Illumina (NASDAQ:ILMN) Earns Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Illumina (NASDAQ:ILMN) in a research report report published on Sunday. The brokerage issued a buy rating on the life sciences company’s stock.

A number of other equities analysts have also commented on the stock. Robert W. Baird increased their price target on shares of Illumina from $125.00 to $128.00 and gave the stock a neutral rating in a report on Friday, May 3rd. Stephens reissued an overweight rating and issued a $170.00 price target on shares of Illumina in a report on Tuesday, May 7th. Scotiabank cut their price objective on shares of Illumina from $185.00 to $176.00 and set a sector outperform rating for the company in a research note on Monday, May 6th. OTR Global reaffirmed a mixed rating on shares of Illumina in a research note on Wednesday, March 20th. Finally, Evercore ISI cut their price objective on shares of Illumina from $195.00 to $175.00 and set an outperform rating for the company in a research note on Tuesday, June 11th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $158.14.

Illumina Price Performance

Shares of NASDAQ:ILMN opened at $104.38 on Friday. The company’s fifty day moving average price is $111.62 and its 200-day moving average price is $127.32. The firm has a market capitalization of $16.63 billion, a price-to-earnings ratio of -12.81 and a beta of 1.20. Illumina has a one year low of $89.00 and a one year high of $195.64. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.36.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Thursday, May 2nd. The life sciences company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.08 EPS. On average, equities research analysts anticipate that Illumina will post 0.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ILMN. Synovus Financial Corp bought a new position in Illumina in the 3rd quarter worth $591,000. Gotham Asset Management LLC raised its holdings in Illumina by 150.9% in the 3rd quarter. Gotham Asset Management LLC now owns 10,649 shares of the life sciences company’s stock worth $1,462,000 after purchasing an additional 6,404 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in Illumina by 1.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 44,462 shares of the life sciences company’s stock worth $6,104,000 after purchasing an additional 660 shares in the last quarter. Shelton Capital Management increased its stake in shares of Illumina by 27.3% in the 3rd quarter. Shelton Capital Management now owns 17,764 shares of the life sciences company’s stock worth $2,439,000 after acquiring an additional 3,810 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Illumina by 64.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,562 shares of the life sciences company’s stock worth $352,000 after acquiring an additional 1,004 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors.

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.