Bank of America Securities Sticks to Its Sell Rating for Illumina (ILMN)
Bank of America Securities analyst Michael Ryskin maintained a Sell rating on Illumina today and set a price target of $100.00.
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According to TipRanks, Ryskin is a 2-star analyst with an average return of 0.1% and a 47.68% success rate. Ryskin covers the Healthcare sector, focusing on stocks such as Idexx Laboratories, Zoetis, and Illumina.
In addition to Bank of America Securities, Illumina also received a Sell from Citi’s Patrick B Donnelly in a report issued on May 4. However, today, Daiwa upgraded Illumina (NASDAQ: ILMN) to a Buy.
Based on Illumina’s latest earnings release for the quarter ending March 29, the company reported a quarterly revenue of $1.09 billion and a net profit of $134 million. In comparison, last year the company earned a revenue of $1.04 billion and had a net profit of $131 million
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ILMN in relation to earlier this year. Earlier this month, Keith Meister, a Director at ILMN bought 88,804.00 shares for a total of $9,130,827.28.
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