Illumina (NASDAQ:ILMN) Rating Reiterated by Royal Bank of Canada

Illumina (NASDAQ:ILMN)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank of Canada in a research report issued on Wednesday, Benzinga reports. They presently have a $242.00 target price on the life sciences company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 95.86% from the stock’s current price.

A number of other equities research analysts also recently commented on the company. UBS Group increased their price objective on Illumina from $131.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday. Stephens reissued an “overweight” rating and set a $170.00 target price on shares of Illumina in a research note on Wednesday, July 10th. Jefferies Financial Group initiated coverage on shares of Illumina in a research note on Monday, June 3rd. They set a “hold” rating and a $115.00 target price on the stock. Scotiabank cut their target price 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, TD Cowen cut their target price on shares of Illumina from $140.00 to $122.00 and set a “hold” rating on the stock in a research note on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Illumina currently has an average rating of “Hold” and a consensus price target of $151.57.

Illumina Price Performance

ILMN traded down $3.14 during trading on Wednesday, reaching $123.56. The stock had a trading volume of 1,709,883 shares, compared to its average volume of 2,121,737. The firm has a market capitalization of $19.68 billion, a price-to-earnings ratio of -15.16 and a beta of 1.15. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. Illumina has a 1-year low of $89.00 and a 1-year high of $195.64. The stock has a 50 day moving average of $112.60 and a two-hundred day moving average of $123.26.

Illumina (NASDAQ:ILMN) last released its earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.24. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm posted $0.32 earnings per share. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, equities analysts anticipate that Illumina will post 1.5 EPS for the current fiscal year.

Institutional Trading of Illumina

A number of hedge funds and other institutional investors have recently modified their holdings of ILMN. Vanguard Group Inc. lifted its stake in shares of Illumina by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 18,245,041 shares of the life sciences company’s stock valued at $2,505,409,000 after purchasing an additional 66,528 shares during the period. Edgewood Management LLC grew its position in shares of Illumina by 4.6% during the 4th quarter. Edgewood Management LLC now owns 6,878,495 shares of the life sciences company’s stock worth $957,762,000 after buying an additional 302,222 shares during the period. Baillie Gifford & Co. grew its position in shares of Illumina by 8.7% during the 1st quarter. Baillie Gifford & Co. now owns 5,736,418 shares of the life sciences company’s stock worth $787,725,000 after buying an additional 460,649 shares during the period. WCM Investment Management LLC grew its position in shares of 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 worth $463,760,000 after buying an additional 3,232,418 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Illumina by 7.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,039,538 shares of the life sciences company’s stock worth $317,267,000 after buying an additional 204,043 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Company Profile

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.