Illumina (NASDAQ:ILMN) Trading Up 5.4%

Illumina, Inc. (NASDAQ:ILMN)’s stock price traded up 5.4% during trading on Wednesday . The stock traded as high as $136.82 and last traded at $135.93. 1,002,713 shares changed hands during trading, a decline of 50% from the average session volume of 2,011,567 shares. The stock had previously closed at $128.98.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ILMN shares. Argus raised Illumina from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Wednesday, August 28th. UBS Group upped their target price on Illumina from $131.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Piper Sandler cut their price objective on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Evercore ISI lowered their target price on Illumina from $195.00 to $175.00 and set an “outperform” rating for the company in a research note on Tuesday, June 11th. Finally, Scotiabank decreased their target price on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $152.05.

Illumina Stock Up 6.3 %

The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11. The company has a market cap of $21.84 billion, a P/E ratio of -16.75 and a beta of 1.15. The stock has a 50 day moving average price of $126.88 and a 200 day moving average price of $120.29.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.24. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the firm earned $0.32 earnings per share. The business’s quarterly revenue was down 5.4% on a year-over-year basis. Research analysts expect that Illumina, Inc. will post 3.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ILMN. Trivant Custom Portfolio Group LLC increased its position in Illumina by 166.7% during the first quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock worth $27,000 after buying an additional 125 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Illumina by 292.9% in the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after purchasing an additional 246 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Illumina during the 2nd quarter valued at about $34,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Illumina by 86.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock valued at $39,000 after purchasing an additional 132 shares during the period. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in Illumina during the fourth quarter worth $56,000. 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.