Illumina, Inc. (NASDAQ:ILMN) announced the appointment of Sam A. Samad, Senior Vice President and Chief Financial Officer. He will join the company on January 6th, 2017.
“I look forward to welcoming Sam to Illumina’s executive team,” said Marc Stapley, Executive Vice President and Chief Administrative Officer of Illumina. “Sam’s global experience in leading large finance organizations at major corporations, coupled with his healthcare experience in sales and general management, has prepared him well to help us accomplish our mission. Personally, I look forward to welcoming Sam to my team and handing over the CFO reigns to him.”
Sam will be responsible for the company’s finance, accounting, investor relations, internal audit and treasury functions. He joins Illumina from Cardinal Health where he held several senior leadership positions including most recently Senior Vice President and Corporate Treasurer, with leadership responsibility for Cardinal Health’s China business. Sam was previously Senior Vice President and Chief Financial Officer for the pharmaceutical segment, and Vice President, Healthcare Supply Chain Services. He also previously held finance roles at Eli Lilly and PepsiCo Inc. Sam holds a BBA degree from the American University of Beirut inLebanon and an MBA from McMaster University in Hamilton, Canada. (Original Source)
Shares of Illumina are currently trading . ILMN has a 1-year high of $196.47 and a 1-year low of $125.10. The stock’s 50-day moving average is $145.97 and its 200-day moving average is $157.86.
On the ratings front, Illumina has been the subject of a number of recent research reports. In a report issued on November 10, Leerink Swann analyst Puneet Souda initiated coverage with a Hold rating on ILMN and a price target of $145, which represents a potential upside of 15% from where the stock is currently trading. Separately, on November 2, First Analysis’ Joseph Munda downgraded the stock to Sell and has a price target of $116.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Puneet Souda and Joseph Munda have a yearly average loss of 9.1% and 8.2% respectively. Souda has a success rate of 22% and is ranked #3567 out of 4262 analysts, while Munda has a success rate of 50% and is ranked #3064.
Sentiment on the street is mostly neutral on ILMN stock. Out of 12 analysts who cover the stock, 7 suggest a Hold rating , 3 suggest a Buy and 2 recommend to Sell the stock. The 12-month average price target assigned to the stock is $150.00, which implies an upside of 19% from current levels.
Illumina, Inc. develops, manufactures and markets integrated systems for the analysis of genetic variation and function. The company provides sequencing and array-based solutions for genetic analysis in addition to selling products, it provide genotyping, NIPT and whole-genome sequencing services. Its customers include leading genomic research centers, academic institutions, government laboratories, hospitals, and reference laboratories as well as pharmaceutical, biotechnology, agrigenomics, commercial molecular diagnostic, and consumer genomics companies.