SVB Securities Sticks to Its Hold Rating for Illumina (ILMN)

SVB Securities analyst Puneet Souda maintained a Hold rating on Illumina (ILMNResearch Report) on September 6. The company’s shares closed last Friday at $210.35.

According to TipRanks, Souda is an analyst with an average return of -9.2% and a 37.43% success rate. Souda covers the Healthcare sector, focusing on stocks such as Illumina, Exact Sciences, and Myriad Genetics.

In addition to SVB Securities, Illumina also received a Hold from Bank of America Securities’s Derik De Bruin in a report issued on September 2. However, on September 7, Canaccord Genuity maintained a Buy rating on Illumina (NASDAQ: ILMN).

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Based on Illumina’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.16 billion and a GAAP net loss of $535 million. In comparison, last year the company earned a revenue of $1.13 billion and had a net profit of $185 million

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Incorporated in 1998, Illumina, Inc. is a California-based company which develops, manufactures, and markets integrated systems for the analysis of genetic variation and biological function. Its products and services serve customers in the research, clinical and applied markets, and enable the adoption of a variety of genomic solutions. The company’s products include microarray scanners, sequencing reagents, and onsite training selector. Its services include sequencing and microarray services; proactive instrument monitoring; and instrument services, training, and consulting.

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