $342.60 and its two-hundred day moving average price is $331.92. Illumina has a 1 year low of $196.78 and a 1 year high of $404.20. The firm has a market capitalization of $41.80 billion, a P/E ratio of 61.18, a PEG ratio of 11.52 and a beta of 0.88. The company has a current ratio of 3.76, a quick ratio of 3.37 and a debt-to-equity ratio of 0.14.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Thursday, August 6th. The life sciences company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Illumina had a net margin of 20.67% and a return on equity of 19.13%. The firm had revenue of $633.00 million during the quarter, compared to the consensus estimate of $682.07 million. During the same period last year, the business earned $1.35 EPS. The business’s revenue was down 24.5% on a year-over-year basis. As a group, equities research analysts forecast that Illumina will post 4.39 EPS for the current fiscal year.

In other news, SVP Susan H. Tousi sold 100 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $336.00, for a total value of $33,600.00. Following the completion of the transaction, the senior vice president now directly owns 45,468 shares in the company, valued at approximately $15,277,248. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Karen K. Mcginnis sold 1,856 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $357.01, for a total transaction of $662,610.56. Following the completion of the transaction, the chief accounting officer now owns 2,350 shares of the company’s stock, valued at $838,973.50. The disclosure for this sale can be found here. Insiders sold a total of 30,302 shares of company stock valued at $11,158,289 in the last quarter. Corporate insiders own 0.38% of the company’s stock.

Several large investors have recently modified their holdings of the company. Mastrapasqua Asset Management Inc. raised its position in shares of Illumina by 0.5% in the 2nd quarter. Mastrapasqua Asset Management Inc. now owns 5,548 shares of the life sciences company’s stock valued at $2,055,000 after buying an additional 27 shares in the last quarter. Meridian Management Co. raised its position in shares of Illumina by 0.3% in the 2nd quarter. Meridian Management Co. now owns 9,152 shares of the life sciences company’s stock valued at $3,389,000 after buying an additional 30 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Illumina by 9.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 334 shares of the life sciences company’s stock valued at $122,000 after buying an additional 30 shares in the last quarter. Valeo Financial Advisors LLC raised its position in shares of Illumina by 49.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 97 shares of the life sciences company’s stock valued at $36,000 after buying an additional 32 shares in the last quarter. Finally, Appleton Partners Inc. MA increased its position in Illumina by 0.5% during the 2nd quarter. Appleton Partners Inc. MA now owns 6,966 shares of the life sciences company’s stock worth $2,580,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 92.89% 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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