Illumina (NASDAQ:ILMN) Rating Reiterated by Stephens

Illumina (NASDAQ:ILMN)‘s stock had its “overweight” rating reiterated by equities researchers at Stephens in a report released on Tuesday, Benzinga reports. They currently have a $170.00 price objective on the life sciences company’s stock. Stephens’ price objective would indicate a potential upside of 53.68% from the stock’s previous close.

ILMN has been the subject of several other reports. Royal Bank of Canada reiterated an “outperform” rating and set a $253.00 target price on shares of Illumina in a research note on Tuesday, April 9th. HSBC lowered Illumina from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Robert W. Baird upped their target price on Illumina from $125.00 to $128.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. StockNews.com downgraded shares of Illumina from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Finally, Scotiabank dropped their price objective on shares of Illumina from $185.00 to $176.00 and set a “sector outperform” rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $164.65.

Illumina Price Performance

NASDAQ ILMN opened at $110.62 on Tuesday. The company has a market cap of $17.62 billion, a P/E ratio of -13.57 and a beta of 1.20. The company has a fifty day simple moving average of $129.13 and a 200 day simple moving average of $126.95. Illumina has a 1 year low of $89.00 and a 1 year high of $213.91. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26.

Illumina (NASDAQ:ILMN) last announced its earnings results on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 EPS. On average, sell-side analysts predict that Illumina will post 0.91 EPS for the current year.

Insider Transactions at Illumina

In related news, CEO Jacob Thaysen purchased 7,330 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was acquired at an average price of $135.29 per share, with a total value of $991,675.70. Following the completion of the acquisition, the chief executive officer now directly owns 14,861 shares in the company, valued at approximately $2,010,544.69. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is owned by company insiders.

Institutional Investors Weigh In On Illumina

Hedge funds and other institutional investors have recently made changes to their positions in the company. WCM Investment Management LLC boosted its holdings in Illumina by 2,232.3% in the first quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock valued at $463,760,000 after acquiring an additional 3,232,418 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Illumina by 15.0% in the 3rd quarter. Vanguard Group Inc. now owns 17,967,758 shares of the life sciences company’s stock valued at $2,466,614,000 after purchasing an additional 2,336,935 shares during the last quarter. Capital World Investors bought a new stake in shares of Illumina during the fourth quarter worth approximately $271,753,000. Norges Bank acquired a new position in Illumina in the fourth quarter valued at approximately $264,636,000. Finally, Barclays PLC lifted its holdings in Illumina by 120.0% in the third quarter. Barclays PLC now owns 1,768,355 shares of the life sciences company’s stock valued at $242,758,000 after buying an additional 964,709 shares during the period. 89.42% of the stock is owned by institutional investors and hedge funds.

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.