Piper Sandler Cuts Illumina (NASDAQ:ILMN) Price Target to $185.00

Illumina (NASDAQ:ILMN) had its price objective trimmed by Piper Sandler from $195.00 to $185.00 in a research note published on Monday,Benzinga reports. The firm currently has an overweight rating on the life sciences company’s stock.

Several other equities analysts have also recently issued reports on ILMN. StockNews.com started coverage on shares of Illumina in a research report on Thursday, August 29th. They issued a “buy” rating for the company. JPMorgan Chase & Co. raised their target price on Illumina from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Barclays upped their price target on Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. TD Cowen raised their price objective on Illumina from $166.00 to $177.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Robert W. Baird upped their target price on Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.00.

Illumina Stock Performance

NASDAQ ILMN opened at $146.17 on Monday. The firm’s fifty day moving average price is $138.84 and its two-hundred day moving average price is $123.95. The stock has a market cap of $23.18 billion, a PE ratio of -14.68 and a beta of 1.13. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. Illumina has a fifty-two week low of $92.69 and a fifty-two week high of $156.66.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. Illumina’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS. On average, equities analysts expect that Illumina will post 4.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Illumina

Several large investors have recently added to or reduced their stakes in ILMN. Vanguard Group Inc. raised its stake in shares of Illumina by 0.4% in the first quarter. Vanguard Group Inc. now owns 18,245,041 shares of the life sciences company’s stock worth $2,505,409,000 after purchasing an additional 66,528 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in 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 valued at $317,267,000 after acquiring an additional 204,043 shares in the last quarter. Capital World Investors boosted its holdings in Illumina by 41.1% during the 1st quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company’s stock worth $378,111,000 after acquiring an additional 801,814 shares during the last quarter. Primecap Management Co. CA grew its stake in shares of Illumina by 3.6% in the 3rd quarter. Primecap Management Co. CA now owns 2,516,359 shares of the life sciences company’s stock worth $328,158,000 after acquiring an additional 87,599 shares in the last quarter. Finally, GUARDCAP ASSET MANAGEMENT Ltd raised its holdings in shares of Illumina by 1.1% in the first quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 2,068,869 shares of the life sciences company’s stock valued at $284,097,000 after purchasing an additional 22,067 shares during the last quarter. Institutional investors own 89.42% of the company’s stock.

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.