Illumina, Inc. (NASDAQ:ILMN) Short Interest Update

Illumina, Inc. (NASDAQ:ILMN) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 4,880,000 shares, a growth of 9.2% from the August 31st total of 4,470,000 shares. Based on an average daily trading volume, of 1,820,000 shares, the days-to-cover ratio is presently 2.7 days.

Illumina Stock Up 0.2 %

ILMN opened at $130.41 on Tuesday. Illumina has a 12 month low of $89.00 and a 12 month high of $148.19. The business has a 50-day moving average of $126.61 and a two-hundred day moving average of $120.28. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86. The stock has a market capitalization of $20.77 billion, a price-to-earnings ratio of -16.00 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last released its earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (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 business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the company earned $0.32 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. On average, research analysts expect that Illumina will post 3.63 earnings per share for the current year.

Analyst Ratings Changes

ILMN has been the subject of several research analyst reports. Daiwa Capital Markets raised Illumina from a “neutral” rating to a “buy” rating and raised their price objective for the company from $120.00 to $154.00 in a research note on Friday, August 16th. Evercore ISI dropped their price target on Illumina from $195.00 to $175.00 and set an “outperform” rating for the company in a research report on Tuesday, June 11th. Barclays upgraded shares of Illumina from an “underweight” rating to an “equal weight” rating and set a $125.00 price objective on the stock in a research report on Wednesday, August 14th. Scotiabank dropped their target price on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a report on Thursday, August 15th. Finally, TD Cowen raised shares of Illumina from a “hold” rating to a “buy” rating and upped their price target for the company from $126.00 to $144.00 in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.05.

Institutional Trading of Illumina

A number of institutional investors and hedge funds have recently made changes to their positions in ILMN. Trivant Custom Portfolio Group LLC boosted its holdings in Illumina by 166.7% in the first 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 last quarter. Versant Capital Management Inc grew its holdings in shares of Illumina by 292.9% during the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after purchasing an additional 246 shares during the period. Industrial Alliance Investment Management Inc. acquired a new stake in Illumina during the 2nd quarter worth approximately $34,000. Massmutual Trust Co. FSB ADV raised its holdings in Illumina by 86.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock valued at $39,000 after buying an additional 132 shares during the period. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in Illumina during the fourth quarter valued at approximately $56,000. 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.