Morgan Stanley Reaffirms “Underweight” Rating for Illumina, Inc. (ILMN)

Morgan Stanley restated their underweight rating on shares of Illumina, Inc. (NASDAQ:ILMN) in a research note published on Monday morning. Morgan Stanley currently has a $115.00 target price on the life sciences company’s stock, up from their prior target price of $108.00.

Several other brokerages have also commented on ILMN. Deutsche Bank AG restated a hold rating and set a $175.00 price target (up from $165.00) on shares of Illumina in a research note on Saturday, April 29th. Cowen and Company restated an outperform rating and set a $200.00 price target on shares of Illumina in a research note on Wednesday, April 26th. Cantor Fitzgerald upped their price target on Illumina from $155.00 to $170.00 and gave the stock a neutral rating in a research note on Wednesday, April 26th. Vetr lowered Illumina from a strong-buy rating to a buy rating and set a $195.67 price target for the company. in a research note on Tuesday, April 25th. Finally, Piper Jaffray Companies restated an overweight rating and set a $187.00 price target (up from $170.00) on shares of Illumina in a research note on Friday, April 14th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $164.97.

Shares of Illumina (NASDAQ:ILMN) traded up 0.55% during mid-day trading on Monday, hitting $176.86. The company had a trading volume of 432,225 shares. The company has a market cap of $25.82 billion, a PE ratio of 35.79 and a beta of 0.79. The firm has a 50-day moving average of $178.41 and a 200-day moving average of $156.53. Illumina has a 12 month low of $119.37 and a 12 month high of $189.48.

Illumina (NASDAQ:ILMN) last released its earnings results on Tuesday, April 25th. The life sciences company reported $0.64 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.64. The firm had revenue of $598 million during the quarter, compared to analyst estimates of $590.51 million. Illumina had a return on equity of 22.89% and a net margin of 19.31%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 earnings per share. On average, analysts expect that Illumina will post $3.63 EPS for the current year.

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In related news, SVP Charles Dadswell sold 1,609 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $187.07, for a total value of $300,995.63. Following the sale, the senior vice president now owns 10,936 shares of the company’s stock, valued at approximately $2,045,797.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director A Blaine Bowman sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 12th. The stock was sold at an average price of $172.72, for a total value of $518,160.00. Following the completion of the sale, the director now directly owns 18,704 shares in the company, valued at approximately $3,230,554.88. The disclosure for this sale can be found here. In the last three months, insiders sold 35,521 shares of company stock worth $6,465,772. Company insiders own 1.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Advocacy Wealth Management Services LLC acquired a new stake in Illumina during the first quarter valued at approximately $102,000. Advisory Services Network LLC acquired a new stake in Illumina during the first quarter valued at approximately $117,000. Gemmer Asset Management LLC boosted its stake in Illumina by 5.7% in the first quarter. Gemmer Asset Management LLC now owns 686 shares of the life sciences company’s stock valued at $117,000 after buying an additional 37 shares in the last quarter. Probity Advisors Inc. acquired a new stake in Illumina during the first quarter valued at approximately $204,000. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in Illumina by 3.6% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,198 shares of the life sciences company’s stock valued at $204,000 after buying an additional 42 shares in the last quarter. 92.79% of the stock is currently owned by institutional investors and hedge funds.

About Illumina

Illumina, Inc (Illumina) is a provider of sequencing- and array-based solutions for genetic analysis. The Company operates through two segments: Core Illumina and the consolidated variable interest entities (VIEs), which include the activities of GRAIL, Inc (GRAIL) and Helix Holdings I, LLC (Helix). Core Illumina consists of its core operations.

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