Illumina (NASDAQ:ILMN) Hits New 52-Week Low Following Analyst Downgrade

Illumina, Inc. (NASDAQ:ILMN - Get Free Report)'s stock price hit a new 52-week low on Wednesday after Morgan Stanley lowered their price target on the stock from $150.00 to $136.00. Morgan Stanley currently has an equal weight rating on the stock. Illumina traded as low as $99.35 and last traded at $100.45, with a volume of 123581 shares traded. The stock had previously closed at $100.68.

ILMN has been the subject of a number of other reports. Hsbc Global Res upgraded shares of Illumina from a "hold" rating to a "strong-buy" rating and set a $180.00 price objective for the company in a research report on Thursday, October 17th. Piper Sandler raised their price target on Illumina from $185.00 to $190.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Citigroup downgraded Illumina from a "buy" rating to a "neutral" rating and reduced their price target for the company from $190.00 to $165.00 in a report on Wednesday, December 11th. Barclays cut Illumina from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $130.00 to $100.00 in a research note on Monday, February 10th. Finally, Robert W. Baird raised their price objective on Illumina from $124.00 to $139.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Illumina currently has an average rating of "Moderate Buy" and an average price target of $159.45.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ILMN. Creative Planning grew its position in Illumina by 3.3% during the 3rd quarter. Creative Planning now owns 16,679 shares of the life sciences company's stock worth $2,175,000 after acquiring an additional 535 shares during the last quarter. nVerses Capital LLC purchased a new position in Illumina during the 3rd quarter valued at about $65,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Illumina by 28.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,370 shares of the life sciences company's stock worth $2,004,000 after purchasing an additional 3,393 shares in the last quarter. Claro Advisors LLC purchased a new stake in shares of Illumina in the third quarter worth $1,275,000. Finally, Raymond James & Associates increased its stake in Illumina by 39.6% during the 3rd quarter. Raymond James & Associates now owns 441,182 shares of the life sciences company's stock valued at $57,535,000 after purchasing an additional 125,073 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company's stock.

Illumina Stock Performance

The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $15.90 billion, a PE ratio of -13.05 and a beta of 1.10. The business's fifty day moving average is $132.74 and its two-hundred day moving average is $134.82.

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

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.