Illumina (NASDAQ:ILMN) Price Target Raised to $140.00

Illumina (NASDAQ:ILMN) had its price target lifted by TD Cowen from $115.00 to $140.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a hold rating on the life sciences company’s stock.

A number of other analysts have also weighed in on ILMN. Barclays raised their target price on Illumina from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Monday, December 15th. UBS Group boosted their price objective on shares of Illumina from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, October 31st. JPMorgan Chase & Co. lifted their price objective on Illumina from $105.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, December 15th. Wall Street Zen downgraded Illumina from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Illumina in a research note on Monday, December 29th. Five analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Illumina has a consensus rating of “Hold” and a consensus target price of $122.56.

Illumina Stock Performance

ILMN stock opened at $141.07 on Wednesday. Illumina has a 52 week low of $68.70 and a 52 week high of $153.06. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.12 and a current ratio of 1.43. The stock has a market cap of $21.56 billion, a P/E ratio of 31.63, a P/E/G ratio of 2.43 and a beta of 1.41. The firm has a 50 day simple moving average of $130.01 and a 200 day simple moving average of $109.64.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, October 30th. The life sciences company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.16 by $0.18. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.07 billion. Illumina had a net margin of 16.40% and a return on equity of 29.21%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.14 earnings per share. Illumina has set its FY 2025 guidance at 4.650-4.750 EPS. Research analysts anticipate that Illumina will post 4.51 earnings per share for the current fiscal year.

Insider Activity at Illumina

In other Illumina news, insider Scott M. Davies sold 323 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $136.09, for a total transaction of $43,957.07. Following the transaction, the insider directly owned 17,887 shares in the company, valued at approximately $2,434,241.83. This trade represents a 1.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Gottlieb purchased 500 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were acquired at an average price 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 of the company’s stock, valued at $1,529,433.99. This trade represents a 4.16% increase in their position. The SEC filing for this purchase provides additional information. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Illumina

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Board of the Pension Protection Fund purchased a new position in shares of Illumina in the 4th quarter worth about $26,000. Parkside Financial Bank & Trust boosted its position in shares of Illumina by 65.7% during the second quarter. Parkside Financial Bank & Trust now owns 290 shares of the life sciences company’s stock valued at $28,000 after purchasing an additional 115 shares in the last quarter. Quent Capital LLC purchased a new position in Illumina during the 3rd quarter valued at about $29,000. Quarry LP purchased a new stake in shares of Illumina in the third quarter worth $32,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in Illumina in the third quarter worth about $33,000. 89.42% of the stock is currently owned by institutional investors.

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.