Illumina (NASDAQ:ILMN) Given New $130.00 Price Target at Canaccord Genuity Group

Illumina (NASDAQ:ILMN) had its price objective hoisted by Canaccord Genuity Group from $112.00 to $130.00 in a research note published on Monday,Benzinga reports. The firm currently has a hold rating on the life sciences company’s stock.

Several other brokerages also recently commented on ILMN. Barclays upped their target price on shares of Illumina from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Monday, December 15th. TD Cowen boosted their price target on shares of Illumina from $110.00 to $115.00 and gave the company a “hold” rating in a report on Friday, October 31st. Robert W. Baird set a $109.00 price objective on shares of Illumina in a research report on Friday, October 31st. Cowen reaffirmed a “hold” rating on shares of Illumina in a research note on Friday, October 31st. Finally, JPMorgan Chase & Co. boosted their target price on Illumina from $105.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $118.31.

Illumina Price Performance

Shares of ILMN opened at $137.60 on Monday. The stock has a market cap of $21.03 billion, a P/E ratio of 30.85, a price-to-earnings-growth ratio of 2.41 and a beta of 1.44. Illumina has a 1 year low of $68.70 and a 1 year high of $153.06. The stock’s 50-day moving average price is $119.08 and its two-hundred day moving average price is $105.03. The company has a current ratio of 1.43, a quick ratio of 1.12 and a debt-to-equity ratio of 0.42.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Thursday, October 30th. The life sciences company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.18. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Illumina had a return on equity of 29.21% and a net margin of 16.40%.Illumina’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 EPS. Illumina has set its FY 2025 guidance at 4.650-4.750 EPS. On average, equities analysts predict that Illumina will post 4.51 earnings per share for the current year.

Insider Buying and Selling at Illumina

In other news, Director Scott Gottlieb purchased 500 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were bought at an average cost of $122.13 per share, for a total transaction of $61,065.00. Following the completion of the acquisition, the director directly owned 12,523 shares in the company, valued at approximately $1,529,433.99. This trade represents a 4.16% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott M. Davies sold 323 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $136.09, for a total value of $43,957.07. Following the transaction, the insider directly owned 17,887 shares of the company’s stock, valued at $2,434,241.83. This represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Illumina

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Next Capital Management LLC acquired a new position in shares of Illumina in the 2nd quarter valued at approximately $341,000. CWM LLC raised its position in Illumina by 112.9% during the second quarter. CWM LLC now owns 76,711 shares of the life sciences company’s stock valued at $7,319,000 after purchasing an additional 40,676 shares in the last quarter. Andra AP fonden lifted its stake in Illumina by 426.3% during the second quarter. Andra AP fonden now owns 102,491 shares of the life sciences company’s stock worth $9,779,000 after purchasing an additional 83,017 shares during the last quarter. Bourgeon Capital Management LLC boosted its holdings in shares of Illumina by 76.4% in the 2nd quarter. Bourgeon Capital Management LLC now owns 141,896 shares of the life sciences company’s stock valued at $13,538,000 after purchasing an additional 61,468 shares in the last quarter. Finally, Aaron Wealth Advisors LLC increased its stake in shares of Illumina by 342.6% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 10,476 shares of the life sciences company’s stock valued at $995,000 after purchasing an additional 8,109 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

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.