Illumina (NASDAQ:ILMN) Given New $242.00 Price Target at Royal Bank of Canada

Illumina (NASDAQ:ILMN) had its price target lowered by Royal Bank of Canada from $249.00 to $242.00 in a research note released on Monday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the life sciences company’s stock.

Other equities research analysts have also issued research reports about the company. Scotiabank cut their target price on Illumina from $185.00 to $176.00 and set a sector outperform rating on the stock in a research report on Monday, May 6th. Jefferies Financial Group assumed coverage on Illumina in a research report on Monday, June 3rd. They set a hold rating and a $115.00 target price on the stock. StockNews.com assumed coverage on Illumina in a research report on Sunday. They set a buy rating on the stock. TD Cowen cut their target price on Illumina from $140.00 to $122.00 and set a hold rating on the stock in a research report on Thursday, June 6th. Finally, Evercore ISI cut their target price on Illumina from $195.00 to $175.00 and set an outperform rating on the stock in a research report on Tuesday, June 11th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Illumina currently has a consensus rating of Hold and an average price target of $157.62.

Illumina Price Performance

ILMN stock opened at $105.50 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.36. The firm has a market capitalization of $16.81 billion, a P/E ratio of -12.94 and a beta of 1.20. The business’s 50-day moving average is $111.62 and its two-hundred day moving average is $127.32. Illumina has a 1 year low of $89.00 and a 1 year high of $195.64.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ILMN. WCM Investment Management LLC grew its holdings in Illumina by 2,232.3% during the first quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock worth $463,760,000 after acquiring an additional 3,232,418 shares during the period. Vanguard Group Inc. grew its holdings in Illumina by 15.0% during the third quarter. Vanguard Group Inc. now owns 17,967,758 shares of the life sciences company’s stock worth $2,466,614,000 after acquiring an additional 2,336,935 shares during the period. Capital World Investors acquired a new position in Illumina during the fourth quarter worth $271,753,000. Norges Bank acquired a new position in Illumina during the fourth quarter worth $264,636,000. Finally, Coatue Management LLC acquired a new position in Illumina during the fourth quarter worth $119,285,000. Institutional investors and hedge funds 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.