Illumina (NASDAQ:ILMN) Shares Gap Down After Analyst Downgrade

Shares of Illumina, Inc. (NASDAQ:ILMN) gapped down before the market opened on Monday after Barclays downgraded the stock from an equal weight rating to an underweight rating. The stock had previously closed at $111.06, but opened at $105.69. Barclays now has a $100.00 price target on the stock, down from their previous price target of $130.00. Illumina shares last traded at $103.52, with a volume of 1,108,817 shares traded.

A number of other research analysts have also commented on ILMN. Hsbc Global Res upgraded Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price target for the company in a report on Thursday, October 17th. Royal Bank of Canada cut their price target on Illumina from $250.00 to $247.00 and set an “outperform” rating for the company in a report on Friday. Robert W. Baird boosted their price objective on Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Citigroup cut Illumina from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $190.00 to $165.00 in a research report on Wednesday, December 11th. Finally, Piper Sandler lowered their price objective on Illumina from $195.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have issued 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 stock has an average rating of “Moderate Buy” and an average target price of $160.15.

Institutional Investors Weigh In On Illumina

A number of hedge funds have recently modified their holdings of the business. Cetera Investment Advisers raised its position in Illumina by 25.8% in the 2nd quarter. Cetera Investment Advisers now owns 18,384 shares of the life sciences company’s stock valued at $1,919,000 after buying an additional 3,767 shares during the last quarter. CWM LLC increased its position in shares of Illumina by 179.8% during the 3rd quarter. CWM LLC now owns 16,207 shares of the life sciences company’s stock worth $2,114,000 after purchasing an additional 10,414 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Illumina by 23.7% during the 3rd quarter. UMB Bank n.a. now owns 1,659 shares of the life sciences company’s stock worth $216,000 after acquiring an additional 318 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Illumina by 323.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,047 shares of the life sciences company’s stock worth $136,000 after acquiring an additional 800 shares during the last quarter. Finally, Valeo Financial Advisors LLC acquired a new position in shares of Illumina during the 3rd quarter worth approximately $276,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Price Performance

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 firm has a market capitalization of $16.26 billion, a price-to-earnings ratio of -13.29 and a beta of 1.10. The business has a fifty day moving average of $136.70 and a two-hundred day moving average of $135.56.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a positive return on equity of 12.59% and a negative net margin of 27.95%. As a group, research analysts predict that Illumina, Inc. will post 4.42 EPS for the current fiscal year.

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.