Citigroup Lowers Illumina (NASDAQ:ILMN) Price Target to $90.00

Illumina (NASDAQ:ILMN - Get Free Report) had its target price cut by equities research analysts at Citigroup from $130.00 to $90.00 in a report issued on Tuesday, Marketbeat.com reports. The brokerage currently has a "neutral" rating on the life sciences company's stock. Citigroup's price target suggests a potential upside of 3.71% from the company's previous close.

A number of other brokerages have also recently weighed in on ILMN. Robert W. Baird lifted their price objective on Illumina from $124.00 to $139.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. Morgan Stanley lowered their price objective on shares of Illumina from $150.00 to $136.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 11th. Canaccord Genuity Group decreased their price target 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. Royal Bank of Canada reduced their price objective on Illumina from $250.00 to $247.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Finally, Hsbc Global Res cut Illumina from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $149.25.

Illumina Price Performance

ILMN traded up $1.09 during trading on Tuesday, reaching $86.78. The company's stock had a trading volume of 615,815 shares, compared to its average volume of 2,595,968. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. The firm has a fifty day simple moving average of $120.36 and a two-hundred day simple moving average of $132.17. The company has a market cap of $13.75 billion, a price-to-earnings ratio of -11.27, a PEG ratio of 1.60 and a beta of 1.17. Illumina has a 1 year low of $80.18 and a 1 year high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share 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 13.37%. As a group, analysts anticipate that Illumina will post 4.51 EPS for the current year.

Hedge Funds Weigh In On Illumina

A number of large investors have recently made changes to their positions in the stock. Golden State Wealth Management LLC acquired a new stake in shares of Illumina during the 4th quarter valued at approximately $32,000. Versant Capital Management Inc boosted its position in Illumina by 153.7% during 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. Fourth Dimension Wealth LLC acquired a new position in shares of Illumina during the 4th quarter worth $40,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Illumina in the 4th quarter worth about $45,000. Finally, 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 acquiring an additional 296 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company's stock.

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.