Illumina (NASDAQ:ILMN) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Illumina (NASDAQ:ILMN) in a report issued on Sunday. The firm issued a buy rating on the life sciences company’s stock.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada restated an outperform rating and set a $253.00 target price on shares of Illumina in a research report on Tuesday, April 9th. Robert W. Baird increased their target price on shares of Illumina from $125.00 to $128.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. TD Cowen decreased their target price on shares of Illumina from $140.00 to $122.00 and set a hold rating on the stock in a research report on Thursday, June 6th. Jefferies Financial Group started coverage on shares of Illumina in a research report on Monday, June 3rd. They set a hold rating and a $115.00 target price on the stock. Finally, Scotiabank decreased their target price on shares of Illumina from $185.00 to $176.00 and set a sector outperform rating on the stock in a research report on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $158.14.

Illumina Stock Down 2.0 %

Shares of ILMN opened at $104.38 on Friday. Illumina has a 52 week low of $89.00 and a 52 week high of $195.64. The firm has a market cap of $16.63 billion, a P/E ratio of -12.81 and a beta of 1.20. The firm’s 50-day simple moving average is $111.62 and its 200 day simple moving average is $127.32. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 1.75.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Thursday, May 2nd. The life sciences company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the business earned $0.08 EPS. Illumina’s quarterly revenue was down 1.0% on a year-over-year basis. On average, analysts forecast that Illumina will post 0.98 earnings per share for the current year.

Hedge Funds Weigh In On Illumina

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Trivant Custom Portfolio Group LLC increased its position in Illumina by 166.7% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock valued at $27,000 after acquiring an additional 125 shares during the period. VisionPoint Advisory Group LLC increased its position in Illumina by 344.6% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 249 shares of the life sciences company’s stock valued at $34,000 after acquiring an additional 193 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in Illumina in the 4th quarter valued at approximately $37,000. Massmutual Trust Co. FSB ADV increased its position in Illumina by 86.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock valued at $39,000 after acquiring an additional 132 shares during the period. Finally, Gradient Investments LLC increased its position in Illumina by 375.0% in the 4th quarter. Gradient Investments LLC now owns 285 shares of the life sciences company’s stock valued at $40,000 after acquiring an additional 225 shares during the period. 89.42% of the stock is currently owned by institutional investors and hedge funds.

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.