Scotiabank Trims Illumina (NASDAQ:ILMN) Target Price to $176.00

Illumina (NASDAQ:ILMN) had its price target cut by Scotiabank from $185.00 to $176.00 in a research note published on Monday, Benzinga reports. They currently have a sector outperform rating on the life sciences company’s stock.

ILMN has been the subject of a number of other reports. HSBC cut Illumina from a buy rating to a hold rating in a report on Tuesday, January 16th. Robert W. Baird lifted their price target on shares of Illumina from $125.00 to $128.00 and gave the company a neutral rating in a research report on Friday, May 3rd. Stephens restated an overweight rating and issued a $170.00 price objective on shares of Illumina in a report on Wednesday, April 10th. OTR Global reiterated a mixed rating on shares of Illumina in a report on Wednesday, March 20th. Finally, Royal Bank of Canada reissued an outperform rating and issued a $253.00 target price on shares of Illumina in a research report on Tuesday, April 9th. 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 stock. According to MarketBeat.com, Illumina currently has an average rating of Hold and a consensus price target of $164.65.

Illumina Stock Down 2.0 %

NASDAQ ILMN opened at $110.62 on Monday. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. Illumina has a 52 week low of $89.00 and a 52 week high of $213.91. The business’s fifty day simple moving average is $129.13 and its 200-day simple moving average is $126.95. The firm has a market cap of $17.62 billion, a PE ratio of -13.57 and a beta of 1.20.

Illumina (NASDAQ:ILMN) last issued its earnings results on Thursday, May 2nd. The life sciences company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. Illumina’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 earnings per share. As a group, equities analysts anticipate that Illumina will post 0.91 earnings per share for the current year.

Insider Buying and Selling at Illumina

In other news, CEO Jacob Thaysen bought 7,330 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was purchased at an average price of $135.29 per share, for a total transaction of $991,675.70. Following the completion of the purchase, the chief executive officer now owns 14,861 shares in the company, valued at approximately $2,010,544.69. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Illumina

Several institutional investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System raised its holdings in Illumina by 1.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 174,315 shares of the life sciences company’s stock worth $23,937,000 after purchasing an additional 2,636 shares in the last quarter. Patton Fund Management Inc. purchased a new stake in Illumina in the first quarter valued at $222,000. Edmond DE Rothschild Holding S.A. boosted its stake in Illumina by 7.4% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 173,715 shares of the life sciences company’s stock valued at $23,855,000 after acquiring an additional 12,040 shares in the last quarter. Motley Fool Asset Management LLC grew its holdings in shares of Illumina by 8.7% during the first quarter. Motley Fool Asset Management LLC now owns 4,688 shares of the life sciences company’s stock worth $644,000 after purchasing an additional 374 shares during the last quarter. Finally, Bleakley Financial Group LLC purchased a new position in shares of Illumina during the first quarter worth about $207,000. 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.