Illumina (NASDAQ:ILMN) Price Target Cut to $135.00 by Analysts at Canaccord Genuity Group

Illumina (NASDAQ:ILMN) had its target price reduced by Canaccord Genuity Group from $145.00 to $135.00 in a report published on Friday morning,Benzinga reports. They currently have a hold rating on the life sciences company’s stock.

Other equities research analysts have also recently issued research reports about the company. Citigroup cut Illumina from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $190.00 to $165.00 in a report on Wednesday, December 11th. UBS Group upped their target price on Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on Illumina from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. TD Cowen downgraded shares of Illumina from a “buy” rating to a “hold” rating and dropped their target price for the company from $177.00 to $140.00 in a report on Friday. Finally, Barclays cut their target price on shares of Illumina from $145.00 to $130.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $161.40.

Illumina Trading Down 9.6 %

Illumina stock opened at $111.06 on Friday. Illumina has a one year low of $100.08 and a one year high of $156.66. The business has a fifty day moving average of $137.37 and a two-hundred day moving average of $135.34. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 12.59%. Research analysts forecast that Illumina will post 4.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ILMN. Golden State Wealth Management LLC purchased a new position in shares of Illumina in the 4th quarter worth about $32,000. Versant Capital Management Inc raised its holdings in Illumina by 153.7% in the fourth quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock valued at $32,000 after buying an additional 146 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Illumina during the fourth quarter valued at approximately $45,000. Assetmark Inc. grew its stake in Illumina by 954.8% during the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock worth $44,000 after buying an additional 296 shares during the period. Finally, TD Private Client Wealth LLC increased its position in shares of Illumina by 58.5% in the third quarter. TD Private Client Wealth LLC now owns 382 shares of the life sciences company’s stock worth $50,000 after acquiring an additional 141 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

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.