Illumina, Inc. (NASDAQ:ILMN) Given Consensus Rating of “Moderate Buy” by Brokerages

Illumina, Inc. (NASDAQ:ILMN) has earned an average recommendation of “Moderate Buy” from the twenty brokerages that are presently covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $165.95.

ILMN has been the subject of a number of recent research reports. Barclays boosted their target price on shares of Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada boosted their price objective on shares of Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Leerink Partners raised their target price on shares of Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Piper Sandler cut their price target on Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Finally, HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Thursday, October 17th.

Illumina Stock Down 1.3 %

Shares of ILMN opened at $133.57 on Thursday. The firm has a market cap of $21.18 billion, a P/E ratio of -13.41 and a beta of 1.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. Illumina has a 52 week low of $100.08 and a 52 week high of $156.66. The firm’s 50-day simple moving average is $142.59 and its 200 day simple moving average is $130.84.

Illumina (NASDAQ:ILMN) last posted its earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.88 by $0.26. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 earnings per share. On average, analysts forecast that Illumina will post 4.11 earnings per share for the current year.

Hedge Funds Weigh In On Illumina

A number of institutional investors have recently added to or reduced their stakes in ILMN. Primecap Management Co. CA raised its position in Illumina by 462.5% in the second quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock valued at $253,514,000 after purchasing an additional 1,997,010 shares during the last quarter. Millennium Management LLC raised its holdings in Illumina by 305.0% in the 2nd quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock valued at $155,067,000 after buying an additional 1,118,747 shares during the last quarter. Marshall Wace LLP acquired a new stake in Illumina during the 2nd quarter worth approximately $77,628,000. Massachusetts Financial Services Co. MA increased its position in Illumina by 148.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,056,172 shares of the life sciences company’s stock valued at $137,735,000 after acquiring an additional 631,294 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of Illumina by 40.5% during the third quarter. Janus Henderson Group PLC now owns 2,168,057 shares of the life sciences company’s stock valued at $282,735,000 after acquiring an additional 625,245 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

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.