Illumina (NASDAQ:ILMN) PT Raised to $124.00 at Robert W. Baird

Illumina (NASDAQ:ILMN) had its price objective hoisted by investment analysts at Robert W. Baird from $119.00 to $124.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the life sciences company’s stock. Robert W. Baird’s target price would indicate a potential downside of 2.25% from the company’s previous close.

ILMN has been the subject of several other research reports. Royal Bank of Canada decreased their price target on Illumina from $249.00 to $242.00 and set an “outperform” rating for the company in a research note on Monday, July 1st. Citigroup upgraded Illumina from a “neutral” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Wednesday, July 10th. Scotiabank decreased their price objective on shares of Illumina from $185.00 to $176.00 and set a “sector outperform” rating for the company in a report on Monday, May 6th. StockNews.com started coverage on shares of Illumina in a report on Sunday, June 30th. They issued a “buy” rating on the stock. Finally, Jefferies Financial Group started coverage on shares of Illumina in a report on Monday, June 3rd. They set a “hold” rating and a $115.00 price target for the company. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $153.76.

Illumina Stock Up 9.0 %

NASDAQ:ILMN traded up $10.49 during mid-day trading on Wednesday, reaching $126.85. The stock had a trading volume of 1,800,904 shares, compared to its average volume of 2,106,950. The stock has a market cap of $20.21 billion, a P/E ratio of -15.71 and a beta of 1.15. The business’s 50 day moving average is $111.70 and its 200 day moving average is $123.25. 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 has a fifty-two week low of $89.00 and a fifty-two week high of $195.64.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.12 by $0.24. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the business posted $0.32 EPS. Illumina’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, sell-side analysts predict that Illumina will post 1.5 earnings per share for the current year.

Institutional Trading of Illumina

A number of hedge funds have recently bought and sold shares of ILMN. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Illumina by 426.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 15,460 shares of the life sciences company’s stock worth $2,123,000 after acquiring an additional 12,521 shares during the period. Findlay Park Partners LLP bought a new position in shares of Illumina during the 1st quarter worth about $100,120,000. abrdn plc lifted its holdings in shares of Illumina by 764.9% during the 4th quarter. abrdn plc now owns 339,023 shares of the life sciences company’s stock worth $47,206,000 after acquiring an additional 299,827 shares during the period. Jupiter Asset Management Ltd. bought a new position in shares of Illumina during the 1st quarter worth about $4,527,000. Finally, Norges Bank bought a new position in shares of Illumina during the 4th quarter worth about $264,636,000. 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.