Illumina (NASDAQ:ILMN) Cut to “Neutral” at Citigroup

Citigroup downgraded shares of Illumina (NASDAQ:ILMN) from a buy rating to a neutral rating in a research report report published on Wednesday, Marketbeat Ratings reports. The brokerage currently has $165.00 price objective on the life sciences company’s stock, down from their prior price objective of $190.00.

ILMN has been the subject of a number of other reports. UBS Group boosted their price target on shares of Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on shares of Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Stephens raised their price target on Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Royal Bank of Canada upped their price objective on shares of Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Leerink Partners lifted their price target on shares of Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $165.40.

Illumina Trading Down 1.7 %

NASDAQ ILMN opened at $143.87 on Wednesday. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. Illumina has a 52 week low of $100.08 and a 52 week high of $156.66. The business has a 50 day moving average price of $144.27 and a 200-day moving average price of $128.28. The company has a market cap of $22.82 billion, a price-to-earnings ratio of -14.44 and a beta of 1.11.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.26. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the company earned $0.33 earnings per share. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, equities analysts expect that Illumina will post 4.11 earnings per share for the current fiscal year.

Institutional Trading of Illumina

Hedge funds have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. increased its position in Illumina by 66.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 11,973 shares of the life sciences company’s stock valued at $1,582,000 after buying an additional 4,797 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Illumina by 38.0% during the third quarter. Tidal Investments LLC now owns 4,449 shares of the life sciences company’s stock worth $580,000 after acquiring an additional 1,226 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Illumina during the third quarter worth about $772,000. Sanctuary Advisors LLC increased its holdings in shares of Illumina by 2.0% during the third quarter. Sanctuary Advisors LLC now owns 22,778 shares of the life sciences company’s stock valued at $3,192,000 after acquiring an additional 450 shares in the last quarter. Finally, M&T Bank Corp raised its position in shares of Illumina by 3.4% in the 3rd quarter. M&T Bank Corp now owns 54,378 shares of the life sciences company’s stock valued at $7,091,000 after purchasing an additional 1,769 shares during the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

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.