Piper Jaffray Companies set a $348.00 target price on Illumina (NASDAQ:ILMN) in a research report sent to investors on Friday, TipRanks reports. The brokerage currently has a buy rating on the life sciences company’s stock.
Several other research firms have also commented on ILMN. Argus upped their price target on shares of Illumina from $300.00 to $340.00 and gave the company a buy rating in a report on Wednesday, September 25th. ValuEngine raised shares of Illumina from a hold rating to a buy rating in a report on Thursday, September 12th. BidaskClub raised shares of Illumina from a sell rating to a hold rating in a report on Friday, September 13th. Deutsche Bank lowered their price target on shares of Illumina from $290.00 to $280.00 and set a hold rating on the stock in a report on Friday, July 12th. Finally, Credit Suisse Group reaffirmed a buy rating and issued a $340.00 price target on shares of Illumina in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $330.92.
Shares of NASDAQ ILMN traded up $2.94 during mid-day trading on Friday, hitting $304.22. The stock had a trading volume of 511,821 shares, compared to its average volume of 1,045,915. The company has a debt-to-equity ratio of 0.42, a quick ratio of 6.10 and a current ratio of 6.79. The company has a 50 day moving average of $289.22 and a two-hundred day moving average of $313.61. Illumina has a twelve month low of $263.30 and a twelve month high of $380.76. The firm has a market cap of $44.29 billion, a PE ratio of 53.19, a PEG ratio of 2.98 and a beta of 1.09.
Illumina (NASDAQ:ILMN) last released its earnings results on Monday, July 29th. The life sciences company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.03. Illumina had a return on equity of 21.73% and a net margin of 27.56%. The firm had revenue of $838.00 million for the quarter, compared to the consensus estimate of $835.12 million. During the same period in the prior year, the firm earned $1.43 EPS. The firm’s revenue was up 1.0% on a year-over-year basis. Equities research analysts predict that Illumina will post 6.04 EPS for the current fiscal year.
In other news, SVP Charles Dadswell sold 124 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $300.00, for a total transaction of $37,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Mostafa Ronaghi sold 10,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $300.53, for a total transaction of $3,005,300.00. Following the sale, the senior vice president now directly owns 86,585 shares in the company, valued at $26,021,390.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,774 shares of company stock worth $14,949,385. Corporate insiders own 0.38% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Pinnacle Associates Ltd. acquired a new position in shares of Illumina during the 1st quarter worth about $205,000. CIBC Private Wealth Group LLC raised its position in shares of Illumina by 44.7% during the 1st quarter. CIBC Private Wealth Group LLC now owns 22,666 shares of the life sciences company’s stock worth $7,042,000 after purchasing an additional 7,007 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Illumina by 7.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,230 shares of the life sciences company’s stock worth $382,000 after purchasing an additional 87 shares during the last quarter. Xact Kapitalforvaltning AB raised its position in shares of Illumina by 5.5% during the 1st quarter. Xact Kapitalforvaltning AB now owns 29,290 shares of the life sciences company’s stock worth $9,100,000 after purchasing an additional 1,535 shares during the last quarter. Finally, Azimuth Capital Management LLC raised its position in shares of Illumina by 4.2% during the 1st quarter. Azimuth Capital Management LLC now owns 31,119 shares of the life sciences company’s stock worth $9,668,000 after purchasing an additional 1,253 shares during the last quarter. 90.90% 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.
Featured Story: How to Invest in Growth Stocks
Receive News & Ratings for Illumina Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illumina and related companies with MarketBeat.com's FREE daily email newsletter.