Illumina (NASDAQ:ILMN) Reaches New 12-Month Low – Time to Sell?

Illumina, Inc. (NASDAQ:ILMN)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $92.26 and last traded at $92.87, with a volume of 574615 shares trading hands. The stock had previously closed at $94.20.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Canaccord Genuity Group decreased their target price on shares of Illumina from $145.00 to $135.00 and set a “hold” rating on the stock in a report on Friday, February 7th. Citigroup downgraded Illumina from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $190.00 to $165.00 in a research report on Wednesday, December 11th. Piper Sandler boosted their target price on Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Robert W. Baird raised their price target on Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Finally, Guggenheim cut their price objective on Illumina from $170.00 to $150.00 and set a “buy” rating for the company in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $159.45.

Illumina Stock Down 0.0 %

The company has a market capitalization of $14.92 billion, a P/E ratio of -12.28, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10. 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 stock’s fifty day moving average is $127.98 and its 200 day moving average is $134.22.

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

Hedge Funds Weigh In On Illumina

Hedge funds have recently made changes to their positions in the business. Bleakley Financial Group LLC bought a new stake in Illumina in the fourth quarter valued at $751,000. Zacks Investment Management purchased a new position in shares of Illumina during the third quarter valued at about $2,924,000. Van ECK Associates Corp raised 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 worth $20,347,000 after buying an additional 22,718 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in Illumina in the fourth quarter worth about $1,464,000. Finally, Allworth Financial LP lifted its holdings in Illumina by 720.7% in the fourth quarter. Allworth Financial LP now owns 7,132 shares of the life sciences company’s stock worth $1,001,000 after buying an additional 6,263 shares during the period. 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.