Illumina (NASDAQ:ILMN) Earns Overweight Rating from Piper Sandler

Key Points

• Piper Sandler reiterated its Overweight rating on Illumina and raised its price target to $225 from $200, implying 11.48% upside from the prior close.
• Analyst sentiment remains mixed: Illumina has a consensus rating of Hold from nine Buy, seven Hold and two Sell ratings, with an average price target of $177.82.
• Illumina exceeded quarterly expectations, reporting $1.31 in earnings per share versus $1.23 expected and $1.16 billion in revenue, up 9.4% year over year.

Illumina (NASDAQ:ILMN - Get Free Report)'s stock had its "overweight" rating restated by stock analysts at Piper Sandler in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $225.00 target price on the life sciences company's stock, up from their previous target price of $200.00. Piper Sandler's price objective points to a potential upside of 11.48% from the stock's previous close.

Other equities analysts have also recently issued research reports about the company. Daiwa Securities Group upgraded Illumina from a "neutral" rating to an "outperform" rating and set a $155.00 price target on the stock in a report on Thursday, May 14th. Citigroup reissued a "sell" rating on shares of Illumina in a research note on Monday. JPMorgan Chase & Co. raised their price objective on shares of Illumina from $220.00 to $230.00 and gave the company an "overweight" rating in a research note on Friday. Guggenheim raised their price target on Illumina from $200.00 to $226.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Evercore restated an "outperform" rating on shares of Illumina in a report on Monday, July 6th. Nine analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Illumina presently has a consensus rating of "Hold" and a consensus price target of $177.82.

Illumina Price Performance

Illumina stock traded down $3.27 on Monday, reaching $201.83. The company's stock had a trading volume of 677,179 shares, compared to its average volume of 1,894,287. The business's fifty day moving average price is $176.70 and its 200 day moving average price is $147.25. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.80. Illumina has a twelve month low of $88.00 and a twelve month high of $207.00. The company has a market cap of $30.54 billion, a price-to-earnings ratio of 37.72, a PEG ratio of 2.94 and a beta of 1.47.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its earnings results on Thursday, July 30th. The life sciences company reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.08. Illumina had a net margin of 18.36% and a return on equity of 29.84%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm posted $1.19 earnings per share. The company's revenue was up 9.4% on a year-over-year basis. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. Equities analysts expect that Illumina will post 5.37 earnings per share for the current fiscal year.

Insider Transactions at Illumina

In other Illumina news, insider Scott M. Davies sold 615 shares of Illumina stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $180.00, for a total value of $110,700.00. Following the sale, the insider owned 20,953 shares of the company's stock, valued at $3,771,540. This trade represents a 2.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Scott D. Ericksen sold 1,500 shares of the company's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $150.10, for a total value of $225,150.00. Following the transaction, the chief accounting officer directly owned 14,946 shares of the company's stock, valued at $2,243,394.60. This represents a 9.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,003,769 shares of company stock worth $155,710,908. Company insiders own 2.90% of the company's stock.

Hedge Funds Weigh In On Illumina

A number of large investors have recently modified their holdings of the business. Impact Partnership Wealth LLC raised its stake in Illumina by 235.8% in the first quarter. Impact Partnership Wealth LLC now owns 11,080 shares of the life sciences company's stock valued at $1,366,000 after buying an additional 7,780 shares during the period. SG Americas Securities LLC increased its holdings in shares of Illumina by 8.0% in the first quarter. SG Americas Securities LLC now owns 86,318 shares of the life sciences company's stock valued at $10,640,000 after purchasing an additional 6,425 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Illumina in the first quarter valued at $5,460,000. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in shares of Illumina by 27.4% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 348,011 shares of the life sciences company's stock valued at $45,645,000 after purchasing an additional 74,900 shares during the period. Finally, New York State Teachers Retirement System raised its position in shares of Illumina by 2.7% in the fourth quarter. New York State Teachers Retirement System now owns 149,638 shares of the life sciences company's stock valued at $19,627,000 after purchasing an additional 4,002 shares during the period. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Illumina Company Profile

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.

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