Illumina (NASDAQ:ILMN) Price Target Reduced to $215.00


Illumina (NASDAQ: ILMN – Get a review) saw its price target reduced by equity researchers Robert W. Baird from $306.00 to $215.00 in a report on Friday, reports The Fly. Robert W. Baird’s target price indicates a potential upside of 3.20% from the company’s current price.

The ILMN has been the subject of a number of other reports. Piper Sandler cut her price target on Illumina shares from $460.00 to $360.00 and set an “na” rating for the company in a Sunday, May 15 research note. Citigroup reduced its target price on Illumina shares from $325.00 to $220.00 and set a “neutral” rating for the company in a Friday, July 8 research note. Cowen set a target price of $412.00 on Illumina stock in a Tuesday, July 19 research note. Barclays cut Illumina shares from an ‘equal weight’ rating to an ‘underweight’ rating and cut its target price for the company from $350.00 to $150.00 in a research note Wednesday, July 13. Finally, Canaccord Genuity Group cut its target price on Illumina shares from $555.00 to $520.00 and set a “buy” rating for the company in a Friday, May 6 research note. One financial analyst gave the stock a sell rating, six gave the stock a hold rating and four gave the stock a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $284.45.

Illumina stock down 8.4%

Shares of ILMN opened at $208.33 on Friday. Illumina has a 12 month minimum of $173.45 and a 12 month maximum of $526.00. The stock has a market capitalization of $32.73 billion, a P/E ratio of -3,471.50, a P/E/G ratio of 1.78 and a beta of 1.15. The company has a current ratio of 1.85, a quick ratio of 1.54 and a debt ratio of 0.11. The company has a 50-day simple moving average of $201.93 and a two-hundred-day simple moving average of $274.15.

Illumina (NASDAQ:ILMN – Get Rating) last reported quarterly earnings data on Thursday, August 11. The life sciences company reported earnings per share (EPS) of $0.57 for the quarter, missing analyst consensus estimates of $0.63 per ($0.06). The company posted revenue of $1.16 billion in the quarter, versus $1.22 billion expected by analysts. Illumina had a positive return on equity of 5.57% and a negative net margin of 0.43%. The company’s revenue for the quarter increased 3.2% year over year. During the same period last year, the company earned earnings per share of $1.87. On average, research analysts expect Illumina to post earnings per share of 4.09 for the current year.

Insider Trading at Illumina

Separately, SVP Alexander Aravanis sold 539 shares of the company in a transaction dated Thursday, July 7. The shares were sold at an average price of $200.00, for a total value of $107,800.00. Following the completion of the sale, the senior vice president now owns 3,346 shares of the company, valued at approximately $669,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via this hyperlink. Separately, SVP Alexander Aravanis sold 539 shares of the company in a transaction dated Thursday, July 7. The shares were sold at an average price of $200.00, for a total value of $107,800.00. Following the completion of the sale, the senior vice president now owns 3,346 shares of the company, valued at approximately $669,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, SVP Susan H. Tousi sold 250 shares of Illumina in a trade dated Friday, June 10. The shares were sold at an average price of $214.85, for a total transaction of $53,712.50. Following the sale, the senior vice president now owns 41,833 shares of the company, valued at approximately $8,987,820.05. The disclosure of this sale can be found here. Insiders of the company hold 0.13% of the shares of the company.

Institutional investors weigh in on Illumina

A number of institutional investors and hedge funds have recently increased or reduced their stake in ILMN. Glassman Wealth Services increased its stake in Illumina by 72.9% during the second quarter. Glassman Wealth Services now owns 147 shares of the life sciences company valued at $27,000 after buying 62 more shares last quarter. Asset Dedication LLC increased its position in Illumina by 75.0% during the 1st quarter. Asset Dedication LLC now owns 77 shares of the life sciences company valued at $28,000 after buying 33 additional shares during the period. Farmers & Merchants Investments Inc. bought a new position in Illumina during Q1 worth approximately $30,000. Tcwp LLC bought a new position in Illumina during Q1 worth approximately $31,000. Finally, WASHINGTON TRUST Co bought a new position in Illumina during Q1 worth approximately $35,000. Institutional investors hold 86.62% of the company’s shares.

Illumina Company Profile

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

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Richard L. Militello