Barclays Downgrades Illumina (NASDAQ:ILMN) to Underweight

Illumina (NASDAQ:ILMN) was downgraded by investment analysts at Barclays from an “equal weight” rating to an “underweight” rating in a research note issued on Monday, Marketbeat.com reports. They currently have a $100.00 target price on the life sciences company’s stock, down from their previous target price of $130.00. Barclays‘s price target suggests a potential downside of 0.68% from the company’s previous close.

ILMN has been the topic of several other research reports. Stephens raised 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. Robert W. Baird raised their price target on Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Piper Sandler lowered their target price on Illumina from $195.00 to $185.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Hsbc Global Res upgraded shares of Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 target price for the company in a research report on Thursday, October 17th. Finally, Royal Bank of Canada reduced their price objective on Illumina from $250.00 to $247.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $159.45.

Illumina Trading Down 4.1 %

Shares of NASDAQ:ILMN opened at $100.68 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. Illumina has a 1 year low of $100.08 and a 1 year high of $156.66. The company has a market cap of $15.97 billion, a P/E ratio of -13.11 and a beta of 1.10. The stock’s fifty day moving average price is $135.90 and its 200-day moving average price is $135.48.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 12.59%. Sell-side analysts expect that Illumina will post 4.42 earnings per share for the current year.

Institutional Trading of Illumina

A number of hedge funds and other institutional investors have recently bought and sold shares of ILMN. LPL Financial LLC increased its position in shares of Illumina by 24.6% during the fourth quarter. LPL Financial LLC now owns 82,867 shares of the life sciences company’s stock worth $11,073,000 after acquiring an additional 16,339 shares during the period. Guardian Partners Inc. purchased a new position in Illumina during the 4th quarter worth $2,537,000. KLP Kapitalforvaltning AS bought a new stake in Illumina during the 4th quarter valued at $8,051,000. Sei Investments Co. lifted its holdings in shares of Illumina by 3.6% in the 4th quarter. Sei Investments Co. now owns 134,913 shares of the life sciences company’s stock worth $18,028,000 after buying an additional 4,738 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Illumina by 11.5% during the 4th quarter. American Century Companies Inc. now owns 226,852 shares of the life sciences company’s stock worth $30,314,000 after buying an additional 23,338 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Illumina Company Profile

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.