Illumina (NASDAQ:ILMN) Lowered to Sell at BidaskClub

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BidaskClub cut shares of Illumina (NASDAQ:ILMN) from a hold rating to a sell rating in a research note issued to investors on Friday, BidAskClub reports.

A number of other research firms also recently weighed in on ILMN. Deutsche Bank cut their target price on Illumina from $290.00 to $280.00 and set a hold rating for the company in a research report on Friday, July 12th. Argus decreased their price target on Illumina to $340.00 and set a buy rating for the company in a research note on Thursday, July 18th. Bank of America cut Illumina from a buy rating to an underperform rating and set a $310.00 price target on the stock. in a research report on Friday, July 12th. ValuEngine downgraded Illumina from a buy rating to a hold rating in a research note on Thursday, September 5th. Finally, UBS Group upped their price objective on Illumina from $350.00 to $355.00 and gave the company a buy rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. Illumina presently has a consensus rating of Buy and an average price target of $330.92.

ILMN stock opened at $266.84 on Friday. Illumina has a 52 week low of $265.41 and a 52 week high of $380.76. The company has a market capitalization of $39.95 billion, a price-to-earnings ratio of 46.65, a price-to-earnings-growth ratio of 2.53 and a beta of 1.09. The firm’s 50-day moving average is $288.30 and its two-hundred day moving average is $314.00. The company has a current ratio of 6.79, a quick ratio of 6.10 and a debt-to-equity ratio of 0.42.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data 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 net margin of 27.56% and a return on equity of 21.73%. The business had revenue of $838.00 million during the quarter, compared to analysts’ expectations of $835.12 million. During the same period last year, the firm posted $1.43 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. On average, equities research analysts predict that Illumina will post 6.04 earnings per share for the current year.

In other news, Director Jay T. Flatley sold 3,300 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $334.53, for a total transaction of $1,103,949.00. Following the completion of the sale, the director now directly owns 279,216 shares of the company’s stock, valued at approximately $93,406,128.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Charles Dadswell sold 1,220 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $279.88, for a total value of $341,453.60. Following the sale, the senior vice president now directly owns 5,386 shares of the company’s stock, valued at $1,507,433.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,498 shares of company stock worth $18,877,419. 0.38% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of ILMN. Baillie Gifford & Co. boosted its position in shares of Illumina by 5.0% in the 2nd quarter. Baillie Gifford & Co. now owns 16,775,175 shares of the life sciences company’s stock valued at $6,175,781,000 after purchasing an additional 799,884 shares during the period. Jennison Associates LLC boosted its holdings in shares of Illumina by 5.2% in the second quarter. Jennison Associates LLC now owns 5,976,219 shares of the life sciences company’s stock worth $2,200,145,000 after buying an additional 296,541 shares during the period. Edgewood Management LLC boosted its holdings in shares of Illumina by 1.1% in the second quarter. Edgewood Management LLC now owns 4,157,827 shares of the life sciences company’s stock worth $1,530,704,000 after buying an additional 46,899 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Illumina by 67,829.8% in the second quarter. Nuveen Asset Management LLC now owns 2,260,705 shares of the life sciences company’s stock worth $832,279,000 after buying an additional 2,257,377 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Illumina by 10.1% in the fourth quarter. Geode Capital Management LLC now owns 1,854,346 shares of the life sciences company’s stock worth $555,173,000 after acquiring an additional 170,046 shares in the last quarter. Institutional investors and hedge funds own 90.92% of the company’s stock.

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.

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