Illumina (NASDAQ:ILMN) Trading Up 5.7% – Time to Buy?

Illumina, Inc. (NASDAQ:ILMN)’s stock price rose 5.7% during trading on Monday . The stock traded as high as $144.47 and last traded at $144.42. Approximately 1,191,095 shares were traded during trading, a decline of 15% from the average daily volume of 1,394,217 shares. The stock had previously closed at $136.69.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ILMN. Barclays upped their target price on Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Morgan Stanley cut their price objective on Illumina from $156.00 to $150.00 and set an “equal weight” rating on the stock in a report on Monday. HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research note on Thursday, October 17th. Robert W. Baird upped their target price on Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada raised their price target on shares of Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $165.63.

Illumina Trading Down 0.2 %

The company has a fifty day moving average of $140.55 and a 200-day moving average of $133.10. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $21.60 billion, a price-to-earnings ratio of -13.67 and a beta of 1.11.

Illumina (NASDAQ:ILMN) last released its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the business posted $0.33 earnings per share. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Illumina, Inc. will post 4.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Illumina

Large investors have recently modified their holdings of the business. HB Wealth Management LLC boosted its position in Illumina by 31.5% during the fourth quarter. HB Wealth Management LLC now owns 3,608 shares of the life sciences company’s stock worth $482,000 after acquiring an additional 864 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in Illumina by 1.4% in the 4th quarter. Arkadios Wealth Advisors now owns 9,833 shares of the life sciences company’s stock worth $1,314,000 after purchasing an additional 131 shares in the last quarter. Brooklyn Investment Group lifted its stake in Illumina by 20.5% in the 4th quarter. Brooklyn Investment Group now owns 611 shares of the life sciences company’s stock worth $82,000 after purchasing an additional 104 shares in the last quarter. Sax Wealth Advisors LLC acquired a new position in shares of Illumina during the 4th quarter worth approximately $561,000. Finally, Merit Financial Group LLC purchased a new stake in shares of Illumina in the fourth quarter valued at approximately $392,000. Hedge funds and other institutional investors 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.