Illumina (NASDAQ:ILMN) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Illumina (NASDAQ:ILMN) in a research report report published on Thursday morning, Benzinga reports. Royal Bank of Canada currently has a $252.00 target price on the life sciences company’s stock.

Several other equities analysts have also recently commented on the stock. Barclays raised shares of Illumina from an underweight rating to an equal weight rating and set a $125.00 target price on the stock in a research report on Wednesday, August 14th. JPMorgan Chase & Co. decreased their price target on shares of Illumina from $130.00 to $125.00 and set a neutral rating for the company in a research note on Wednesday, August 7th. Robert W. Baird raised their price target on shares of Illumina from $119.00 to $124.00 and gave the stock a neutral rating in a research note on Wednesday, August 7th. Piper Sandler decreased their price target on shares of Illumina from $200.00 to $195.00 and set an overweight rating for the company in a research note on Tuesday, August 13th. Finally, StockNews.com initiated coverage on shares of Illumina in a research note on Thursday, August 29th. They set a buy rating for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $150.05.

Illumina Price Performance

Illumina stock opened at $145.54 on Thursday. Illumina has a 52 week low of $89.00 and a 52 week high of $148.19. The company’s 50 day moving average price is $130.19 and its two-hundred day moving average price is $120.63. 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 stock has a market cap of $23.18 billion, a P/E ratio of -17.86 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last posted its earnings results on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.12 by $0.24. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the firm earned $0.32 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, equities analysts predict that Illumina will post 3.63 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. grew its position in shares of Illumina by 426.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 15,460 shares of the life sciences company’s stock valued at $2,123,000 after purchasing an additional 12,521 shares in the last quarter. Findlay Park Partners LLP bought a new stake in shares of Illumina during the 1st quarter worth $100,120,000. Jupiter Asset Management Ltd. bought a new stake in shares of Illumina during the 1st quarter worth $4,527,000. US Bancorp DE lifted its holdings in shares of Illumina by 33.9% during the 1st quarter. US Bancorp DE now owns 31,600 shares of the life sciences company’s stock worth $4,339,000 after acquiring an additional 8,001 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Illumina by 41.4% during the 1st quarter. BNP Paribas Financial Markets now owns 390,035 shares of the life sciences company’s stock worth $53,560,000 after acquiring an additional 114,263 shares during the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

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.