Illumina (NASDAQ:ILMN) Rating Reiterated by Royal Bank of Canada

Illumina (NASDAQ:ILMN)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank of Canada in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $253.00 price target on the life sciences company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 92.88% from the company’s current price.

A number of other brokerages have also issued reports on ILMN. Scotiabank raised shares of Illumina from a “sector perform” rating to a “sector outperform” rating and set a $185.00 price objective for the company in a report on Monday, December 18th. Guggenheim initiated coverage on shares of Illumina in a research note on Thursday, December 14th. They set a “buy” rating and a $155.00 price objective for the company. Citigroup upgraded Illumina from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $85.00 to $120.00 in a research report on Monday, December 11th. Bank of America downgraded Illumina from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $140.00 to $100.00 in a report on Tuesday, December 12th. Finally, OTR Global restated a “mixed” rating on shares of Illumina in a report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $167.70.

Illumina Price Performance

Shares of NASDAQ:ILMN opened at $131.17 on Tuesday. The firm’s 50 day moving average price is $136.42 and its 200-day moving average price is $128.48. Illumina has a twelve month low of $89.00 and a twelve month high of $232.88. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $20.89 billion, a PE ratio of -17.87 and a beta of 1.19.

Illumina (NASDAQ:ILMN) last released its earnings results on Thursday, February 8th. The life sciences company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.13. Illumina had a negative net margin of 25.78% and a positive return on equity of 2.20%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the business earned $0.14 EPS. The firm’s revenue was up 3.6% compared to the same quarter last year. Equities research analysts expect that Illumina will post 0.91 EPS for the current year.

Insider Activity at Illumina

In related news, CEO Jacob Thaysen purchased 7,330 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was bought at an average cost of $135.29 per share, with a total value of $991,675.70. Following the completion of the acquisition, the chief executive officer now owns 14,861 shares of the company’s stock, valued at approximately $2,010,544.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Illumina by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 18,178,513 shares of the life sciences company’s stock worth $2,531,176,000 after buying an additional 210,755 shares during the period. Edgewood Management LLC raised its stake in shares of Illumina by 4.6% during the 4th quarter. Edgewood Management LLC now owns 6,878,495 shares of the life sciences company’s stock worth $957,762,000 after buying an additional 302,222 shares during the period. Polen Capital Management LLC raised its stake in shares of Illumina by 0.6% during the 3rd quarter. Polen Capital Management LLC now owns 5,126,614 shares of the life sciences company’s stock worth $703,782,000 after buying an additional 29,153 shares during the period. Loomis Sayles & Co. L P raised its stake in shares of Illumina by 5.5% during the 3rd quarter. Loomis Sayles & Co. L P now owns 4,007,957 shares of the life sciences company’s stock worth $550,212,000 after buying an additional 208,267 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Illumina by 6.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,648,935 shares of the life sciences company’s stock worth $500,926,000 after buying an additional 225,074 shares during the period. 89.42% of the stock is 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.