Illumina (NASDAQ:ILMN) Stock Price Up 5.7% – Should You Buy?

Shares of Illumina, Inc. (NASDAQ:ILMN) shot up 5.7% on Monday . The company traded as high as $144.47 and last traded at $144.42. 1,191,095 shares changed hands during trading, a decline of 15% from the average session volume of 1,394,217 shares. The stock had previously closed at $136.69.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ILMN shares. JPMorgan Chase & Co. increased their price objective on Illumina from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. HSBC upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research note on Thursday, October 17th. Leerink Partners upped their target price on shares of Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Barclays lifted their price target on shares of Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Hsbc Global Res upgraded Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price target on the stock in a report on Thursday, October 17th. Eight analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Illumina presently has an average rating of “Moderate Buy” and an average target price of $165.63.

Illumina Stock Performance

The stock’s 50 day moving average price is $141.11 and its 200 day moving average price is $132.61. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. The company has a market cap of $22.84 billion, a price-to-earnings ratio of -14.46 and a beta of 1.11.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm posted $0.33 earnings per share. Illumina’s revenue was down 3.5% on a year-over-year basis. On average, analysts expect that Illumina, Inc. will post 4.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Illumina

Institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc grew its holdings 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 in the last quarter. TD Private Client Wealth LLC lifted its stake in Illumina by 58.5% in the third quarter. TD Private Client Wealth LLC now owns 382 shares of the life sciences company’s stock valued at $50,000 after buying an additional 141 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Illumina by 65.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after acquiring an additional 168 shares during the period. Private Trust Co. NA grew its position in shares of Illumina by 81.2% during the third quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock worth $62,000 after acquiring an additional 212 shares during the last quarter. Finally, Focused Wealth Management Inc acquired a new stake in shares of Illumina in the 3rd quarter worth about $63,000. 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.