UBS Group Issues Positive Forecast for Illumina (NASDAQ:ILMN) Stock Price

Illumina (NASDAQ:ILMN) had its price target lifted by investment analysts at UBS Group from $133.00 to $145.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the life sciences company’s stock. UBS Group’s price target points to a potential downside of 4.89% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. Canaccord Genuity Group lifted their price objective on shares of Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a report on Tuesday. Piper Sandler reduced their price objective on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. Argus upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Wednesday, August 28th. Daiwa America upgraded shares of Illumina to a “strong-buy” rating in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $160.00.

Illumina Stock Down 0.7 %

NASDAQ:ILMN traded down $1.03 during trading hours on Tuesday, reaching $152.46. The company had a trading volume of 1,686,160 shares, compared to its average volume of 1,995,016. 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 firm has a market cap of $24.29 billion, a price-to-earnings ratio of -7.96 and a beta of 1.13. The business’s 50-day simple moving average is $136.39 and its two-hundred day simple moving average is $122.65. Illumina has a twelve month low of $89.00 and a twelve month high of $155.37.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the company posted $0.33 earnings per share. On average, equities analysts expect that Illumina will post 3.62 earnings per share for the current year.

Hedge Funds Weigh In On Illumina

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Illumina by 0.4% during the first quarter. Vanguard Group Inc. now owns 18,245,041 shares of the life sciences company’s stock valued at $2,505,409,000 after acquiring an additional 66,528 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Illumina by 7.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,039,538 shares of the life sciences company’s stock worth $317,267,000 after buying an additional 204,043 shares in the last quarter. Capital World Investors grew its stake in Illumina by 41.1% in the 1st quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company’s stock worth $378,111,000 after buying an additional 801,814 shares in the last quarter. Primecap Management Co. CA grew its stake in Illumina by 462.5% in the 2nd quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock worth $253,514,000 after buying an additional 1,997,010 shares in the last quarter. Finally, GUARDCAP ASSET MANAGEMENT Ltd grew its stake in Illumina by 1.1% in the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 2,068,869 shares of the life sciences company’s stock worth $284,097,000 after buying an additional 22,067 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

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.