Citigroup Has Lowered Expectations for Illumina (NASDAQ:ILMN) Stock Price

Illumina (NASDAQ:ILMN) had its target price lowered by equities research analysts at Citigroup from $130.00 to $90.00 in a research note issued on Tuesday,Briefing.com Automated Import reports. The brokerage presently has a “neutral” rating on the life sciences company’s stock. Citigroup’s price target indicates a potential upside of 6.89% from the company’s previous close.

Other analysts also recently issued reports about the stock. UBS Group boosted their price target on shares of Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Stephens boosted their target price on Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Guggenheim decreased their price target on Illumina from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Robert W. Baird boosted their price objective on Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley decreased their target price on Illumina from $150.00 to $136.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $151.70.

Illumina Price Performance

NASDAQ ILMN opened at $84.20 on Tuesday. Illumina has a 52 week low of $83.79 and a 52 week high of $156.66. The stock has a market cap of $13.34 billion, a price-to-earnings ratio of -10.96, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10. The company has a 50-day moving average price of $122.36 and a two-hundred day moving average price of $132.81. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. Analysts forecast that Illumina will post 4.51 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bleakley Financial Group LLC purchased a new position in shares of Illumina during the 4th quarter valued at $751,000. Zacks Investment Management acquired a new stake in Illumina during the third quarter valued at $2,924,000. Van ECK Associates Corp grew its stake in Illumina by 17.5% in the fourth quarter. Van ECK Associates Corp now owns 152,265 shares of the life sciences company’s stock valued at $20,347,000 after purchasing an additional 22,718 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in Illumina in the 4th quarter worth about $1,464,000. Finally, Allworth Financial LP raised its stake in shares of Illumina by 720.7% during the 4th quarter. Allworth Financial LP now owns 7,132 shares of the life sciences company’s stock worth $1,001,000 after purchasing an additional 6,263 shares in the last quarter. 89.42% of the stock is owned by hedge funds and other 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.