Illumina (NASDAQ:ILMN) Hits New 12-Month Low – Here’s Why

Illumina, Inc. (NASDAQ:ILMN)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $79.97 and last traded at $80.00, with a volume of 429084 shares changing hands. The stock had previously closed at $82.28.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ILMN shares. Stephens reaffirmed an “overweight” rating and set a $156.00 price target on shares of Illumina in a research report on Tuesday, March 11th. Citigroup dropped their price objective on shares of Illumina from $130.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Morgan Stanley reduced their price target on shares of Illumina from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Piper Sandler increased their price objective on shares of Illumina from $185.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, Royal Bank of Canada decreased their target price on shares of Illumina from $247.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.90.

Illumina Price Performance

The stock has a market capitalization of $12.67 billion, a price-to-earnings ratio of -10.42, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17. The stock has a 50 day moving average price of $102.80 and a 200-day moving average price of $126.81. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42.

Illumina (NASDAQ:ILMN) last issued its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. On average, analysts forecast that Illumina, Inc. will post 4.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ILMN. 111 Capital acquired a new stake in shares of Illumina during the fourth quarter worth about $223,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Illumina by 13.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,197 shares of the life sciences company’s stock worth $2,699,000 after purchasing an additional 2,421 shares during the last quarter. PKO Investment Management Joint Stock Co acquired a new stake in shares of Illumina during the fourth quarter worth $200,000. Probity Advisors Inc. grew its position in Illumina by 12.2% in the 4th quarter. Probity Advisors Inc. now owns 2,054 shares of the life sciences company’s stock valued at $274,000 after buying an additional 224 shares during the last quarter. Finally, Siemens Fonds Invest GmbH lifted its stake in shares of Illumina by 84.8% in the 4th quarter. Siemens Fonds Invest GmbH now owns 6,119 shares of the life sciences company’s stock worth $818,000 after acquiring an additional 2,807 shares during the period. Institutional investors and hedge funds 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.