Barclays Increases Illumina (NASDAQ:ILMN) Price Target to $85.00

Illumina (NASDAQ:ILMN) had its target price hoisted by stock analysts at Barclays from $77.00 to $85.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the life sciences company’s stock. Barclays‘s target price suggests a potential downside of 6.34% from the stock’s current price.

A number of other equities research analysts have also issued reports on ILMN. Robert W. Baird dropped their target price on shares of Illumina from $127.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Guggenheim dropped their price objective on shares of Illumina from $122.00 to $114.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Canaccord Genuity Group increased their price objective on shares of Illumina from $87.00 to $99.00 and gave the company a “hold” rating in a report on Wednesday, June 11th. Stephens restated an “overweight” rating and set a $105.00 target price on shares of Illumina in a report on Tuesday, May 20th. Finally, Hsbc Global Res cut Illumina from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $127.39.

Illumina Price Performance

Shares of Illumina stock traded up $0.14 during mid-day trading on Tuesday, reaching $90.75. 524,570 shares of the stock traded hands, compared to its average volume of 2,138,714. The stock has a market capitalization of $14.37 billion, a PE ratio of -14.95, a PEG ratio of 1.78 and a beta of 1.33. The business has a 50-day moving average of $81.03 and a 200 day moving average of $100.16. Illumina has a fifty-two week low of $68.70 and a fifty-two week high of $156.66. The company has a quick ratio of 1.48, a current ratio of 1.86 and a debt-to-equity ratio of 0.63.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. Illumina had a positive return on equity of 25.54% and a negative net margin of 22.25%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the business earned $0.98 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, analysts predict that Illumina will post 4.51 EPS for the current year.

Insider Buying and Selling

In other news, CFO Ankur Dhingra bought 6,100 shares of the business’s stock in a transaction on Monday, May 12th. The shares were bought at an average price of $81.21 per share, with a total value of $495,381.00. Following the completion of the transaction, the chief financial officer now directly owns 24,906 shares in the company, valued at $2,022,616.26. This trade represents a 32.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ILMN. Rise Advisors LLC lifted its position in shares of Illumina by 173.6% during the first quarter. Rise Advisors LLC now owns 353 shares of the life sciences company’s stock worth $28,000 after purchasing an additional 224 shares in the last quarter. Rakuten Securities Inc. increased its stake in Illumina by 290.3% during the 1st quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company’s stock worth $29,000 after buying an additional 270 shares during the period. Center for Financial Planning Inc. acquired a new stake in Illumina during the 1st quarter worth approximately $33,000. Fourth Dimension Wealth LLC purchased a new position in Illumina in the 4th quarter valued at approximately $40,000. Finally, PFS Partners LLC grew its stake in shares of Illumina by 400.0% in the first quarter. PFS Partners LLC now owns 500 shares of the life sciences company’s stock worth $40,000 after acquiring an additional 400 shares in the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

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.