Illumina (NASDAQ:ILMN) Price Target Cut to $150.00 by Analysts at Morgan Stanley

Illumina (NASDAQ:ILMN) had its price objective reduced by Morgan Stanley from $156.00 to $150.00 in a report published on Monday morning,Benzinga reports. They currently have an equal weight rating on the life sciences company’s stock.

A number of other research firms have also recently weighed in on ILMN. Robert W. Baird increased their price objective on shares of Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. UBS Group raised their price target on shares of Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Barclays increased their price objective on Illumina from $135.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their target price on Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, Citigroup lowered Illumina from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $190.00 to $165.00 in a research report on Wednesday, December 11th. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $165.63.

Illumina Stock Performance

Shares of NASDAQ ILMN opened at $144.22 on Monday. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. The firm’s 50-day moving average price is $140.92 and its two-hundred day moving average price is $132.88. Illumina has a 52-week low of $100.08 and a 52-week high of $156.66. The stock has a market capitalization of $22.87 billion, a P/E ratio of -14.48 and a beta of 1.11.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Illumina will post 4.11 earnings per share for the current year.

Institutional Investors Weigh In On Illumina

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in Illumina by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,727,827 shares of the life sciences company’s stock worth $354,933,000 after purchasing an additional 48,018 shares in the last quarter. Primecap Management Co. CA boosted its holdings in shares of Illumina by 3.6% in the third quarter. Primecap Management Co. CA now owns 2,516,359 shares of the life sciences company’s stock worth $328,158,000 after buying an additional 87,599 shares during the period. Janus Henderson Group PLC increased its position in shares of Illumina by 40.5% in the third quarter. Janus Henderson Group PLC now owns 2,168,057 shares of the life sciences company’s stock worth $282,735,000 after acquiring an additional 625,245 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Illumina by 305.0% during the second quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock valued at $155,067,000 after acquiring an additional 1,118,747 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Illumina by 4.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,260,137 shares of the life sciences company’s stock valued at $164,334,000 after acquiring an additional 54,319 shares in the last quarter. 89.42% of the stock is 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.