Illumina (NASDAQ:ILMN) Price Target Cut to $320.00 by Analysts at Cowen

Illumina (NASDAQ:ILMN) had its price target reduced by Cowen from $380.00 to $320.00 in a research report sent to investors on Friday morning, The Fly reports. Cowen currently has an outperform rating on the life sciences company’s stock.

ILMN has been the topic of a number of other reports. Canaccord Genuity lifted their price target on Cogeco Communications from C$97.00 to C$104.00 and gave the company a buy rating in a research note on Friday. Deutsche Bank lifted their price target on Spirit Airlines from $75.00 to $79.00 and gave the company a buy rating in a research note on Friday. Zacks Investment Research downgraded GasLog Partners LP Unit from a hold rating to a strong sell rating in a research note on Tuesday, April 2nd. BidaskClub upgraded Zumiez from a sell rating to a hold rating in a research note on Saturday, June 22nd. Finally, Bank of America set a $80.00 price target on Colgate-Palmolive and gave the company a buy rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $341.15.

Shares of ILMN stock opened at $302.29 on Friday. The company has a 50 day moving average of $343.54. Illumina has a twelve month low of $268.62 and a twelve month high of $380.76. The stock has a market cap of $44.84 billion, a P/E ratio of 52.85, a P/E/G ratio of 2.12 and a beta of 1.15. The company has a quick ratio of 3.33, a current ratio of 3.66 and a debt-to-equity ratio of 0.27.



Illumina (NASDAQ:ILMN) last announced its earnings results on Thursday, April 25th. The life sciences company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.26. Illumina had a return on equity of 23.49% and a net margin of 25.06%. The company had revenue of $846.00 million for the quarter, compared to the consensus estimate of $838.70 million. During the same period last year, the business posted $1.45 EPS. The company’s revenue was up 8.2% on a year-over-year basis. Research analysts expect that Illumina will post 6.68 EPS for the current year.

In related news, Director Robert S. Epstein sold 5,000 shares of Illumina stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $310.44, for a total transaction of $1,552,200.00. Following the completion of the transaction, the director now directly owns 8,256 shares of the company’s stock, valued at $2,562,992.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Mostafa Ronaghi sold 10,000 shares of Illumina stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $305.49, for a total value of $3,054,900.00. Following the transaction, the senior vice president now directly owns 87,414 shares of the company’s stock, valued at $26,704,102.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,291 shares of company stock worth $19,459,234. Company insiders own 0.38% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Strategy Asset Managers LLC acquired a new position in shares of Illumina in the first quarter worth $26,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Illumina by 83.0% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 86 shares of the life sciences company’s stock worth $26,000 after acquiring an additional 39 shares during the last quarter. C J Advisory Inc acquired a new position in shares of Illumina in the first quarter worth $29,000. Lake Point Wealth Management acquired a new position in shares of Illumina in the fourth quarter worth $30,000. Finally, Sontag Advisory LLC acquired a new position in shares of Illumina in the fourth quarter worth $34,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

About Illumina

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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