Illumina (NASDAQ:ILMN) Upgraded to “Buy” at Guggenheim

Guggenheim upgraded shares of Illumina (NASDAQ:ILMN) from a neutral rating to a buy rating in a research report released on Monday, Benzinga reports. They currently have $345.00 target price on the life sciences company’s stock.

Several other analysts have also issued reports on ILMN. SVB Leerink reduced their price objective on shares of Illumina from $370.00 to $360.00 and set an outperform rating on the stock in a report on Friday, August 7th. Morgan Stanley initiated coverage on shares of Illumina in a research note on Wednesday, September 9th. They set an equal weight rating and a $400.00 price target on the stock. Evercore ISI lowered shares of Illumina from an in-line rating to an underperform rating and set a $310.00 price target on the stock. in a research note on Friday, August 7th. BidaskClub lowered shares of Illumina from a buy rating to a hold rating in a research note on Friday, September 18th. Finally, Argus reiterated a reduce rating and set a $380.00 price target on shares of Illumina in a research note on Friday, September 11th. Four 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 has an average rating of Hold and a consensus target price of $326.21.

Shares of ILMN opened at $286.31 on Monday. The firm has a market cap of $41.80 billion, a P/E ratio of 61.18, a price-to-earnings-growth ratio of 11.52 and a beta of 0.88. Illumina has a 12-month low of $196.78 and a 12-month high of $404.20. The company’s 50-day moving average price is $342.60 and its 200 day moving average price is $331.92. 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 issued its quarterly earnings data on Thursday, August 6th. The life sciences company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). The company had revenue of $633.00 million during the quarter, compared to analysts’ expectations of $682.07 million. Illumina had a net margin of 20.67% and a return on equity of 19.13%. The firm’s quarterly revenue was down 24.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.35 earnings per share. Equities research analysts forecast that Illumina will post 4.39 earnings per share for the current year.

In related news, SVP Susan H. Tousi sold 300 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $375.00, for a total value of $112,500.00. Following the completion of the transaction, the senior vice president now directly owns 46,854 shares of the company’s stock, valued at $17,570,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jay T. Flatley sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $355.22, for a total value of $1,420,880.00. Following the completion of the transaction, the director now directly owns 210,933 shares of the company’s stock, valued at $74,927,620.26. The disclosure for this sale can be found here. Insiders sold 30,302 shares of company stock valued at $11,158,289 over the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of ILMN. Copper Rock Capital Partners LLC boosted its holdings in shares of Illumina by 6,236.4% in the second quarter. Copper Rock Capital Partners LLC now owns 2,336,418 shares of the life sciences company’s stock valued at $767,343,000 after acquiring an additional 2,299,545 shares during the period. Loomis Sayles & Co. L P acquired a new stake in shares of Illumina in the first quarter valued at approximately $320,139,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Illumina by 35.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,140,168 shares of the life sciences company’s stock valued at $311,404,000 after acquiring an additional 295,532 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Illumina by 250.6% in the first quarter. Janus Henderson Group PLC now owns 377,010 shares of the life sciences company’s stock valued at $102,965,000 after acquiring an additional 269,464 shares during the period. Finally, GUARDCAP ASSET MANAGEMENT Ltd boosted its holdings in shares of Illumina by 86.4% in the first quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 457,576 shares of the life sciences company’s stock valued at $124,973,000 after acquiring an additional 212,133 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Illumina (NASDAQ:ILMN)

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