Illumina (NASDAQ:ILMN) Price Target Cut to $176.00

Illumina (NASDAQ:ILMN) had its price objective dropped by stock analysts at Scotiabank from $185.00 to $176.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “sector outperform” rating on the life sciences company’s stock. Scotiabank’s price objective points to a potential upside of 56.00% from the company’s current price.

A number of other brokerages have also commented on ILMN. Stephens reiterated an “overweight” rating and issued a $170.00 price objective on shares of Illumina in a report on Wednesday, April 10th. Barclays increased their price target on Illumina from $85.00 to $100.00 and gave the company an “underweight” rating in a report on Wednesday, April 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $253.00 target price on shares of Illumina in a research report on Tuesday, April 9th. StockNews.com downgraded shares of Illumina from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, HSBC cut shares of Illumina from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Illumina presently has an average rating of “Hold” and a consensus price target of $164.65.

Illumina Price Performance

Shares of NASDAQ ILMN opened at $112.82 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.36. Illumina has a 1-year low of $89.00 and a 1-year high of $213.91. The company has a market capitalization of $17.97 billion, a price-to-earnings ratio of -13.84 and a beta of 1.20. The business has a 50-day moving average of $129.13 and a 200-day moving average of $126.95.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. Illumina’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 EPS. On average, equities analysts anticipate that Illumina will post 0.91 EPS for the current fiscal year.

Insider Activity

In other Illumina news, CEO Jacob Thaysen bought 7,330 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were purchased at an average cost of $135.29 per share, for a total transaction of $991,675.70. Following the transaction, the chief executive officer now directly owns 14,861 shares in the company, valued at $2,010,544.69. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Illumina

Large investors have recently modified their holdings of the stock. Trivant Custom Portfolio Group LLC lifted its position in Illumina by 166.7% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock worth $27,000 after acquiring an additional 125 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Illumina during the 3rd quarter worth about $30,000. VisionPoint Advisory Group LLC increased its holdings in shares of Illumina by 344.6% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 249 shares of the life sciences company’s stock worth $34,000 after purchasing an additional 193 shares during the period. Wetzel Investment Advisors Inc. bought a new position in shares of Illumina during the 4th quarter worth about $37,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Illumina by 86.8% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock worth $39,000 after purchasing an additional 132 shares during the period. 89.42% of the stock is owned by 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.