Illumina (NASDAQ:ILMN) Reaches New 12-Month Low Following Analyst Downgrade

Illumina, Inc. (NASDAQ:ILMN)’s share price hit a new 52-week low during mid-day trading on Wednesday after Morgan Stanley lowered their price target on the stock from $150.00 to $136.00. Morgan Stanley currently has an equal weight rating on the stock. Illumina traded as low as $99.35 and last traded at $100.45, with a volume of 123581 shares. The stock had previously closed at $100.68.

ILMN has been the topic of several other reports. Canaccord Genuity Group dropped their price target on shares of Illumina from $145.00 to $135.00 and set a “hold” rating on the stock in a research report on Friday, February 7th. Barclays cut shares of Illumina from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $130.00 to $100.00 in a report on Monday. Stephens raised their target price on shares of Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Robert W. Baird boosted their price target on Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, Piper Sandler raised their price objective on Illumina from $185.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $159.45.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Thoroughbred Financial Services LLC grew its position in Illumina by 65.3% during the fourth quarter. Thoroughbred Financial Services LLC now owns 2,662 shares of the life sciences company’s stock worth $355,000 after buying an additional 1,052 shares in the last quarter. Uniting Wealth Partners LLC acquired a new stake in shares of Illumina during the 4th quarter worth $802,000. Huntington National Bank grew its holdings in shares of Illumina by 279.4% during the 4th quarter. Huntington National Bank now owns 1,954 shares of the life sciences company’s stock worth $261,000 after purchasing an additional 1,439 shares in the last quarter. Scholtz & Company LLC bought a new position in shares of Illumina in the fourth quarter worth $2,844,000. Finally, Groupama Asset Managment raised its stake in Illumina by 12.9% in the fourth quarter. Groupama Asset Managment now owns 5,082 shares of the life sciences company’s stock valued at $679,000 after purchasing an additional 579 shares in the last quarter. 89.42% of the stock is owned by institutional investors.

Illumina Price Performance

The firm has a market cap of $16.43 billion, a P/E ratio of -13.49 and a beta of 1.10. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. The company’s 50-day moving average is $135.10 and its two-hundred day moving average is $135.34.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a positive return on equity of 12.59% and a negative net margin of 27.95%. Sell-side analysts anticipate that Illumina, Inc. will post 4.42 EPS for the current fiscal year.

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.