Illumina (NASDAQ:ILMN) Shares Gap Down on Analyst Downgrade

Illumina, Inc. (NASDAQ:ILMN) shares gapped down prior to trading on Tuesday after Barclays lowered their price target on the stock from $145.00 to $130.00. The stock had previously closed at $131.10, but opened at $125.17. Barclays currently has an equal weight rating on the stock. Illumina shares last traded at $125.01, with a volume of 816,967 shares trading hands.

A number of other equities research analysts also recently weighed in on the company. Citigroup downgraded Illumina from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $190.00 to $165.00 in a report on Wednesday, December 11th. Piper Sandler dropped their price objective on shares of Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. TD Cowen increased their target price on shares of Illumina from $166.00 to $177.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Morgan Stanley cut their price target on Illumina from $156.00 to $150.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Finally, Hsbc Global Res upgraded Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price objective on the stock in a research note on Thursday, October 17th. Eight analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Illumina presently has a consensus rating of “Moderate Buy” and an average target price of $164.84.

Institutional Trading of Illumina

Hedge funds have recently added to or reduced their stakes in the stock. Creative Planning boosted its holdings in shares of Illumina by 3.4% during the 2nd quarter. Creative Planning now owns 16,144 shares of the life sciences company’s stock valued at $1,685,000 after acquiring an additional 525 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Illumina by 25.8% during the second quarter. Cetera Investment Advisers now owns 18,384 shares of the life sciences company’s stock valued at $1,919,000 after purchasing an additional 3,767 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Illumina during the second quarter valued at about $2,331,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Illumina by 403.0% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,626 shares of the life sciences company’s stock worth $1,527,000 after purchasing an additional 11,718 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its stake in shares of Illumina by 6.4% in the third quarter. Handelsbanken Fonder AB now owns 76,280 shares of the life sciences company’s stock valued at $9,948,000 after buying an additional 4,558 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Trading Down 5.3 %

The business’s fifty day moving average is $138.57 and its 200-day moving average is $135.43. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. The firm has a market cap of $19.70 billion, a P/E ratio of -12.47 and a beta of 1.10.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. Illumina’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. Analysts predict that Illumina, Inc. will post 4.13 EPS for the current year.

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.