Illumina (NASDAQ:ILMN) Shares Gap Down Following Analyst Downgrade

Illumina, Inc. (NASDAQ:ILMN)’s stock price gapped down before the market opened on Tuesday after Barclays lowered their price target on the stock from $145.00 to $130.00. The stock had previously closed at $131.10, but opened at $125.17. Barclays currently has an equal weight rating on the stock. Illumina shares last traded at $125.01, with a volume of 816,967 shares trading hands.

A number of other equities research analysts also recently issued reports on ILMN. Stephens increased their price target on shares of Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Citigroup downgraded shares of Illumina from a “buy” rating to a “neutral” rating and cut their price target for the company from $190.00 to $165.00 in a report on Wednesday, December 11th. HSBC raised shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Thursday, October 17th. Canaccord Genuity Group lifted their price objective on Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley decreased their target price on Illumina from $156.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.84.

Institutional Investors Weigh In On Illumina

Several institutional investors have recently bought and sold shares of ILMN. Cetera Investment Advisers grew its holdings in shares of Illumina by 25.8% in the second quarter. Cetera Investment Advisers now owns 18,384 shares of the life sciences company’s stock worth $1,919,000 after purchasing an additional 3,767 shares during the last quarter. GAMMA Investing LLC boosted its position in Illumina by 31.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,919 shares of the life sciences company’s stock valued at $381,000 after buying an additional 692 shares during the period. Azzad Asset Management Inc. ADV grew its holdings in Illumina by 8.1% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 4,235 shares of the life sciences company’s stock worth $552,000 after acquiring an additional 317 shares during the last quarter. Diversified Trust Co purchased a new position in shares of Illumina in the third quarter valued at about $243,000. Finally, Axiom Advisory LLC raised its stake in shares of Illumina by 3.2% during the third quarter. Axiom Advisory LLC now owns 6,528 shares of the life sciences company’s stock valued at $805,000 after acquiring an additional 204 shares during the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Trading Up 0.4 %

The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $19.77 billion, a PE ratio of -12.52 and a beta of 1.10. The stock’s fifty day moving average price is $138.19 and its two-hundred day moving average price is $135.50.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, topping 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 analyst estimates of $1.08 billion. During the same period last year, the company earned $0.33 EPS. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. Sell-side analysts anticipate that Illumina, Inc. will post 4.13 earnings per share for the current year.

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.