Robert W. Baird Issues Positive Forecast for Illumina (NASDAQ:ILMN) Stock Price

Illumina (NASDAQ:ILMN) had its price target boosted by Robert W. Baird from $124.00 to $139.00 in a research report report published on Wednesday, Benzinga reports. They currently have a neutral rating on the life sciences company’s stock.

Other analysts also recently issued research reports about the company. HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Thursday, October 17th. Argus raised Illumina from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research note on Wednesday, August 28th. UBS Group boosted their target price on Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their target price on Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Citigroup boosted their target price on Illumina from $155.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Illumina presently has an average rating of “Moderate Buy” and a consensus price target of $162.18.

Illumina Price Performance

NASDAQ:ILMN traded up $1.36 during mid-day trading on Wednesday, reaching $153.19. The stock had a trading volume of 93,966 shares, compared to its average volume of 1,998,688. The firm has a 50 day moving average price of $137.27 and a two-hundred day moving average price of $123.12. The stock has a market capitalization of $24.40 billion, a P/E ratio of -15.24 and a beta of 1.13. Illumina has a one year low of $89.00 and a one year high of $156.66. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11.

Illumina (NASDAQ:ILMN) last released its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. Illumina had a positive return on equity of 6.36% and a negative net margin of 36.10%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the company posted $0.33 EPS. Illumina’s quarterly revenue was down 3.5% compared to the same quarter last year. As a group, analysts expect that Illumina will post 3.62 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ILMN. Versant Capital Management Inc raised its stake in shares of Illumina by 292.9% in the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after buying an additional 246 shares during the period. Industrial Alliance Investment Management Inc. bought a new position in shares of Illumina in the second quarter worth about $34,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Illumina by 65.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock worth $56,000 after buying an additional 168 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of Illumina in the second quarter worth about $61,000. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of Illumina in the second quarter worth about $63,000. Institutional investors own 89.42% of the company’s stock.

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.