Canaccord Genuity Group Has Lowered Expectations for Illumina (NASDAQ:ILMN) Stock Price

Illumina (NASDAQ:ILMN) had its price target trimmed by Canaccord Genuity Group from $135.00 to $115.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a hold rating on the life sciences company’s stock.

Several other research analysts also recently commented on ILMN. HSBC downgraded shares of Illumina from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research note on Friday, February 28th. TD Cowen downgraded shares of Illumina from a “buy” rating to a “hold” rating and lowered their price objective for the company from $177.00 to $140.00 in a research note on Friday, February 7th. Piper Sandler raised their target price on Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Stephens increased their price objective on Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Finally, Hsbc Global Res cut shares of Illumina from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.90.

Illumina Stock Down 0.2 %

Shares of NASDAQ:ILMN opened at $84.05 on Tuesday. The stock has a market capitalization of $13.31 billion, a P/E ratio of -10.94, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17. The stock’s 50-day moving average price is $114.52 and its 200-day moving average price is $130.20. 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 has a 12-month low of $80.18 and a 12-month high of $156.66.

Illumina (NASDAQ:ILMN) last posted 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%. On average, equities analysts anticipate that Illumina will post 4.51 earnings per share for the current year.

Institutional Trading of Illumina

Several institutional investors have recently bought and sold shares of ILMN. Versant Capital Management Inc grew its holdings in shares of Illumina by 153.7% during the fourth quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock valued at $32,000 after buying an additional 146 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of Illumina during the fourth quarter valued at $32,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Illumina during the fourth quarter valued at $40,000. Assetmark Inc. increased its holdings in Illumina by 954.8% in the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock worth $44,000 after buying an additional 296 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in Illumina in the 4th quarter worth about $45,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

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.