Illumina (ILMN) is Downgraded by Citigroup to Neutral

Illumina (ILMN) was Downgraded by Citigroup to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Citigroup advised their investors in a research report released on Oct 11, 2016.

Many Wall Street Analysts have commented on Illumina. Illumina was Downgraded by CL King to ” Neutral” on Aug 22, 2016. Company shares were Reiterated by Mizuho on Jul 27, 2016 to “Neutral”, Firm has raised the Price Target to $ 148 from a previous price target of $138 .

On the company’s financial health, Illumina reported $0.71 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on May 3, 2016. Analyst had a consensus of $0.74. The company had revenue of $571.80 million for the quarter, compared to analysts expectations of $580.44 million. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS.

Illumina closed down -0.44 points or -0.24% at $184.49 with 7,73,003 shares getting traded on Friday. Post opening the session at $185.82, the shares hit an intraday low of $183.6 and an intraday high of $185.99 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Oct 6, 2016, Charles Dadswell (Sr VP & General Counsel) sold 116 shares at $182.38 per share price. According to the SEC, on Sep 21, 2016, Robert S Epstein (director) sold 300 shares at $174.29 per share price. On Sep 16, 2016, Marc Stapley (EVP & Chief Administrative Ofc) sold 1,270 shares at $172.38 per share price, according to the Form-4 filing with the securities and exchange commission.

Illumina Inc. is engaged in production development of sequencing-and array-based solutions for genetic analysis. The Company offers integrated systems consumables and analysis tools for genetic analysis. It also manufactures sequencing and array platforms reagent kits and scanning equipment. Its customers include genomic research centers academic institutions government laboratories hospitals and reference laboratories pharmaceutical biotechnology agrigenomics commercial molecular diagnostic and consumer genomics companies. Its sequencing instruments perform a range of nucleic-acid analyses across a range of sample sizes. Its products and services are used for basic analysis and research including de novo sequencing genetic variation analysis epigenetics and targeted screening among others. It also provides products and services for other life sciences applied markets such as agrigenomics. It also offers Clarity Run Manager Clarity LIMS Silver and Clarity LIMS Gold.

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