Illumina (NASDAQ:ILMN) Receives Underweight Rating from Barclays

Illumina (NASDAQ:ILMN)‘s stock had its “underweight” rating reaffirmed by research analysts at Barclays in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They presently have a $85.00 price target on the life sciences company’s stock, up from their previous price target of $77.00. Barclays‘s target price would suggest a potential downside of 8.83% from the company’s current price.

A number of other research analysts have also issued reports on the company. Hsbc Global Res lowered Illumina from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. JPMorgan Chase & Co. decreased their price objective on shares of Illumina from $120.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. 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. Canaccord Genuity Group boosted their target price on Illumina from $87.00 to $99.00 and gave the stock a “hold” rating in a research note on Wednesday, June 11th. Finally, Guggenheim cut their price objective on shares of Illumina from $122.00 to $114.00 and set a “buy” rating on the stock in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $127.39.

Illumina Stock Performance

Shares of Illumina stock opened at $93.23 on Tuesday. The stock has a market capitalization of $14.76 billion, a price-to-earnings ratio of -15.36, a price-to-earnings-growth ratio of 1.80 and a beta of 1.32. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.86 and a quick ratio of 1.48. The business has a 50-day moving average of $81.76 and a 200 day moving average of $100.05. Illumina has a 12 month low of $68.70 and a 12 month high of $156.66.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Thursday, May 8th. The life sciences company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Illumina had a negative net margin of 22.25% and a positive return on equity of 25.54%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business posted $0.98 earnings per share. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Illumina will post 4.51 earnings per share for the current year.

Insider Transactions at Illumina

In related news, CFO Ankur Dhingra bought 6,100 shares of the company’s stock in a transaction on Monday, May 12th. The stock was bought at an average cost of $81.21 per share, with a total value of $495,381.00. Following the completion of the acquisition, the chief financial officer now owns 24,906 shares in the company, valued at approximately $2,022,616.26. This represents a 32.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Illumina

Institutional investors and hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC grew its holdings in Illumina by 171.2% in the first quarter. Acadian Asset Management LLC now owns 32,921 shares of the life sciences company’s stock valued at $2,608,000 after purchasing an additional 20,784 shares during the last quarter. Bayforest Capital Ltd boosted its position in shares of Illumina by 664.5% in the 1st quarter. Bayforest Capital Ltd now owns 3,058 shares of the life sciences company’s stock worth $243,000 after buying an additional 2,658 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Illumina by 51.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,960,385 shares of the life sciences company’s stock valued at $155,537,000 after acquiring an additional 667,978 shares during the last quarter. Empowered Funds LLC lifted its stake in Illumina by 113.7% in the 1st quarter. Empowered Funds LLC now owns 9,284 shares of the life sciences company’s stock valued at $737,000 after buying an additional 4,940 shares in the last quarter. Finally, Rise Advisors LLC increased its position in 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 buying an additional 224 shares in the last quarter. 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.