Morgan Stanley Cuts Illumina (NASDAQ:ILMN) Price Target to $150.00

Illumina (NASDAQ:ILMN) had its price target dropped by Morgan Stanley from $156.00 to $150.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the life sciences company’s stock. Morgan Stanley’s price objective suggests a potential upside of 4.13% from the company’s previous close.

ILMN has been the topic of several other reports. Leerink Partners increased their price target on shares of Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Canaccord Genuity Group increased their price objective on shares of Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. TD Cowen increased their target price on shares of Illumina from $166.00 to $177.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Barclays increased their target price on shares of Illumina from $135.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Finally, Hsbc Global Res upgraded shares of Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 target price on the stock in a report on Thursday, October 17th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $165.63.

Illumina Price Performance

Illumina stock traded up $7.36 during trading hours on Monday, hitting $144.05. 1,274,905 shares of the stock were exchanged, compared to its average volume of 1,409,781. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. The stock has a market capitalization of $22.85 billion, a P/E ratio of -14.46 and a beta of 1.11. Illumina has a 12 month low of $100.08 and a 12 month high of $156.66. The business’s 50-day moving average is $141.11 and its two-hundred day moving average is $132.61.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.26. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the firm earned $0.33 earnings per share. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. Equities research analysts expect that Illumina will post 4.11 EPS for the current fiscal year.

Institutional Trading of Illumina

Hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc boosted its holdings in shares of Illumina by 153.7% during the 4th quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock worth $32,000 after buying an additional 146 shares during the period. TD Private Client Wealth LLC boosted its holdings in shares of Illumina by 58.5% during the 3rd quarter. TD Private Client Wealth LLC now owns 382 shares of the life sciences company’s stock worth $50,000 after buying an additional 141 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Illumina by 65.1% during the 3rd 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 stake in shares of Illumina during the 2nd quarter worth about $61,000. Finally, Private Trust Co. NA boosted its holdings in shares of Illumina by 81.2% during the 3rd quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock worth $62,000 after buying an additional 212 shares during the period. 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.