Illumina (NASDAQ:ILMN) Downgraded to "Underweight" Rating by Barclays

Barclays cut shares of Illumina (NASDAQ:ILMN - Free Report) from an equal weight rating to an underweight rating in a research report sent to investors on Monday morning, Marketbeat.com reports. Barclays currently has $100.00 target price on the life sciences company's stock, down from their previous target price of $130.00.

Several other analysts also recently issued reports on ILMN. Morgan Stanley dropped their price target on Illumina from $156.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Monday, January 13th. Citigroup cut Illumina from a "buy" rating to a "neutral" rating and cut their target price for the company from $190.00 to $165.00 in a research note on Wednesday, December 11th. Canaccord Genuity Group decreased their target price on shares of Illumina from $145.00 to $135.00 and set a "hold" rating for the company in a research report on Friday, February 7th. UBS Group upped their target price on Illumina from $133.00 to $145.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. Finally, HSBC upgraded Illumina from a "hold" rating to a "buy" rating and set a $180.00 price target for the company in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Illumina currently has a consensus rating of "Moderate Buy" and an average target price of $159.45.

Illumina Stock Performance

Shares of ILMN traded down $1.54 during mid-day trading on Monday, hitting $100.24. The company's stock had a trading volume of 3,135,782 shares, compared to its average volume of 2,405,156. The firm has a market capitalization of $15.90 billion, a PE ratio of -13.05 and a beta of 1.10. Illumina has a one year low of $99.35 and a one year high of $156.66. The stock's 50-day moving average is $133.56 and its two-hundred day moving average is $134.88. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 12.59%. As a group, sell-side analysts anticipate that Illumina will post 4.42 EPS for the current year.

Hedge Funds Weigh In On Illumina

Institutional investors and hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc increased its stake in shares of Illumina by 153.7% in the fourth quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company's stock worth $32,000 after purchasing an additional 146 shares in the last quarter. Golden State Wealth Management LLC bought a new position in Illumina in the 4th quarter worth approximately $32,000. Assetmark Inc. grew its stake in Illumina by 954.8% in the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company's stock valued at $44,000 after buying an additional 296 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Illumina during the 4th quarter valued at $45,000. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Illumina during the fourth quarter worth $48,000. 89.42% of the stock is 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.