Illumina (NASDAQ:ILMN) Price Target Cut to $112.00 by Analysts at Royal Bank of Canada

Illumina (NASDAQ:ILMN - Free Report) had its price target reduced by Royal Bank of Canada from $128.00 to $112.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the life sciences company's stock.

A number of other brokerages have also recently issued reports on ILMN. Morgan Stanley decreased their price objective on shares of Illumina from $150.00 to $136.00 and set an "equal weight" rating for the company in a report on Tuesday, February 11th. HSBC downgraded Illumina from a "buy" rating to a "hold" rating and set a $100.00 price target for the company. in a research note on Friday, February 28th. TD Cowen downgraded Illumina from a "buy" rating to a "hold" rating and cut their price objective for the company from $177.00 to $140.00 in a research note on Friday, February 7th. Piper Sandler upped their target price on Illumina from $185.00 to $190.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Finally, Guggenheim dropped their price target on shares of Illumina from $170.00 to $150.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $138.70.

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Illumina Stock Up 4.9 %

Shares of ILMN stock traded up $3.52 during trading on Tuesday, hitting $74.78. 3,040,860 shares of the company were exchanged, compared to its average volume of 2,265,473. The firm has a market capitalization of $11.85 billion, a price-to-earnings ratio of -9.74, a P/E/G ratio of 1.60 and a beta of 1.38. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. The business's 50-day simple moving average is $88.58 and its 200 day simple moving average is $122.32. Illumina has a twelve month low of $68.70 and a twelve month high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its earnings results on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. As a group, analysts forecast that Illumina will post 4.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Illumina

Institutional investors have recently added to or reduced their stakes in the company. Bank of Stockton increased its holdings in shares of Illumina by 3.8% during the fourth quarter. Bank of Stockton now owns 2,162 shares of the life sciences company's stock worth $289,000 after buying an additional 80 shares in the last quarter. Stephens Inc. AR increased its holdings in Illumina by 1.4% during the 4th quarter. Stephens Inc. AR now owns 6,623 shares of the life sciences company's stock valued at $885,000 after purchasing an additional 90 shares in the last quarter. Spire Wealth Management raised its position in Illumina by 26.0% in the 4th quarter. Spire Wealth Management now owns 470 shares of the life sciences company's stock valued at $63,000 after purchasing an additional 97 shares during the last quarter. IFP Advisors Inc boosted its stake in Illumina by 19.1% in the fourth quarter. IFP Advisors Inc now owns 617 shares of the life sciences company's stock worth $82,000 after purchasing an additional 99 shares in the last quarter. Finally, Freedom Investment Management Inc. grew its holdings in shares of Illumina by 3.7% during the fourth quarter. Freedom Investment Management Inc. now owns 2,856 shares of the life sciences company's stock worth $382,000 after purchasing an additional 101 shares during the last quarter. 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.