Royal Bank of Canada Cuts Illumina (NASDAQ:ILMN) Price Target to $247.00

Illumina (NASDAQ:ILMN) had its target price reduced by Royal Bank of Canada from $250.00 to $247.00 in a report published on Friday morning,Benzinga reports. They currently have an outperform rating on the life sciences company’s stock.

A number of other research firms have also weighed in on ILMN. Morgan Stanley dropped their price objective on shares of Illumina from $156.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Hsbc Global Res upgraded Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price target for the company in a research note on Thursday, October 17th. HSBC raised Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research note on Thursday, October 17th. Citigroup cut Illumina from a “buy” rating to a “neutral” rating and cut their target price for the company from $190.00 to $165.00 in a research report on Wednesday, December 11th. Finally, Barclays lowered their price target on 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 given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $161.40.

Illumina Stock Performance

Shares of ILMN opened at $111.06 on Friday. Illumina has a one year low of $100.08 and a one year high of $156.66. The company has a market cap of $17.61 billion, a PE ratio of -14.46 and a beta of 1.10. The stock has a 50-day moving average of $136.70 and a 200-day moving average of $135.43. 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 released 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%. On average, equities research analysts predict that Illumina will post 4.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Illumina

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zacks Investment Management purchased a new stake in shares of Illumina during the third quarter worth $2,924,000. Freemont Management S.A. purchased a new position in Illumina during the 3rd quarter valued at about $1,565,000. Assenagon Asset Management S.A. increased its position in shares of Illumina by 5.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 42,748 shares of the life sciences company’s stock valued at $5,712,000 after buying an additional 2,338 shares during the period. CCLA Investment Management lifted its holdings in shares of Illumina by 20.5% in the fourth quarter. CCLA Investment Management now owns 535,050 shares of the life sciences company’s stock worth $71,493,000 after buying an additional 91,122 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Illumina by 65.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 32,806 shares of the life sciences company’s stock valued at $4,278,000 after acquiring an additional 12,986 shares during the period. Institutional investors 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.