Illumina (NASDAQ:ILMN) Downgraded to “Hold” Rating by TD Cowen

TD Cowen downgraded shares of Illumina (NASDAQ:ILMN) from a buy rating to a hold rating in a research report report published on Friday morning, MarketBeat Ratings reports. They currently have $140.00 target price on the life sciences company’s stock, down from their previous target price of $177.00.

A number of other analysts also recently issued reports on ILMN. Citigroup downgraded shares of Illumina from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $190.00 to $165.00 in a report on Wednesday, December 11th. Morgan Stanley lowered their target price on shares of Illumina from $156.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Piper Sandler cut their price target on Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Barclays reduced their price target on Illumina from $145.00 to $130.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Finally, HSBC raised Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a report on Thursday, October 17th. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.40.

Illumina Trading Down 9.6 %

NASDAQ ILMN opened at $111.06 on Friday. The company has a fifty day moving average of $136.70 and a 200 day moving average of $135.29. The company has a market capitalization of $17.61 billion, a PE ratio of -14.46 and a beta of 1.10. Illumina has a 1 year low of $100.08 and a 1 year high of $156.66. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ILMN. Zacks Investment Management purchased a new position in Illumina during the third quarter worth approximately $2,924,000. Freemont Management S.A. purchased a new position in shares of Illumina during the 3rd quarter worth $1,565,000. Assenagon Asset Management S.A. boosted its position in shares of Illumina by 5.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 42,748 shares of the life sciences company’s stock valued at $5,712,000 after acquiring an additional 2,338 shares during the last quarter. CCLA Investment Management grew its holdings in shares of Illumina by 20.5% in the fourth quarter. CCLA Investment Management now owns 535,050 shares of the life sciences company’s stock valued at $71,493,000 after purchasing an additional 91,122 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its position in Illumina by 65.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 32,806 shares of the life sciences company’s stock worth $4,278,000 after purchasing an additional 12,986 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

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.