Illumina (NASDAQ:ILMN) Lifted to Equal Weight at Barclays

Barclays upgraded shares of Illumina (NASDAQ:ILMN) from an underweight rating to an equal weight rating in a report published on Wednesday, MarketBeat reports. Barclays currently has $125.00 target price on the life sciences company’s stock.

Other analysts also recently issued research reports about the stock. Citigroup raised their price objective on shares of Illumina from $140.00 to $155.00 and gave the stock a buy rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price objective on shares of Illumina from $130.00 to $125.00 and set a neutral rating for the company in a research note on Wednesday, August 7th. StockNews.com initiated coverage on shares of Illumina in a research note on Tuesday, August 13th. They issued a buy rating for the company. Evercore ISI reduced their target price on shares of Illumina from $195.00 to $175.00 and set an outperform rating on the stock in a research report on Tuesday, June 11th. Finally, Robert W. Baird raised their target price on shares of Illumina from $119.00 to $124.00 and gave the stock a neutral rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Illumina presently has an average rating of Moderate Buy and a consensus price target of $151.10.

Illumina Stock Up 1.2 %

Shares of NASDAQ:ILMN opened at $130.31 on Wednesday. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. Illumina has a 12 month low of $89.00 and a 12 month high of $172.69. The company has a 50-day moving average price of $114.68 and a 200 day moving average price of $122.38. The company has a market cap of $20.76 billion, a price-to-earnings ratio of -15.99 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.24. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 EPS. As a group, equities research analysts predict that Illumina will post 1.5 earnings per share for the current year.

Hedge Funds Weigh In On Illumina

Several institutional investors and hedge funds have recently bought and sold shares of ILMN. WCM Investment Management LLC grew its holdings in Illumina by 2,232.3% in the first quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock worth $463,760,000 after purchasing an additional 3,232,418 shares during the last quarter. Primecap Management Co. CA lifted its stake in shares of Illumina by 462.5% during the second quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock worth $253,514,000 after buying an additional 1,997,010 shares during the period. Capital World Investors acquired a new stake in shares of Illumina during the fourth quarter worth $271,753,000. Norges Bank acquired a new stake in shares of Illumina during the fourth quarter worth $264,636,000. Finally, Millennium Management LLC lifted its stake in shares of Illumina by 305.0% during the second quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock worth $155,067,000 after buying an additional 1,118,747 shares during the period. 89.42% of the stock is owned by hedge funds and other 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.