Illumina (NASDAQ:ILMN) Hits New 1-Year Low – Here’s Why

Illumina, Inc. (NASDAQ:ILMN)’s stock price hit a new 52-week low during trading on Friday . The company traded as low as $79.97 and last traded at $80.00, with a volume of 429084 shares traded. The stock had previously closed at $82.28.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Hsbc Global Res lowered Illumina from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Morgan Stanley dropped their price target on Illumina from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Royal Bank of Canada cut their price target on Illumina from $247.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. Citigroup lowered their price objective on shares of Illumina from $130.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Finally, TD Cowen downgraded shares of Illumina from a “buy” rating to a “hold” rating and cut their target price for the company from $177.00 to $140.00 in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Illumina presently has an average rating of “Moderate Buy” and a consensus target price of $140.90.

Illumina Stock Performance

The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. The company has a market cap of $12.67 billion, a PE ratio of -10.40, a P/E/G ratio of 1.60 and a beta of 1.17. The firm’s 50-day simple moving average is $103.93 and its two-hundred day simple moving average is $127.08.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data 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%. As a group, research analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Illumina

Institutional investors have recently modified their holdings of the stock. Golden State Wealth Management LLC acquired a new stake in Illumina during the fourth quarter worth about $32,000. Versant Capital Management Inc grew its stake in shares of Illumina by 153.7% during the 4th quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock worth $32,000 after purchasing an additional 146 shares during the period. Fourth Dimension Wealth LLC purchased a new position in shares of Illumina during the 4th quarter valued at approximately $40,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Illumina during the 4th quarter valued at approximately $45,000. Finally, Assetmark Inc. lifted its stake in shares of Illumina by 954.8% in the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock valued at $44,000 after purchasing an additional 296 shares during the period. Hedge funds and other 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.