Illumina (NASDAQ:ILMN) Stock Price Expected to Rise, Stephens Analyst Says

Illumina (NASDAQ:ILMN) had its price objective upped by Stephens from $170.00 to $184.00 in a research note published on Tuesday morning,Benzinga reports. Stephens currently has an overweight rating on the life sciences company’s stock.

A number of other brokerages also recently commented on ILMN. TD Cowen boosted their price objective on shares of Illumina from $166.00 to $177.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Daiwa Capital Markets raised shares of Illumina from a “neutral” rating to a “buy” rating and upped their price target for the stock from $120.00 to $154.00 in a research note on Friday, August 16th. UBS Group increased their price objective on Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Hsbc Global Res upgraded Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 target price on the stock in a research note on Thursday, October 17th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $156.00 price target on shares of Illumina in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.00.

Illumina Trading Down 5.1 %

Shares of NASDAQ:ILMN opened at $135.05 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. The stock has a market capitalization of $21.42 billion, a price-to-earnings ratio of -13.56 and a beta of 1.13. Illumina has a 1-year low of $92.69 and a 1-year high of $156.66. The company has a 50 day moving average price of $139.44 and a 200 day moving average price of $124.23.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the business earned $0.33 earnings per share. The firm’s revenue was down 3.5% compared to the same quarter last year. On average, research analysts anticipate that Illumina will post 4.11 EPS for the current fiscal year.

Institutional Trading of Illumina

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in shares of Illumina by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,727,827 shares of the life sciences company’s stock valued at $354,933,000 after buying an additional 48,018 shares during the period. Vestcor Inc raised its holdings in Illumina by 300.7% in the 3rd quarter. Vestcor Inc now owns 12,793 shares of the life sciences company’s stock valued at $1,668,000 after acquiring an additional 9,600 shares in the last quarter. M&T Bank Corp lifted its position in shares of Illumina by 3.4% in the 3rd quarter. M&T Bank Corp now owns 54,378 shares of the life sciences company’s stock worth $7,091,000 after acquiring an additional 1,769 shares during the period. LRI Investments LLC grew its holdings in shares of Illumina by 284.9% during the 3rd quarter. LRI Investments LLC now owns 535 shares of the life sciences company’s stock worth $76,000 after purchasing an additional 396 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Illumina by 8.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 50,593 shares of the life sciences company’s stock valued at $6,598,000 after purchasing an additional 4,077 shares during the period. 89.42% of the stock is currently owned by institutional investors and hedge funds.

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.