Illumina, Inc. (NASDAQ:ILMN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Illumina, Inc. (NASDAQ:ILMN) have been given an average recommendation of “Moderate Buy” by the twenty brokerages that are presently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $165.63.

ILMN has been the topic of several recent analyst reports. Citigroup downgraded Illumina from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $190.00 to $165.00 in a research report on Wednesday, December 11th. Hsbc Global Res upgraded shares of Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 target price for the company in a research note on Thursday, October 17th. Leerink Partners raised their price target on shares of Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Piper Sandler cut their price objective on shares of Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, Canaccord Genuity Group lifted their target price on Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ILMN. Zacks Investment Management acquired a new stake in Illumina during the 3rd quarter valued at $2,924,000. Freemont Management S.A. bought a new stake in shares of Illumina during the third quarter worth $1,565,000. Weybosset Research & Management LLC increased its stake in shares of Illumina by 92.0% in the third quarter. Weybosset Research & Management LLC now owns 18,052 shares of the life sciences company’s stock valued at $2,354,000 after buying an additional 8,650 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Illumina by 5.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 42,748 shares of the life sciences company’s stock valued at $5,712,000 after buying an additional 2,338 shares during the last quarter. Finally, CCLA Investment Management lifted its position in Illumina by 20.5% during the 4th quarter. CCLA Investment Management now owns 535,050 shares of the life sciences company’s stock worth $71,493,000 after buying an additional 91,122 shares in the last quarter. Institutional investors own 89.42% of the company’s stock.

Illumina Price Performance

Shares of Illumina stock opened at $136.22 on Monday. Illumina has a 1-year low of $100.08 and a 1-year high of $156.66. The firm has a fifty day simple moving average of $138.91 and a 200-day simple moving average of $134.26. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $21.60 billion, a price-to-earnings ratio of -13.68 and a beta of 1.11.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 earnings per share. On average, sell-side analysts expect that Illumina will post 4.13 earnings per share for the current 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.