Illumina, Inc. (NASDAQ:ILMN) Given Consensus Rating of “Moderate Buy” by Analysts

Illumina, Inc. (NASDAQ:ILMN) has been given a consensus recommendation of “Moderate Buy” by the twenty-four research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, thirteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $161.50.

ILMN has been the subject of a number of recent analyst reports. Piper Sandler reduced their target price on Illumina from $200.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. Robert W. Baird increased their target price on shares of Illumina from $119.00 to $124.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. StockNews.com initiated coverage on shares of Illumina in a research report on Thursday, August 29th. They set a “buy” rating for the company. HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research report on Thursday, October 17th. Finally, Citigroup boosted their target price on Illumina from $155.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday.

Institutional Investors Weigh In On Illumina

Several institutional investors have recently bought and sold shares of ILMN. Primecap Management Co. CA lifted its position in Illumina by 462.5% in the second quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock valued at $253,514,000 after purchasing an additional 1,997,010 shares during the last quarter. Millennium Management LLC raised its holdings in Illumina by 305.0% during the 2nd quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock valued at $155,067,000 after buying an additional 1,118,747 shares during the last quarter. Capital World Investors boosted its position in Illumina by 41.1% during the 1st quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company’s stock valued at $378,111,000 after buying an additional 801,814 shares during the period. Marshall Wace LLP purchased a new stake in Illumina during the 2nd quarter valued at $77,628,000. Finally, Swedbank AB bought a new stake in Illumina in the 1st quarter worth $99,682,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Stock Performance

NASDAQ ILMN opened at $154.96 on Wednesday. The firm has a market cap of $24.69 billion, a P/E ratio of -8.09 and a beta of 1.13. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 1.04. The company’s 50 day moving average is $136.87 and its 200-day moving average is $122.92. Illumina has a 12-month low of $89.00 and a 12-month high of $156.66.

Illumina (NASDAQ:ILMN) last issued its earnings results 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 negative net margin of 68.73% and a positive return on equity of 3.08%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations 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. Sell-side analysts predict that Illumina will post 3.62 earnings per share for the current 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.