Canaccord Genuity Group Lowers Illumina (NASDAQ:ILMN) Price Target to $520.00

Illumina (NASDAQ:ILMNGet Rating) had its price target cut by stock analysts at Canaccord Genuity Group from $555.00 to $520.00 in a report released on Friday, The Fly reports. The brokerage presently has a “buy” rating on the life sciences company’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 104.97% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. Robert W. Baird lowered their target price on shares of Illumina from $437.00 to $380.00 in a research note on Friday, February 11th. Cowen dropped their price target on Illumina from $506.00 to $492.00 in a research note on Friday. OTR Global raised shares of Illumina from a “mixed” rating to a “positive” rating in a research report on Tuesday, March 29th. Piper Sandler boosted their price target on shares of Illumina from $450.00 to $460.00 and gave the company an “overweight” rating in a research report on Tuesday, February 15th. Finally, Stifel Nicolaus upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $480.00 price target for the company in a research report on Tuesday, January 18th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $440.77.

ILMN traded down $38.03 during trading hours on Friday, reaching $253.69. The company’s stock had a trading volume of 39,281 shares, compared to its average volume of 726,629. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.09 and a current ratio of 2.48. The company’s 50-day moving average is $332.29 and its 200-day moving average is $359.37. Illumina has a 52 week low of $287.73 and a 52 week high of $526.00. The firm has a market cap of $39.85 billion, a PE ratio of 50.11, a price-to-earnings-growth ratio of 2.33 and a beta of 0.99.

Illumina (NASDAQ:ILMNGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The life sciences company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.20. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Illumina had a net margin of 16.82% and a return on equity of 11.35%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.89 EPS. Equities analysts anticipate that Illumina will post 4.14 earnings per share for the current fiscal year.

In other Illumina news, SVP Phillip G. Febbo sold 1,988 shares of the business’s stock in a transaction on Wednesday, April 6th. The stock was sold at an average price of $360.01, for a total transaction of $715,699.88. Following the sale, the senior vice president now directly owns 5,774 shares in the company, valued at $2,078,697.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Aimee L. Hoyt sold 2,474 shares of the firm’s stock in a transaction on Tuesday, April 12th. The stock was sold at an average price of $350.51, for a total value of $867,161.74. Following the transaction, the senior vice president now directly owns 5,342 shares of the company’s stock, valued at approximately $1,872,424.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,198 shares of company stock worth $1,819,471. Corporate insiders own 0.13% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Biondo Investment Advisors LLC raised its stake in Illumina by 5.2% during the third quarter. Biondo Investment Advisors LLC now owns 40,861 shares of the life sciences company’s stock worth $16,574,000 after purchasing an additional 2,003 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in Illumina by 39.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 10,628 shares of the life sciences company’s stock worth $4,043,000 after buying an additional 3,009 shares during the period. CHICAGO TRUST Co NA increased its position in shares of Illumina by 7.1% in the fourth quarter. CHICAGO TRUST Co NA now owns 1,890 shares of the life sciences company’s stock worth $719,000 after acquiring an additional 125 shares in the last quarter. NS Partners Ltd boosted its position in Illumina by 0.8% during the 3rd quarter. NS Partners Ltd now owns 39,759 shares of the life sciences company’s stock worth $16,127,000 after purchasing an additional 302 shares during the period. Finally, Capital Fund Management S.A. acquired a new stake in Illumina in the 3rd quarter valued at $20,974,000. Institutional investors own 86.62% of the company’s stock.

Illumina Company Profile (Get Rating)

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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