How Will Illumina Shares React to New EU Ruling?

Today Wall Street Journal is reporting: "The European Commission said Illumina will have to restore Grail's independence and return it to the same level that existed before the acquisition." For full coverage click here. Shares of the large-cap Healthcare company have not moved much on the news as of the afternoon trading session, and are currently trading at $216.59.

Illumina, Inc. provides sequencing and array-based solutions for genetic and genomic analysis. The company belongs to the Healthcare sector, which has an average price to earnings (P/E) ratio of 13.21 and an average price to book (P/B) ratio of 4.07. In contrast, Illumina has a trailing 12 month P/E ratio of 48.8 and a P/B ratio of 5.1.

Illumina has moved -37.8% over the last year compared to -11.3% for the S&P 500 -- a difference of -26.5%. Illumina has a 52 week high of $428 and a 52 week low of $173.45. At today's price of $216.59 per share, Illumina is -12.79% away from its target price of $248.35, and on average, analysts give the stock a rating of hold.3.2% of the company's shares are linked to short positions, and 90.9% of the shares are owned by institutional investors.

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