Royal Bank of Canada Reiterates “Outperform” Rating for Illumina (NASDAQ:ILMN)

Illumina (NASDAQ:ILMN)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a report released on Wednesday, Benzinga reports. They presently have a $242.00 price target on the life sciences company’s stock. Royal Bank of Canada’s target price points to a potential upside of 100.90% from the stock’s previous close.

ILMN has been the subject of a number of other research reports. Robert W. Baird boosted their price objective on shares of Illumina from $119.00 to $124.00 and gave the company a “neutral” rating in a report on Wednesday. Jefferies Financial Group initiated coverage on shares of Illumina in a report on Monday, June 3rd. They set a “hold” rating and a $115.00 price objective for the company. Evercore ISI reduced their price target on shares of Illumina from $195.00 to $175.00 and set an “outperform” rating for the company in a report on Tuesday, June 11th. Citigroup upgraded shares of Illumina from a “neutral” rating to a “buy” rating and set a $140.00 price target for the company in a report on Wednesday, July 10th. Finally, TD Cowen reduced their price target on shares of Illumina from $140.00 to $122.00 and set a “hold” rating for the company in a report on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $153.76.

Illumina Trading Up 3.5 %

Shares of ILMN traded up $4.10 on Wednesday, reaching $120.46. 2,427,677 shares of the company’s stock were exchanged, compared to its average volume of 2,111,101. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $19.19 billion, a P/E ratio of -15.33 and a beta of 1.15. The business has a 50 day moving average price of $111.70 and a two-hundred day moving average price of $123.25. Illumina has a 12 month low of $89.00 and a 12 month high of $195.64.

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

Institutional Trading of Illumina

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Trivant Custom Portfolio Group LLC raised its position in Illumina by 166.7% during the first quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock worth $27,000 after acquiring an additional 125 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new position in shares of Illumina in the fourth quarter valued at about $37,000. Massmutual Trust Co. FSB ADV raised its position in shares of Illumina by 86.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock valued at $39,000 after purchasing an additional 132 shares during the period. MeadowBrook Investment Advisors LLC bought a new position in shares of Illumina in the fourth quarter valued at about $42,000. Finally, Industrial Alliance Investment Management Inc. bought a new position in shares of Illumina in the second quarter valued at about $34,000. 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.