Illumina (NASDAQ:ILMN) Stock Rating Lowered by Wall Street Zen

Illumina (NASDAQ:ILMN) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Several other brokerages also recently issued reports on ILMN. UBS Group boosted their price target on shares of Illumina from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Barclays lifted their price objective on shares of Illumina from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Monday, December 15th. TD Cowen upped their target price on shares of Illumina from $110.00 to $115.00 and gave the stock a “hold” rating in a research report on Friday, October 31st. Canaccord Genuity Group lifted their price target on Illumina from $112.00 to $130.00 and gave the company a “hold” rating in a report on Monday, December 22nd. Finally, Cowen reiterated a “hold” rating on shares of Illumina in a research report on Friday, October 31st. Five analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Illumina presently has an average rating of “Hold” and an average price target of $118.31.

Illumina Stock Performance

Shares of NASDAQ ILMN opened at $134.35 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.43 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average price is $125.81 and its two-hundred day moving average price is $107.99. Illumina has a 52-week low of $68.70 and a 52-week high of $153.06. The stock has a market capitalization of $20.53 billion, a P/E ratio of 30.12, a P/E/G ratio of 2.24 and a beta of 1.41.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Thursday, October 30th. The life sciences company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.18. Illumina had a return on equity of 29.21% and a net margin of 16.40%.The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the firm earned $1.14 EPS. The business’s quarterly revenue was up .4% on a year-over-year basis. Illumina has set its FY 2025 guidance at 4.650-4.750 EPS. As a group, sell-side analysts forecast that Illumina will post 4.51 earnings per share for the current year.

Insider Activity at Illumina

In other news, Director Scott Gottlieb acquired 500 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were bought at an average price of $122.13 per share, with a total value of $61,065.00. Following the purchase, the director owned 12,523 shares of the company’s stock, valued at approximately $1,529,433.99. This represents a 4.16% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott M. Davies sold 323 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $136.09, for a total value of $43,957.07. Following the completion of the sale, the insider owned 17,887 shares of the company’s stock, valued at approximately $2,434,241.83. This trade represents a 1.77% decrease in their position. The SEC filing for this sale provides additional information. 0.17% of the stock is owned by insiders.

Hedge Funds Weigh In On Illumina

Several large investors have recently made changes to their positions in the business. Next Capital Management LLC bought a new position in shares of Illumina in the second quarter valued at approximately $341,000. CWM LLC grew its stake in Illumina by 112.9% in the 2nd quarter. CWM LLC now owns 76,711 shares of the life sciences company’s stock valued at $7,319,000 after buying an additional 40,676 shares during the last quarter. Andra AP fonden raised its holdings in Illumina by 426.3% in the 2nd quarter. Andra AP fonden now owns 102,491 shares of the life sciences company’s stock worth $9,779,000 after acquiring an additional 83,017 shares during the period. Bourgeon Capital Management LLC raised its holdings in Illumina by 76.4% in the 2nd quarter. Bourgeon Capital Management LLC now owns 141,896 shares of the life sciences company’s stock worth $13,538,000 after acquiring an additional 61,468 shares during the period. Finally, Aaron Wealth Advisors LLC lifted its position in Illumina by 342.6% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 10,476 shares of the life sciences company’s stock worth $995,000 after acquiring an additional 8,109 shares during the last quarter. Institutional investors own 89.42% of the company’s stock.

About Illumina

Illumina, Inc (NASDAQ: ILMN) is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company’s product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.