Royal Bank of Canada reissued their outperform rating on shares of Illumina (NASDAQ:ILMN – Free Report) in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has a $258.00 target price on the life sciences company’s stock.
Several other research firms have also commented on ILMN. Wolfe Research began coverage on shares of Illumina in a report on Wednesday, December 13th. They issued an outperform rating and a $175.00 price target on the stock. Guggenheim began coverage on shares of Illumina in a research note on Thursday, December 14th. They set a buy rating and a $155.00 target price on the stock. Barclays increased their target price on shares of Illumina from $50.00 to $80.00 and gave the stock an underweight rating in a research note on Thursday, January 25th. HSBC lowered shares of Illumina from a buy rating to a hold rating in a research note on Tuesday, January 16th. Finally, StockNews.com raised shares of Illumina from a hold rating to a buy rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $166.95.
Illumina Price Performance
Illumina (NASDAQ:ILMN – Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The life sciences company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.01 by $0.13. Illumina had a negative net margin of 25.20% and a positive return on equity of 2.13%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the company earned $0.14 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. Research analysts expect that Illumina will post 0.76 EPS for the current year.
Institutional Trading of Illumina
A number of hedge funds have recently bought and sold shares of ILMN. Acadian Asset Management LLC raised its holdings in Illumina by 312.5% in the 1st quarter. Acadian Asset Management LLC now owns 2,013 shares of the life sciences company’s stock valued at $702,000 after acquiring an additional 1,525 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Illumina by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 237,118 shares of the life sciences company’s stock valued at $82,853,000 after acquiring an additional 7,114 shares during the last quarter. Dakota Wealth Management raised its holdings in Illumina by 13.8% in the 1st quarter. Dakota Wealth Management now owns 826 shares of the life sciences company’s stock valued at $288,000 after acquiring an additional 100 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Illumina by 16.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 803 shares of the life sciences company’s stock worth $281,000 after buying an additional 116 shares during the last quarter. Finally, Baird Financial Group Inc. increased its holdings in shares of Illumina by 10.2% during the 1st quarter. Baird Financial Group Inc. now owns 48,943 shares of the life sciences company’s stock worth $17,108,000 after buying an additional 4,548 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.
Illumina, Inc develops, manufactures, and markets life science tools and integrated systems for large-scale analysis of genetic variation and function. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; and whole-genome sequencing kits, which sequence entire genomes of any size and complexity, and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.
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