Analysts Set Illumina, Inc. (NASDAQ:ILMN) Price Target at $150.05

Illumina, Inc. (NASDAQ:ILMN) has been given an average rating of “Moderate Buy” by the twenty-two research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $150.05.

Several brokerages recently weighed in on ILMN. Argus raised Illumina from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Wednesday, August 28th. Piper Sandler cut their target price on Illumina from $200.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $252.00 price target on shares of Illumina in a report on Thursday, October 10th. UBS Group increased their price target on Illumina from $131.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Scotiabank lowered their price target on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a report on Thursday, August 15th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Illumina by 0.4% during the first quarter. Vanguard Group Inc. now owns 18,245,041 shares of the life sciences company’s stock worth $2,505,409,000 after purchasing an additional 66,528 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of Illumina by 8.7% in the first quarter. Baillie Gifford & Co. now owns 5,736,418 shares of the life sciences company’s stock valued at $787,725,000 after purchasing an additional 460,649 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Illumina by 7.2% during the second quarter. Bank of New York Mellon Corp now owns 3,039,538 shares of the life sciences company’s stock worth $317,267,000 after purchasing an additional 204,043 shares during the period. Capital World Investors raised its stake in Illumina by 41.1% in the 1st quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company’s stock worth $378,111,000 after purchasing an additional 801,814 shares in the last quarter. Finally, Primecap Management Co. CA raised its holdings in Illumina by 462.5% in the 2nd quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock valued at $253,514,000 after acquiring an additional 1,997,010 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Trading Up 2.4 %

Shares of ILMN opened at $149.07 on Friday. Illumina has a fifty-two week low of $89.00 and a fifty-two week high of $150.80. The company has a market capitalization of $23.75 billion, a PE ratio of -18.29 and a beta of 1.15. The stock has a fifty day moving average of $130.87 and a two-hundred day moving average of $120.72. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11.

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

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.