Illumina (NASDAQ:ILMN) Price Target Raised to $105.00 at Morgan Stanley

Illumina (NASDAQ:ILMN) had its target price upped by Morgan Stanley from $100.00 to $105.00 in a research note published on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the life sciences company’s stock.

Several other equities analysts also recently weighed in on ILMN. Canaccord Genuity Group raised their price objective on Illumina from $99.00 to $105.00 and gave the company a “hold” rating in a research note on Friday. Evercore ISI raised their price objective on Illumina from $116.00 to $128.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Guggenheim dropped their price objective on Illumina from $122.00 to $114.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Scotiabank downgraded Illumina from a “sector outperform” rating to a “sector perform” rating and set a $125.00 price objective for the company. in a research note on Friday, July 11th. Finally, Stephens reaffirmed an “overweight” rating and issued a $105.00 price objective on shares of Illumina in a research note on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $127.47.

Illumina Stock Up 4.0%

ILMN opened at $98.44 on Monday. The business has a 50 day moving average price of $94.16 and a two-hundred day moving average price of $92.01. The company has a quick ratio of 1.41, a current ratio of 1.81 and a debt-to-equity ratio of 0.66. The company has a market cap of $15.58 billion, a PE ratio of 12.46, a P/E/G ratio of 1.75 and a beta of 1.37. Illumina has a 52 week low of $68.70 and a 52 week high of $156.66.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Thursday, July 31st. The life sciences company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.02 by $0.17. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Illumina had a return on equity of 28.93% and a net margin of 29.36%. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. As a group, research analysts anticipate that Illumina will post 4.51 EPS for the current year.

Insider Activity

In other Illumina news, CFO Ankur Dhingra acquired 6,100 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were acquired at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the completion of the acquisition, the chief financial officer directly owned 24,906 shares of the company’s stock, valued at $2,022,616.26. This trade represents a 32.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.17% of the stock is owned by company insiders.

Institutional Investors Weigh In On Illumina

Hedge funds have recently made changes to their positions in the business. Rise Advisors LLC boosted its holdings in Illumina by 173.6% in the first quarter. Rise Advisors LLC now owns 353 shares of the life sciences company’s stock valued at $28,000 after acquiring an additional 224 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in Illumina by 290.3% in the first quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company’s stock valued at $29,000 after acquiring an additional 270 shares during the last quarter. Center for Financial Planning Inc. acquired a new position in Illumina in the first quarter valued at $33,000. Fourth Dimension Wealth LLC acquired a new position in Illumina in the fourth quarter valued at $40,000. Finally, PFS Partners LLC boosted its holdings in Illumina by 400.0% in the first quarter. PFS Partners LLC now owns 500 shares of the life sciences company’s stock valued at $40,000 after acquiring an additional 400 shares during the last quarter. 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.