Analysts Set Illumina, Inc. (NASDAQ:ILMN) PT at $164.00

Shares of Illumina, Inc. (NASDAQ:ILMN) have earned a consensus rating of “Moderate Buy” from the twenty-four brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, thirteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $164.00.

Several research firms have recently weighed in on ILMN. Royal Bank of Canada lifted their price target on shares of Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. HSBC raised Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Thursday, October 17th. TD Cowen lifted their price objective on Illumina from $166.00 to $177.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Stephens increased their target price on shares of Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Finally, Daiwa Capital Markets raised shares of Illumina from a “neutral” rating to a “buy” rating and raised their target price for the company from $120.00 to $154.00 in a research report on Friday, August 16th.

Illumina Price Performance

Illumina stock opened at $140.60 on Friday. The firm has a market capitalization of $22.30 billion, a PE ratio of -14.12 and a beta of 1.11. Illumina has a 12-month low of $100.08 and a 12-month high of $156.66. The firm has a 50-day moving average price of $142.42 and a 200-day moving average price of $126.45. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94.

Illumina (NASDAQ:ILMN) last released its earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the firm posted $0.33 earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, equities research analysts forecast that Illumina will post 4.11 EPS for the current year.

Hedge Funds Weigh In On Illumina

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ILMN. Versant Capital Management Inc boosted its holdings in Illumina by 292.9% in the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after purchasing an additional 246 shares during the last quarter. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Illumina during the 2nd quarter worth approximately $34,000. TD Private Client Wealth LLC increased its holdings in shares of Illumina by 58.5% during the 3rd quarter. TD Private Client Wealth LLC now owns 382 shares of the life sciences company’s stock valued at $50,000 after purchasing an additional 141 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of Illumina by 65.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after purchasing an additional 168 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new stake in Illumina during the second quarter worth $61,000. 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.