Illumina (NASDAQ:ILMN) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Illumina (NASDAQ:ILMN) had its target price hoisted by Robert W. Baird from $124.00 to $139.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the life sciences company’s stock.

A number of other analysts also recently commented on the company. StockNews.com began coverage on Illumina in a research note on Thursday, August 29th. They issued a “buy” rating on the stock. Daiwa America raised Illumina to a “strong-buy” rating in a report on Friday, August 16th. Citigroup lifted their target price on shares of Illumina from $155.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday. Barclays increased their price target on Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Argus raised Illumina from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $162.18.

Illumina Stock Down 2.6 %

ILMN traded down $4.06 on Wednesday, reaching $151.09. The company’s stock had a trading volume of 2,209,599 shares, compared to its average volume of 1,772,358. The company has a market capitalization of $24.07 billion, a price-to-earnings ratio of -15.17 and a beta of 1.13. Illumina has a fifty-two week low of $89.00 and a fifty-two week high of $156.66. The stock has a 50 day moving average of $138.09 and a two-hundred day moving average of $123.56. The company has a quick ratio of 0.86, a current ratio of 2.43 and a debt-to-equity ratio of 0.94.

Illumina (NASDAQ:ILMN) last announced its earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the firm earned $0.33 EPS. Illumina’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, analysts forecast that Illumina will post 4.11 EPS for the current fiscal year.

Institutional Trading of Illumina

Several institutional investors and hedge funds have recently added to or reduced their stakes in ILMN. Industrial Alliance Investment Management Inc. bought a new position in Illumina in the 2nd quarter valued at approximately $34,000. Versant Capital Management Inc boosted its holdings in Illumina by 292.9% in the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after acquiring an additional 246 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of Illumina by 65.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after buying an additional 168 shares in the last quarter. Focused Wealth Management Inc bought a new position in Illumina during the 3rd quarter valued at $63,000. Finally, Hollencrest Capital Management bought a new position in Illumina in the 3rd quarter valued at $63,000. 89.42% of the stock is owned by institutional investors.

About Illumina

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.