Illumina (NASDAQ:ILMN) Price Target Cut to $242.00

Illumina (NASDAQ:ILMN) had its price objective reduced by Royal Bank of Canada from $249.00 to $242.00 in a research note issued to investors on Monday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the life sciences company’s stock.

ILMN has been the topic of several other reports. Barclays increased their target price on shares of Illumina from $85.00 to $100.00 and gave the company an underweight rating in a research report on Wednesday, April 10th. Scotiabank lowered their target price on shares of Illumina from $185.00 to $176.00 and set a sector outperform rating for the company in a research note on Monday, May 6th. Stephens reaffirmed an overweight rating and set a $170.00 price target on shares of Illumina in a research report on Tuesday, May 7th. OTR Global reissued a mixed rating on shares of Illumina in a research report on Wednesday, March 20th. Finally, StockNews.com initiated coverage on Illumina in a research report on Sunday, June 30th. They set a buy rating on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $157.62.

Illumina Price Performance

ILMN stock opened at $105.28 on Monday. The company has a market capitalization of $16.77 billion, a P/E ratio of -12.92 and a beta of 1.15. The company has a fifty day moving average price of $110.60 and a 200-day moving average price of $126.84. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 1.75. Illumina has a 52-week low of $89.00 and a 52-week high of $195.64.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 earnings per share. As a group, equities analysts expect that Illumina will post 0.98 EPS for the current year.

Institutional Investors Weigh In On Illumina

Hedge funds and other institutional investors have recently made changes to their positions in the business. Transcend Capital Advisors LLC grew its holdings in Illumina by 56.0% during the second quarter. Transcend Capital Advisors LLC now owns 5,227 shares of the life sciences company’s stock worth $546,000 after buying an additional 1,877 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Illumina by 0.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 102,049 shares of the life sciences company’s stock worth $13,969,000 after acquiring an additional 805 shares during the last quarter. Cetera Advisors LLC bought a new stake in shares of Illumina in the 1st quarter worth $610,000. Cetera Investment Advisers raised its holdings in shares of Illumina by 361.1% in the first quarter. Cetera Investment Advisers now owns 14,617 shares of the life sciences company’s stock valued at $2,007,000 after purchasing an additional 11,447 shares during the last quarter. Finally, PGGM Investments lifted its position in shares of Illumina by 7.4% during the first quarter. PGGM Investments now owns 227,578 shares of the life sciences company’s stock valued at $31,251,000 after purchasing an additional 15,744 shares in the last quarter. 89.42% of the stock is owned by institutional investors.

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.