Illumina (NASDAQ:ILMN) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Illumina (NASDAQ:ILMNFree Report) in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has a $258.00 target price on the life sciences company’s stock.

Several other research firms have also commented on ILMN. Wolfe Research began coverage on shares of Illumina in a report on Wednesday, December 13th. They issued an outperform rating and a $175.00 price target on the stock. Guggenheim began coverage on shares of Illumina in a research note on Thursday, December 14th. They set a buy rating and a $155.00 target price on the stock. Barclays increased their target price on shares of Illumina from $50.00 to $80.00 and gave the stock an underweight rating in a research note on Thursday, January 25th. HSBC lowered shares of Illumina from a buy rating to a hold rating in a research note on Tuesday, January 16th. Finally, StockNews.com raised shares of Illumina from a hold rating to a buy rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $166.95.

Read Our Latest Stock Analysis on Illumina

Illumina Price Performance

NASDAQ:ILMN opened at $137.84 on Friday. Illumina has a one year low of $89.00 and a one year high of $238.55. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.28 and a current ratio of 1.69. The firm has a market cap of $21.89 billion, a price-to-earnings ratio of -19.36, a PEG ratio of 25.75 and a beta of 1.22. The firm’s fifty day moving average is $135.24 and its two-hundred day moving average is $138.32.

Illumina (NASDAQ:ILMNGet Free Report) last posted its quarterly earnings results on Thursday, February 8th. The life sciences company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.01 by $0.13. Illumina had a negative net margin of 25.20% and a positive return on equity of 2.13%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the company earned $0.14 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. Research analysts expect that Illumina will post 0.76 EPS for the current year.

Institutional Trading of Illumina

A number of hedge funds have recently bought and sold shares of ILMN. Acadian Asset Management LLC raised its holdings in Illumina by 312.5% in the 1st quarter. Acadian Asset Management LLC now owns 2,013 shares of the life sciences company’s stock valued at $702,000 after acquiring an additional 1,525 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Illumina by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 237,118 shares of the life sciences company’s stock valued at $82,853,000 after acquiring an additional 7,114 shares during the last quarter. Dakota Wealth Management raised its holdings in Illumina by 13.8% in the 1st quarter. Dakota Wealth Management now owns 826 shares of the life sciences company’s stock valued at $288,000 after acquiring an additional 100 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Illumina by 16.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 803 shares of the life sciences company’s stock worth $281,000 after buying an additional 116 shares during the last quarter. Finally, Baird Financial Group Inc. increased its holdings in shares of Illumina by 10.2% during the 1st quarter. Baird Financial Group Inc. now owns 48,943 shares of the life sciences company’s stock worth $17,108,000 after buying an additional 4,548 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

About Illumina

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Illumina, Inc develops, manufactures, and markets life science tools and integrated systems for large-scale analysis of genetic variation and function. 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; and whole-genome sequencing kits, which sequence entire genomes of any size and complexity, and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.

Further Reading

Analyst Recommendations for Illumina (NASDAQ:ILMN)

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