Illumina (NASDAQ:ILMN) Price Target Lowered to $87.00 at Canaccord Genuity Group

Illumina (NASDAQ:ILMN) had its price target reduced by investment analysts at Canaccord Genuity Group from $92.00 to $87.00 in a report released on Monday,Benzinga reports. The firm presently has a “hold” rating on the life sciences company’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 8.34% from the company’s previous close.

Other research analysts have also issued reports about the stock. Royal Bank of Canada lowered their target price on shares of Illumina from $128.00 to $112.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 8th. Hsbc Global Res lowered shares of Illumina from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Guggenheim decreased their price target on shares of Illumina from $122.00 to $114.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Stephens restated an “overweight” rating and issued a $156.00 price target on shares of Illumina in a research report on Tuesday, March 11th. Finally, Robert W. Baird decreased their price target on shares of Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $130.95.

Illumina Stock Performance

NASDAQ:ILMN opened at $80.30 on Monday. Illumina has a 1 year low of $68.70 and a 1 year high of $156.66. The firm’s fifty day simple moving average is $78.77 and its 200 day simple moving average is $112.48. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $12.71 billion, a PE ratio of -10.46, a PEG ratio of 1.60 and a beta of 1.35.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the business posted $0.98 EPS. Illumina’s revenue was down 1.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Illumina will post 4.51 EPS for the current year.

Hedge Funds Weigh In On Illumina

Hedge funds and other institutional investors have recently made changes to their positions in the business. Golden State Wealth Management LLC bought a new position in shares of Illumina during the 4th quarter worth about $32,000. Fourth Dimension Wealth LLC bought a new position in Illumina during the 4th quarter valued at about $40,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Illumina during the 4th quarter valued at about $45,000. Assetmark Inc. lifted its holdings in Illumina by 954.8% during the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock valued at $44,000 after purchasing an additional 296 shares during the last quarter. Finally, Lee Danner & Bass Inc. bought a new position in Illumina during the 4th quarter valued at about $48,000. 89.42% of the stock is owned by institutional investors.

About Illumina

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.