Illumina (NASDAQ:ILMN – Get Free Report) was upgraded by analysts at Sanford C. Bernstein to a “hold” rating in a report issued on Thursday,Zacks.com reports.
Several other research firms also recently weighed in on ILMN. JPMorgan Chase & Co. raised shares of Illumina from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $125.00 to $185.00 in a research report on Wednesday, June 10th. Guggenheim increased their price target on shares of Illumina from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Daiwa Securities Group upgraded Illumina from a “neutral” rating to an “outperform” rating and set a $155.00 price target for the company in a research note on Thursday, May 14th. Evercore restated an “outperform” rating on shares of Illumina in a research note on Friday, May 1st. Finally, Weiss Ratings raised Illumina from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 3rd. Eight research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $146.00.
Read Our Latest Report on ILMN
Illumina Stock Down 0.6%
Illumina (NASDAQ:ILMN – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The life sciences company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.10. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Illumina had a net margin of 19.42% and a return on equity of 31.01%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 earnings per share. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. On average, equities research analysts predict that Illumina will post 5.21 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, SVP Patricia Leckman sold 783 shares of Illumina stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $162.59, for a total value of $127,307.97. Following the completion of the transaction, the senior vice president directly owned 21,259 shares of the company’s stock, valued at approximately $3,456,500.81. The trade was a 3.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christensen Jakob Wedel sold 700 shares of Illumina stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $139.04, for a total transaction of $97,328.00. Following the completion of the transaction, the senior vice president directly owned 15,056 shares of the company’s stock, valued at $2,093,386.24. This trade represents a 4.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,003,769 shares of company stock worth $155,710,908. Company insiders own 2.90% of the company’s stock.
Hedge Funds Weigh In On Illumina
Several institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC raised its position in shares of Illumina by 113.7% during the 1st quarter. Empowered Funds LLC now owns 9,284 shares of the life sciences company’s stock worth $737,000 after purchasing an additional 4,940 shares during the period. Sivia Capital Partners LLC acquired a new position in Illumina during the 2nd quarter valued at approximately $621,000. CW Advisors LLC acquired a new position in Illumina during the 2nd quarter valued at approximately $275,000. Marshall Wace LLP grew its stake in Illumina by 49.0% during the 2nd quarter. Marshall Wace LLP now owns 59,645 shares of the life sciences company’s stock worth $5,691,000 after buying an additional 19,618 shares during the last quarter. Finally, Cresset Asset Management LLC grew its stake in Illumina by 30.9% during the 2nd quarter. Cresset Asset Management LLC now owns 7,404 shares of the life sciences company’s stock worth $706,000 after buying an additional 1,748 shares during the last quarter. 89.42% of the stock is owned by institutional investors.
About Illumina
Illumina, Inc (NASDAQ: ILMN) is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.
The company’s product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.
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