Illumina (NASDAQ:ILMN) Price Target Cut to $300.00

Illumina (NASDAQ:ILMN – Get Rating) had its price target reduced by analysts at Royal Bank of Canada from $303.00 to $300.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the life sciences company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 33.36% from the company’s current price.

Several other equities analysts have also recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $290.00 price target on shares of Illumina in a report on Wednesday, February 8th. JPMorgan Chase & Co. cut their price target on Illumina from $300.00 to $271.00 and set a “neutral” rating for the company in a report on Wednesday, February 8th. Argus cut Illumina from a “buy” rating to a “hold” rating in a report on Wednesday, January 25th. They noted that the move was a valuation call. StockNews.com cut Illumina from a “hold” rating to a “sell” rating in a report on Wednesday, February 8th. Finally, Barclays dropped their target price on Illumina from $160.00 to $150.00 and set an “underweight” rating for the company in a report on Wednesday, February 8th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $249.40.

Illumina Price Performance

Shares of NASDAQ:ILMN opened at $224.95 on Wednesday. The business has a 50 day moving average price of $208.40 and a 200 day moving average price of $208.60. Illumina has a twelve month low of $173.45 and a twelve month high of $371.16. The company has a market cap of $35.54 billion, a price-to-earnings ratio of -8.03, a PEG ratio of 8.27 and a beta of 1.15. The company has a quick ratio of 1.08, a current ratio of 1.28 and a debt-to-equity ratio of 0.23.

Illumina (NASDAQ:ILMN – Get Rating) last posted its quarterly earnings results on Tuesday, February 7th. The life sciences company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.11). The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.07 billion. Illumina had a negative net margin of 96.12% and a positive return on equity of 3.79%. The company’s revenue was down 9.2% on a year-over-year basis. During the same period last year, the company earned $0.75 EPS. Research analysts predict that Illumina will post 1.41 earnings per share for the current year.

Insider Buying and Selling at Illumina

In other Illumina news, SVP Aimee L. Hoyt sold 871 shares of the stock in a transaction on Monday, January 9th. The stock was sold at an average price of $205.57, for a total value of $179,051.47. Following the transaction, the senior vice president now directly owns 2,796 shares in the company, valued at approximately $574,773.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Illumina news, SVP Aimee L. Hoyt sold 871 shares of the stock in a transaction on Monday, January 9th. The stock was sold at an average price of $205.57, for a total value of $179,051.47. Following the transaction, the senior vice president now directly owns 2,796 shares in the company, valued at approximately $574,773.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Susan H. Tousi sold 500 shares of the stock in a transaction on Monday, February 6th. The shares were sold at an average price of $211.57, for a total value of $105,785.00. Following the completion of the transaction, the senior vice president now owns 38,276 shares in the company, valued at $8,098,053.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,186 shares of company stock worth $2,255,837. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Prudential PLC boosted its position in shares of Illumina by 0.8% in the 2nd quarter. Prudential PLC now owns 6,500 shares of the life sciences company’s stock worth $1,198,000 after purchasing an additional 49 shares during the last quarter. Corient Capital Partners LLC boosted its position in shares of Illumina by 2.7% in the 2nd quarter. Corient Capital Partners LLC now owns 1,911 shares of the life sciences company’s stock worth $352,000 after purchasing an additional 50 shares during the last quarter. Regent Investment Management LLC boosted its position in shares of Illumina by 3.0% in the 4th quarter. Regent Investment Management LLC now owns 1,705 shares of the life sciences company’s stock worth $345,000 after purchasing an additional 50 shares during the last quarter. Raymond James Trust N.A. boosted its position in shares of Illumina by 2.8% in the 4th quarter. Raymond James Trust N.A. now owns 1,883 shares of the life sciences company’s stock worth $381,000 after purchasing an additional 52 shares during the last quarter. Finally, Financial Consulate Inc. boosted its position in shares of Illumina by 3.5% in the 3rd quarter. Financial Consulate Inc. now owns 1,617 shares of the life sciences company’s stock worth $309,000 after purchasing an additional 54 shares during the last quarter. 87.97% of the stock is currently owned by institutional investors.

About Illumina

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Illumina, Inc engages in the development, manufacturing, and marketing of life science tools and integrated systems for large-scale analysis of genetic variation and function. It operates through the Core Illumina segment, which serves customers in the research, clinical and applied markets fields, and enables the adoption of a variety of genomic solutions.