Illumina (NASDAQ:ILMN) Hits New 1-Year Low on Analyst Downgrade

Illumina, Inc. (NASDAQ:ILMN)’s stock price hit a new 52-week low 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 trading hands. The stock had previously closed at $100.68.

ILMN has been the topic of several other research reports. Piper Sandler raised their target price on shares of Illumina from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Monday. UBS Group increased their price target on shares of Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Royal Bank of Canada dropped their price target on shares of Illumina from $250.00 to $247.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. HSBC upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Thursday, October 17th. Finally, Guggenheim dropped their price target on shares of Illumina from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $159.45.

Hedge Funds Weigh In On Illumina

A number of hedge funds and other institutional investors have recently bought and sold shares of ILMN. Zacks Investment Management acquired a new stake in Illumina in the third quarter valued at $2,924,000. Bleakley Financial Group LLC acquired a new stake in Illumina in the fourth quarter valued at $751,000. Freemont Management S.A. acquired a new stake in Illumina in the third quarter valued at $1,565,000. Assenagon Asset Management S.A. raised its stake in shares of Illumina by 5.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 42,748 shares of the life sciences company’s stock worth $5,712,000 after buying an additional 2,338 shares during the last quarter. Finally, CCLA Investment Management raised its stake in shares of Illumina by 20.5% during the 4th quarter. CCLA Investment Management now owns 535,050 shares of the life sciences company’s stock worth $71,493,000 after buying an additional 91,122 shares during the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Stock Up 0.0 %

The firm has a market cap of $15.97 billion, a price-to-earnings ratio of -13.14 and a beta of 1.10. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. The firm has a 50 day moving average price of $135.10 and a 200-day moving average price of $135.34.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a positive return on equity of 12.59% and a negative net margin of 27.95%. On average, equities analysts forecast that Illumina, Inc. will post 4.42 EPS 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.