Illumina (NASDAQ:ILMN) Price Target Raised to $155.00

Illumina (NASDAQ:ILMN) had its price target upped by Citigroup from $140.00 to $155.00 in a research note released on Wednesday, Benzinga reports. Citigroup currently has a buy rating on the life sciences company’s stock.

Several other equities research analysts also recently issued reports on the stock. Barclays lifted their price target on shares of Illumina from $85.00 to $100.00 and gave the stock an underweight rating in a research note on Wednesday, April 10th. Scotiabank decreased their price objective on shares of Illumina from $185.00 to $176.00 and set a sector outperform rating for the company in a report on Monday, May 6th. Stephens reissued an overweight rating and set a $170.00 price objective on shares of Illumina in a report on Wednesday, July 10th. Royal Bank of Canada reaffirmed an outperform rating and issued a $242.00 price target on shares of Illumina in a report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Illumina from $130.00 to $125.00 and set a neutral rating for the company in a report on Wednesday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $151.57.

Illumina Trading Down 2.5 %

Shares of ILMN stock traded down $3.14 during mid-day trading on Wednesday, reaching $123.56. The company’s stock had a trading volume of 1,860,377 shares, compared to its average volume of 2,122,721. The company’s 50 day simple moving average is $112.98 and its 200-day simple moving average is $123.15. Illumina has a 12-month low of $89.00 and a 12-month high of $195.64. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $19.68 billion, a PE ratio of -15.16 and a beta of 1.15.

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

Institutional Trading of Illumina

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. lifted its stake in Illumina by 426.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,460 shares of the life sciences company’s stock valued at $2,123,000 after purchasing an additional 12,521 shares during the last quarter. Findlay Park Partners LLP purchased a new stake in shares of Illumina in the 1st quarter valued at approximately $100,120,000. abrdn plc lifted its position in shares of Illumina by 764.9% in the 4th quarter. abrdn plc now owns 339,023 shares of the life sciences company’s stock valued at $47,206,000 after acquiring an additional 299,827 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Illumina in the 1st quarter valued at approximately $4,527,000. Finally, Norges Bank purchased a new stake in shares of Illumina in the 4th quarter valued at approximately $264,636,000. 89.42% of the stock is owned by institutional investors and hedge funds.

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.