Stifel Nicolaus Begins Coverage on Illumina (NASDAQ:ILMN)

Stifel Nicolaus began coverage on shares of Illumina (NASDAQ:ILMN) in a report released on Thursday, Briefing.com Automated Import reports. The brokerage issued a buy rating and a $345.00 target price on the life sciences company’s stock.

Several other equities research analysts have also recently weighed in on ILMN. Piper Jaffray Companies reduced their target price on shares of Illumina from $348.00 to $341.00 and set an overweight rating for the company in a research note on Friday, October 25th. Canaccord Genuity increased their target price on shares of Illumina from $300.00 to $310.00 and gave the company a hold rating in a research note on Friday, October 25th. Credit Suisse Group reiterated a buy rating and issued a $340.00 target price on shares of Illumina in a research note on Wednesday, July 31st. UBS Group increased their target price on shares of Illumina from $350.00 to $355.00 and gave the company a buy rating in a research note on Tuesday, July 30th. Finally, Guggenheim began coverage on shares of Illumina in a research note on Friday, October 25th. They issued a buy rating and a $350.00 target price for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $334.21.

Shares of NASDAQ:ILMN traded up $7.54 during trading on Thursday, hitting $305.98. 744,700 shares of the company traded hands, compared to its average volume of 1,070,490. The company has a quick ratio of 6.15, a current ratio of 6.82 and a debt-to-equity ratio of 0.41. Illumina has a one year low of $263.30 and a one year high of $380.76. The business’s fifty day moving average is $301.21 and its 200-day moving average is $310.03. The stock has a market capitalization of $43.87 billion, a price-to-earnings ratio of 53.49, a PEG ratio of 2.21 and a beta of 1.03.

Illumina (NASDAQ:ILMN) last released its earnings results on Thursday, October 24th. The life sciences company reported $1.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.53. Illumina had a net margin of 28.14% and a return on equity of 22.05%. The business had revenue of $907.00 million during the quarter, compared to analysts’ expectations of $872.65 million. During the same quarter last year, the company earned $1.52 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. On average, analysts forecast that Illumina will post 6.45 EPS for the current year.

In related news, Director Jay T. Flatley sold 3,300 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $283.41, for a total value of $935,253.00. Following the completion of the transaction, the director now owns 262,733 shares of the company’s stock, valued at $74,461,159.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Charles Dadswell sold 193 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $297.28, for a total transaction of $57,375.04. Following the completion of the transaction, the senior vice president now directly owns 5,069 shares of the company’s stock, valued at approximately $1,506,912.32. The disclosure for this sale can be found here. Insiders sold 19,338 shares of company stock valued at $5,773,627 in the last three months. Company insiders own 0.38% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cetera Advisors LLC grew its stake in shares of Illumina by 5.4% during the third quarter. Cetera Advisors LLC now owns 679 shares of the life sciences company’s stock valued at $208,000 after purchasing an additional 35 shares during the last quarter. Broderick Brian C grew its stake in shares of Illumina by 0.3% during the second quarter. Broderick Brian C now owns 13,240 shares of the life sciences company’s stock valued at $4,874,000 after purchasing an additional 36 shares during the last quarter. Foresight Wealth Management LLC grew its stake in shares of Illumina by 4.2% during the second quarter. Foresight Wealth Management LLC now owns 972 shares of the life sciences company’s stock valued at $358,000 after purchasing an additional 39 shares during the last quarter. Bbva USA Bancshares Inc. grew its stake in shares of Illumina by 2.0% during the second quarter. Bbva USA Bancshares Inc. now owns 2,020 shares of the life sciences company’s stock valued at $743,000 after purchasing an additional 40 shares during the last quarter. Finally, Zeke Capital Advisors LLC grew its stake in shares of Illumina by 2.0% during the third quarter. Zeke Capital Advisors LLC now owns 2,044 shares of the life sciences company’s stock valued at $622,000 after purchasing an additional 40 shares during the last quarter. 91.14% of the stock is owned by 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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