Citigroup Cuts Illumina (NASDAQ:ILMN) Price Target to $85.00

Illumina (NASDAQ:ILMN) had its price target lowered by Citigroup from $90.00 to $85.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the life sciences company’s stock.

A number of other research analysts have also weighed in on the company. HSBC lowered Illumina from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a report on Friday, February 28th. Robert W. Baird dropped their price objective on Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Piper Sandler upped their target price on shares of Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Guggenheim dropped their price target on shares of Illumina from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Finally, Stephens reaffirmed an “overweight” rating and issued a $156.00 price objective on shares of Illumina in a research report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $139.85.

Illumina Stock Up 8.5 %

ILMN stock opened at $76.30 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. Illumina has a fifty-two week low of $68.70 and a fifty-two week high of $156.66. The stock’s 50 day simple moving average is $90.77 and its 200 day simple moving average is $123.08. The company has a market cap of $12.09 billion, a P/E ratio of -9.93, a price-to-earnings-growth ratio of 1.60 and a beta of 1.38.

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, research analysts expect that Illumina will post 4.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Captrust Financial Advisors grew its position in Illumina by 6.5% during the third quarter. Captrust Financial Advisors now owns 8,576 shares of the life sciences company’s stock worth $1,118,000 after buying an additional 524 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Illumina by 4.7% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,990 shares of the life sciences company’s stock valued at $390,000 after acquiring an additional 135 shares during the last quarter. Quantinno Capital Management LP grew its holdings in shares of Illumina by 29.5% during the third quarter. Quantinno Capital Management LP now owns 12,644 shares of the life sciences company’s stock worth $1,649,000 after purchasing an additional 2,879 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Illumina by 2.5% in the third quarter. Wellington Management Group LLP now owns 30,946 shares of the life sciences company’s stock worth $4,036,000 after purchasing an additional 755 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC purchased a new stake in Illumina in the third quarter valued at approximately $414,000. 89.42% of the stock is owned by institutional investors.

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.