Illumina (NASDAQ:ILMN) Stock Rating Upgraded by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. upgraded Illumina from “neutral” to “overweight” and raised its price target to $185 from $125, implying about 15.6% upside from the current share price.
• Other analysts remain mixed on ILMN, with the stock carrying a consensus “Hold” rating and an average price target of $142.13 across Wall Street.
• Illumina recently reported better-than-expected quarterly results, including EPS of $1.15 versus $1.05 estimated and revenue of $1.09 billion, while insiders have also been active sellers in recent months.

Illumina (NASDAQ:ILMN - Get Free Report) was upgraded by equities research analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $185.00 target price on the life sciences company's stock, up from their previous target price of $125.00. JPMorgan Chase & Co.'s price objective indicates a potential upside of 15.60% from the company's current price.

A number of other equities analysts have also issued reports on ILMN. Citigroup raised their price target on shares of Illumina from $80.00 to $95.00 and gave the stock a "sell" rating in a research report on Monday, May 4th. Guggenheim raised their target price on shares of Illumina from $170.00 to $180.00 and gave the stock a "buy" rating in a report on Monday, June 1st. Canaccord Genuity Group lowered their price target on shares of Illumina from $150.00 to $140.00 and set a "hold" rating on the stock in a report on Friday, May 1st. Wall Street Zen downgraded Illumina from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 9th. Finally, Evercore reissued an "outperform" rating on shares of Illumina in a report on Friday, May 1st. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $142.13.

Illumina Stock Performance

Shares of ILMN opened at $160.03 on Wednesday. The stock has a 50-day moving average of $139.27 and a two-hundred day moving average of $134.20. Illumina has a one year low of $85.00 and a one year high of $177.22. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.36 and a current ratio of 1.75. The stock has a market cap of $24.21 billion, a P/E ratio of 29.10, a P/E/G ratio of 2.96 and a beta of 1.50.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The life sciences company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.10. Illumina had a return on equity of 31.01% and a net margin of 19.42%.The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the business earned $0.97 EPS. The company's quarterly revenue was up 4.8% compared to the same quarter last year. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. As a group, research analysts predict that Illumina will post 5.2 EPS for the current year.

Insider Buying and Selling

In other Illumina news, Director Keith A. Meister sold 235,000 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $163.63, for a total value of $38,453,050.00. Following the completion of the transaction, the director owned 2,830,452 shares in the company, valued at approximately $463,146,860.76. This represents a 7.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Scott D. Ericksen sold 1,500 shares of the firm's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $150.10, for a total value of $225,150.00. Following the sale, the chief accounting officer owned 14,946 shares in the company, valued at $2,243,394.60. This trade represents a 9.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,003,154 shares of company stock valued at $155,600,208 in the last ninety days. Company insiders own 2.90% of the company's stock.

Hedge Funds Weigh In On Illumina

A number of large investors have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB lifted its stake in Illumina by 7.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,081 shares of the life sciences company's stock valued at $142,000 after buying an additional 79 shares in the last quarter. HighPoint Advisor Group LLC lifted its position in shares of Illumina by 3.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,218 shares of the life sciences company's stock valued at $291,000 after acquiring an additional 80 shares in the last quarter. Meeder Advisory Services Inc. boosted its stake in shares of Illumina by 3.1% in the first quarter. Meeder Advisory Services Inc. now owns 2,822 shares of the life sciences company's stock worth $348,000 after acquiring an additional 85 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Illumina by 0.3% during the fourth quarter. Toronto Dominion Bank now owns 33,605 shares of the life sciences company's stock worth $4,407,000 after purchasing an additional 92 shares in the last quarter. Finally, Assetmark Inc. raised its stake in Illumina by 10.2% in the 3rd quarter. Assetmark Inc. now owns 1,039 shares of the life sciences company's stock valued at $99,000 after purchasing an additional 96 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.