Illumina (NASDAQ:ILMN) Rating Increased to Buy at HSBC

Illumina (NASDAQ:ILMN) was upgraded by research analysts at HSBC from a “hold” rating to a “buy” rating in a research note issued on Thursday, Briefing.com reports. The firm currently has a $180.00 price objective on the life sciences company’s stock. HSBC’s price objective would suggest a potential upside of 25.10% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Stephens restated an “overweight” rating and issued a $170.00 target price on shares of Illumina in a research note on Wednesday, July 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $252.00 price target on shares of Illumina in a research report on Thursday, October 10th. Scotiabank dropped their price target on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 15th. Citigroup lifted their price target on Illumina from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Robert W. Baird lifted their price target on Illumina from $119.00 to $124.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illumina presently has an average rating of “Moderate Buy” and an average target price of $152.05.

Illumina Stock Down 2.5 %

ILMN stock opened at $143.89 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11. The company has a market capitalization of $22.92 billion, a price-to-earnings ratio of -17.66 and a beta of 1.15. Illumina has a fifty-two week low of $89.00 and a fifty-two week high of $151.40. The stock has a fifty day moving average of $131.95 and a 200-day moving average of $120.95.

Illumina (NASDAQ:ILMN) last issued its 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 positive return on equity of 3.08% and a negative net margin of 68.73%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the company earned $0.32 EPS. The firm’s revenue was down 5.4% compared to the same quarter last year. As a group, equities research analysts predict that Illumina will post 3.63 earnings per share for the current year.

Institutional Investors Weigh In On Illumina

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Illumina by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 18,245,041 shares of the life sciences company’s stock worth $2,505,409,000 after buying an additional 66,528 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of Illumina by 8.7% during the first quarter. Baillie Gifford & Co. now owns 5,736,418 shares of the life sciences company’s stock valued at $787,725,000 after purchasing an additional 460,649 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Illumina by 7.2% during the second quarter. Bank of New York Mellon Corp now owns 3,039,538 shares of the life sciences company’s stock valued at $317,267,000 after purchasing an additional 204,043 shares in the last quarter. Capital World Investors boosted its position in shares of Illumina by 41.1% during the first quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company’s stock valued at $378,111,000 after purchasing an additional 801,814 shares in the last quarter. Finally, Primecap Management Co. CA boosted its position in shares of Illumina by 462.5% during the second quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock valued at $253,514,000 after purchasing an additional 1,997,010 shares in the last quarter. 89.42% of the stock is currently 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.