Morgan Stanley Has Lowered Expectations for Illumina (NASDAQ:ILMN) Stock Price

Illumina (NASDAQ:ILMN) had its target price cut by investment analysts at Morgan Stanley from $156.00 to $150.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the life sciences company’s stock. Morgan Stanley’s price objective points to a potential upside of 9.91% from the company’s previous close.

Several other brokerages have also weighed in on ILMN. Robert W. Baird lifted their price objective on Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. UBS Group raised their price objective on shares of Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Citigroup cut 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. TD Cowen upped their price objective on Illumina from $166.00 to $177.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Stephens raised their target price on shares of Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $165.63.

Illumina Stock Down 5.4 %

ILMN opened at $136.48 on Monday. The business has a 50 day moving average price of $140.55 and a 200 day moving average price of $133.10. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. Illumina has a twelve month low of $100.08 and a twelve month high of $156.66. The firm has a market cap of $21.65 billion, a P/E ratio of -13.70 and a beta of 1.11.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data 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. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The firm’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 EPS. Research analysts forecast that Illumina will post 4.11 EPS for the current year.

Institutional Investors Weigh In On Illumina

Several institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its position in Illumina by 153.7% during the 4th quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock worth $32,000 after acquiring an additional 146 shares during the last quarter. TD Private Client Wealth LLC increased its position in Illumina by 58.5% during the third quarter. TD Private Client Wealth LLC now owns 382 shares of the life sciences company’s stock worth $50,000 after buying an additional 141 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Illumina by 65.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock worth $56,000 after acquiring an additional 168 shares during the last quarter. Private Trust Co. NA raised its position in shares of Illumina by 81.2% in the third quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock valued at $62,000 after purchasing an additional 212 shares during the period. Finally, Focused Wealth Management Inc bought a new position in Illumina in the 3rd quarter valued at about $63,000. 89.42% of the stock is 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.