Illumina (NASDAQ:ILMN) Reaches New 1-Year Low After Analyst Downgrade

Illumina, Inc. (NASDAQ:ILMN)’s share price reached a new 52-week low during mid-day trading on Wednesday after Morgan Stanley lowered their price target on the stock from $150.00 to $136.00. Morgan Stanley currently has an equal weight rating on the stock. Illumina traded as low as $99.35 and last traded at $100.45, with a volume of 123581 shares changing hands. The stock had previously closed at $100.68.

Other equities analysts have also recently issued research reports about the company. Citigroup cut Illumina from a “buy” rating to a “neutral” rating and decreased their price target for the company from $190.00 to $165.00 in a report on Wednesday, December 11th. Canaccord Genuity Group decreased their price target on Illumina from $145.00 to $135.00 and set a “hold” rating on the stock in a report on Friday, February 7th. Royal Bank of Canada decreased their price target on Illumina from $250.00 to $247.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. UBS Group raised their target price on Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Leerink Partners raised their target price on Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $159.45.

Institutional Investors Weigh In On Illumina

A number of hedge funds have recently modified their holdings of the business. Empowered Funds LLC raised its position in shares of Illumina by 1.7% during the third quarter. Empowered Funds LLC now owns 3,960 shares of the life sciences company’s stock worth $516,000 after purchasing an additional 66 shares during the period. Bank of Stockton raised its position in Illumina by 3.8% in the 4th quarter. Bank of Stockton now owns 2,162 shares of the life sciences company’s stock valued at $289,000 after buying an additional 80 shares during the last quarter. Caprock Group LLC raised its position in Illumina by 3.0% in the 3rd quarter. Caprock Group LLC now owns 2,884 shares of the life sciences company’s stock valued at $376,000 after buying an additional 83 shares during the last quarter. Integrated Advisors Network LLC raised its position in Illumina by 2.0% in the 3rd quarter. Integrated Advisors Network LLC now owns 4,484 shares of the life sciences company’s stock valued at $585,000 after buying an additional 90 shares during the last quarter. Finally, Stephens Inc. AR raised its position in Illumina by 1.4% in the 4th quarter. Stephens Inc. AR now owns 6,623 shares of the life sciences company’s stock valued at $885,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Stock Performance

The stock has a 50-day moving average of $134.32 and a 200-day moving average of $135.12. The firm has a market cap of $16.14 billion, a price-to-earnings ratio of -13.25 and a beta of 1.10. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43.

Illumina (NASDAQ:ILMN) last announced its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 12.59%. As a group, analysts anticipate that Illumina, Inc. will post 4.42 EPS for the current fiscal year.

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.