Illumina (NASDAQ:ILMN) Receives Overweight Rating from Stephens

Stephens reiterated their overweight rating on shares of Illumina (NASDAQ:ILMN) in a research note released on Tuesday,Benzinga reports. They currently have a $105.00 target price on the life sciences company’s stock.

Several other analysts have also issued reports on the stock. Robert W. Baird dropped their target price on shares of Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Barclays lowered their price objective on Illumina from $100.00 to $77.00 and set an “underweight” rating on the stock in a report on Thursday, April 10th. Morgan Stanley cut their price objective on Illumina from $136.00 to $100.00 and set an “equal weight” rating for the company in a research note on Monday, May 12th. Guggenheim decreased their target price on Illumina from $122.00 to $114.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Finally, Canaccord Genuity Group lowered their price target on Illumina from $92.00 to $87.00 and set a “hold” rating on the stock in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $128.15.

Illumina Stock Performance

Shares of ILMN stock opened at $84.21 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. Illumina has a 12-month low of $68.70 and a 12-month high of $156.66. The business’s 50 day moving average is $78.46 and its two-hundred day moving average is $110.24. The company has a market capitalization of $13.33 billion, a P/E ratio of -10.96, a P/E/G ratio of 1.60 and a beta of 1.35.

Illumina (NASDAQ:ILMN) last announced its earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the firm posted $0.98 EPS. The business’s revenue was down 1.4% on a year-over-year basis. Analysts expect that Illumina will post 4.51 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Ankur Dhingra bought 6,100 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were bought at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the acquisition, the chief financial officer now directly owns 24,906 shares of the company’s stock, valued at $2,022,616.26. This trade represents a 32.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 2.60% of the stock is owned by company insiders.

Institutional Trading of Illumina

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its position in Illumina by 5.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 42,748 shares of the life sciences company’s stock worth $5,712,000 after acquiring an additional 2,338 shares during the period. Wealthcare Advisory Partners LLC lifted its stake in shares of Illumina by 11.5% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 4,214 shares of the life sciences company’s stock valued at $563,000 after purchasing an additional 436 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of Illumina during the 4th quarter worth $392,000. HB Wealth Management LLC increased its position in shares of Illumina by 31.5% during the 4th quarter. HB Wealth Management LLC now owns 3,608 shares of the life sciences company’s stock worth $482,000 after purchasing an additional 864 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Illumina by 25.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 535 shares of the life sciences company’s stock valued at $71,000 after buying an additional 109 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

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.