Illumina (NASDAQ:ILMN) Sets New 12-Month Low - Here's What Happened

Illumina, Inc. (NASDAQ:ILMN - Get Free Report) reached a new 52-week low on Friday . The stock traded as low as $79.97 and last traded at $80.00, with a volume of 429084 shares traded. The stock had previously closed at $82.28.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ILMN. Citigroup decreased their target price on Illumina from $130.00 to $90.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Morgan Stanley dropped their target price on shares of Illumina from $150.00 to $136.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 11th. Barclays reiterated an "underweight" rating on shares of Illumina in a research report on Tuesday, March 11th. Guggenheim lowered their price objective on shares of Illumina from $170.00 to $150.00 and set a "buy" rating for the company in a report on Friday, February 7th. Finally, Robert W. Baird reduced their target price on Illumina from $127.00 to $90.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $140.90.

Illumina Price Performance

The firm has a 50-day moving average of $101.65 and a 200 day moving average of $126.49. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42. The company has a market capitalization of $12.42 billion, a PE ratio of -10.21, a PEG ratio of 1.60 and a beta of 1.17.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share 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, research analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ILMN. Bleakley Financial Group LLC bought a new position in Illumina in the 4th quarter worth $751,000. Zacks Investment Management bought a new position in shares of Illumina in the third quarter worth about $2,924,000. Van ECK Associates Corp lifted its position in shares of Illumina by 17.5% during the 4th quarter. Van ECK Associates Corp now owns 152,265 shares of the life sciences company's stock valued at $20,347,000 after buying an additional 22,718 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Illumina during the 4th quarter valued at about $1,464,000. Finally, Allworth Financial LP grew its stake in shares of Illumina by 720.7% during the 4th quarter. Allworth Financial LP now owns 7,132 shares of the life sciences company's stock valued at $1,001,000 after acquiring an additional 6,263 shares during the period. 89.42% of the stock is currently 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.