Evercore ISI Trims Illumina (NASDAQ:ILMN) Target Price to $175.00

Illumina (NASDAQ:ILMNFree Report) had its price target cut by Evercore ISI from $195.00 to $175.00 in a research note released on Tuesday, Benzinga reports. They currently have an outperform rating on the life sciences company’s stock.

A number of other brokerages also recently weighed in on ILMN. Royal Bank of Canada reaffirmed an outperform rating and set a $253.00 target price on shares of Illumina in a research note on Tuesday, April 9th. Stephens reissued an overweight rating and issued a $170.00 target price on shares of Illumina in a report on Tuesday, May 7th. Jefferies Financial Group initiated coverage on Illumina in a report on Monday, June 3rd. They set a hold rating and a $115.00 price target for the company. Scotiabank dropped their price target on shares of Illumina from $185.00 to $176.00 and set a sector outperform rating on the stock in a research note on Monday, May 6th. Finally, StockNews.com upgraded shares of Illumina from a hold rating to a buy rating in a research note on Saturday, May 11th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Illumina has an average rating of Hold and an average target price of $158.14.

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Illumina Price Performance

Shares of ILMN stock opened at $109.22 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 1.75. Illumina has a fifty-two week low of $89.00 and a fifty-two week high of $212.49. The firm has a market cap of $17.40 billion, a P/E ratio of -13.40 and a beta of 1.20. The business’s 50 day moving average price is $115.31 and its 200-day moving average price is $127.29.

Illumina (NASDAQ:ILMNGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the company earned $0.08 earnings per share. Illumina’s quarterly revenue was down 1.0% on a year-over-year basis. On average, equities research analysts anticipate that Illumina will post 1.04 earnings per share for the current year.

Institutional Investors Weigh In On Illumina

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WCM Investment Management LLC raised its holdings in Illumina by 2,232.3% during the 1st quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock valued at $463,760,000 after buying an additional 3,232,418 shares during the period. Vanguard Group Inc. raised its stake in shares of Illumina by 15.0% in the third quarter. Vanguard Group Inc. now owns 17,967,758 shares of the life sciences company’s stock valued at $2,466,614,000 after acquiring an additional 2,336,935 shares during the period. Capital World Investors bought a new stake in shares of Illumina in the 4th quarter worth about $271,753,000. Norges Bank bought a new stake in shares of Illumina in the 4th quarter worth about $264,636,000. Finally, Coatue Management LLC purchased a new position in shares of Illumina during the 4th quarter worth about $119,285,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Company Profile

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Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.

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Analyst Recommendations for Illumina (NASDAQ:ILMN)

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