Illumina, Inc. (NASDAQ:ILMN) Given Average Rating of “Moderate Buy” by Analysts

Shares of Illumina, Inc. (NASDAQ:ILMN) have been assigned a consensus rating of “Moderate Buy” from the twenty-four research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, thirteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $164.00.

A number of research analysts have recently commented on the company. Scotiabank cut their price target on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a report on Thursday, August 15th. Barclays upped their target price on shares of Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Daiwa America upgraded shares of Illumina to a “strong-buy” rating in a report on Friday, August 16th. Royal Bank of Canada upped their price objective on shares of Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Daiwa Capital Markets raised Illumina from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $120.00 to $154.00 in a research report on Friday, August 16th.

Institutional Investors Weigh In On Illumina

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Industrial Alliance Investment Management Inc. bought a new stake in shares of Illumina during the second quarter valued at approximately $34,000. Versant Capital Management Inc increased its position 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 purchasing an additional 246 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in Illumina by 65.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock worth $56,000 after purchasing an additional 168 shares during the last quarter. Focused Wealth Management Inc acquired a new position in Illumina during the 3rd quarter valued at about $63,000. Finally, Hollencrest Capital Management bought a new position in shares of Illumina in the 3rd quarter valued at about $63,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Price Performance

Shares of Illumina stock opened at $147.62 on Wednesday. The company has a current ratio of 2.43, a quick ratio of 0.86 and a debt-to-equity ratio of 0.94. The firm has a fifty day simple moving average of $138.50 and a 200-day simple moving average of $123.77. The stock has a market capitalization of $23.41 billion, a price-to-earnings ratio of -15.21 and a beta of 1.13. Illumina has a 1-year low of $92.26 and a 1-year high of $156.66.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 earnings per share. On average, sell-side analysts expect that Illumina will post 4.11 earnings per share for the current year.

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.