Illumina (NASDAQ:ILMN) Reaches New 1-Year Low – Here’s What Happened

Shares of Illumina, Inc. (NASDAQ:ILMN) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $76.63 and last traded at $77.53, with a volume of 589920 shares trading hands. The stock had previously closed at $81.88.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ILMN. TD Cowen lowered Illumina from a “buy” rating to a “hold” rating and decreased their target price for the stock from $177.00 to $140.00 in a research note on Friday, February 7th. Hsbc Global Res lowered shares of Illumina from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Robert W. Baird dropped their price objective on shares of Illumina from $127.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. Barclays reiterated an “underweight” rating on shares of Illumina in a report on Tuesday, March 11th. Finally, Royal Bank of Canada cut their price objective on Illumina from $247.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $140.90.

Illumina Price Performance

The stock’s 50-day moving average is $96.82 and its 200 day moving average is $125.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. The stock has a market capitalization of $11.75 billion, a PE ratio of -9.66, a P/E/G ratio of 1.60 and a beta of 1.38.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data 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 positive return on equity of 13.37% and a negative net margin of 27.95%. As a group, equities analysts expect that Illumina, Inc. will post 4.51 earnings per share for the current year.

Institutional Investors Weigh In On Illumina

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ILMN. Captrust Financial Advisors boosted its stake in Illumina by 6.5% during the 3rd quarter. Captrust Financial Advisors now owns 8,576 shares of the life sciences company’s stock worth $1,118,000 after purchasing an additional 524 shares during the period. Investment Management Corp of Ontario raised its holdings in shares of Illumina by 43.4% in the third quarter. Investment Management Corp of Ontario now owns 5,290 shares of the life sciences company’s stock valued at $690,000 after buying an additional 1,600 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Illumina by 4.7% during the third quarter. Integrated Wealth Concepts LLC now owns 2,990 shares of the life sciences company’s stock worth $390,000 after buying an additional 135 shares during the period. Royal London Asset Management Ltd. grew its holdings in shares of Illumina by 4.1% during the third quarter. Royal London Asset Management Ltd. now owns 65,082 shares of the life sciences company’s stock worth $8,487,000 after buying an additional 2,555 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in Illumina by 29.5% in the 3rd quarter. Quantinno Capital Management LP now owns 12,644 shares of the life sciences company’s stock valued at $1,649,000 after acquiring an additional 2,879 shares during the period. 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.