Illumina (NASDAQ:ILMN) PT Raised to $340.00 at Wells Fargo & Company

Illumina (NASDAQ:ILMN) had its price objective boosted by investment analysts at Wells Fargo & Company from $330.00 to $340.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “underweight” rating on the life sciences company’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 12.01% from the company’s current price.

Several other equities analysts have also recently issued reports on ILMN. Zacks Investment Research upgraded Illumina from a “hold” rating to a “buy” rating and set a $420.00 price objective for the company in a research note on Friday. Atlantic Securities cut Illumina from an “overweight” rating to a “neutral” rating and set a $390.00 target price for the company. in a research note on Wednesday, March 31st. Piper Sandler boosted their target price on Illumina from $415.00 to $510.00 and gave the stock an “overweight” rating in a research note on Friday, February 12th. Barclays assumed coverage on Illumina in a research note on Monday, March 8th. They set an “underweight” rating and a $325.00 target price for the company. Finally, BTIG Research boosted their target price on Illumina from $410.00 to $570.00 and gave the stock a “buy” rating in a research note on Tuesday, February 16th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $376.89.

Shares of Illumina stock opened at $386.40 on Tuesday. The business has a 50-day moving average of $403.13 and a 200 day moving average of $380.77. Illumina has a 12 month low of $260.42 and a 12 month high of $555.77. The stock has a market capitalization of $56.41 billion, a price-to-earnings ratio of 89.65, a price-to-earnings-growth ratio of 9.83 and a beta of 1.14. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.88 and a quick ratio of 3.51.

Illumina (NASDAQ:ILMN) last announced its earnings results on Tuesday, April 27th. The life sciences company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.53. Illumina had a return on equity of 15.93% and a net margin of 19.70%. During the same quarter in the previous year, the business posted $1.64 earnings per share. Equities research analysts anticipate that Illumina will post 4.39 earnings per share for the current year.

In related news, SVP Susan H. Tousi sold 800 shares of the stock in a transaction dated Friday, March 5th. The stock was sold at an average price of $402.24, for a total value of $321,792.00. Following the completion of the transaction, the senior vice president now owns 44,943 shares of the company’s stock, valued at $18,077,872.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Charles Dadswell sold 314 shares of the stock in a transaction dated Thursday, April 22nd. The shares were sold at an average price of $402.02, for a total value of $126,234.28. Following the completion of the transaction, the senior vice president now directly owns 6,518 shares of the company’s stock, valued at approximately $2,620,366.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,428 shares of company stock valued at $5,564,046. Insiders own 0.38% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in ILMN. IHT Wealth Management LLC bought a new position in Illumina during the 3rd quarter worth approximately $242,000. Mercer Global Advisors Inc. ADV lifted its holdings in Illumina by 13.9% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 2,598 shares of the life sciences company’s stock worth $803,000 after buying an additional 317 shares during the last quarter. Capital Investment Services of America Inc. lifted its holdings in Illumina by 6.4% during the 4th quarter. Capital Investment Services of America Inc. now owns 50,320 shares of the life sciences company’s stock worth $18,618,000 after buying an additional 3,021 shares during the last quarter. Deane Retirement Strategies Inc. bought a new stake in shares of Illumina in the 4th quarter worth approximately $1,639,000. Finally, Carroll Financial Associates Inc. bought a new stake in shares of Illumina in the 4th quarter worth approximately $31,000. 89.97% of the stock is currently owned by institutional investors.

Illumina Company Profile

Illumina, Inc provides sequencing and array-based solutions for genetic and genomic analysis. Its products and services serve customers in a range of markets enabling the adoption of genomic solutions in research and clinical settings for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments.

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Analyst Recommendations for Illumina (NASDAQ:ILMN)

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