Morgan Stanley Has Lowered Expectations for Illumina (NASDAQ:ILMN) Stock Price

Illumina (NASDAQ:ILMN) had its price objective decreased by equities research analysts at Morgan Stanley from $156.00 to $150.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the life sciences company’s stock. Morgan Stanley’s price objective suggests a potential upside of 9.91% from the company’s current price.

Several other research analysts also recently commented on the company. Piper Sandler lowered their target price on Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. HSBC upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Thursday, October 17th. UBS Group boosted their target price on shares of Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Hsbc Global Res upgraded Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price target for the company in a research note on Thursday, October 17th. Finally, Citigroup lowered Illumina from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $190.00 to $165.00 in a research report on Wednesday, December 11th. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Illumina presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.63.

Illumina Stock Performance

NASDAQ ILMN opened at $136.48 on Monday. The firm’s 50 day simple moving average is $140.55 and its 200 day simple moving average is $133.10. The firm has a market capitalization of $21.65 billion, a price-to-earnings ratio of -13.70 and a beta of 1.11. 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 has a 1 year low of $100.08 and a 1 year high of $156.66.

Illumina (NASDAQ:ILMN) last issued its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share 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 the consensus estimate of $1.08 billion. During the same quarter last year, the business posted $0.33 EPS. The company’s revenue was down 3.5% compared to the same quarter last year. As a group, research analysts expect that Illumina will post 4.11 earnings per share for the current fiscal year.

Institutional Trading of Illumina

Hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc boosted its stake in Illumina by 153.7% during the fourth quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock worth $32,000 after acquiring an additional 146 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Illumina by 58.5% during the third 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 during the period. Massmutual Trust Co. FSB ADV boosted its position in shares of Illumina by 65.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock worth $56,000 after purchasing an additional 168 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Illumina in the 2nd quarter valued at about $61,000. Finally, Private Trust Co. NA increased its position in Illumina by 81.2% in the 3rd quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock valued at $62,000 after buying an additional 212 shares in the last quarter. 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.