Illumina (NASDAQ:ILMN) Price Target Cut to $85.00 by Analysts at Citigroup

Illumina (NASDAQ:ILMN - Free Report) had its price objective lowered by Citigroup from $90.00 to $85.00 in a research report report published on Monday,Benzinga reports. Citigroup currently has a neutral rating on the life sciences company's stock.

ILMN has been the topic of a number of other research reports. HSBC lowered shares of Illumina from a "buy" rating to a "hold" rating and set a $100.00 price objective on the stock. in a report on Friday, February 28th. Morgan Stanley lowered their price target 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. Robert W. Baird reduced their price objective on Illumina from $127.00 to $90.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. Guggenheim decreased their price objective on Illumina from $170.00 to $150.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. Finally, Royal Bank of Canada dropped their target price on Illumina from $247.00 to $128.00 and set an "outperform" rating for the company in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Illumina presently has a consensus rating of "Moderate Buy" and an average target price of $138.70.

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Illumina Price Performance

Illumina stock traded up $3.52 during trading hours on Monday, hitting $74.78. 3,040,860 shares of the stock were exchanged, compared to its average volume of 2,265,473. The stock has a market capitalization of $11.85 billion, a P/E ratio of -9.74, a P/E/G ratio of 1.60 and a beta of 1.38. The business's 50-day moving average is $88.58 and its two-hundred day moving average is $122.32. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. Illumina has a 12 month low of $68.70 and a 12 month high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings data 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 13.37%. Equities research analysts expect that Illumina will post 4.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Illumina

A number of hedge funds have recently modified their holdings of the business. Capital World Investors raised its holdings in Illumina by 408.6% during the 4th quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company's stock worth $2,408,721,000 after buying an additional 14,481,232 shares during the period. WCM Investment Management LLC raised its holdings in shares of Illumina by 26.6% during the fourth quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company's stock worth $551,625,000 after acquiring an additional 867,673 shares during the period. Bank of New York Mellon Corp lifted its position in Illumina by 0.8% in the 4th quarter. Bank of New York Mellon Corp now owns 3,402,057 shares of the life sciences company's stock valued at $454,617,000 after acquiring an additional 27,618 shares in the last quarter. Geode Capital Management LLC boosted its stake in Illumina by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,727,827 shares of the life sciences company's stock worth $354,933,000 after purchasing an additional 48,018 shares during the period. Finally, Brown Advisory Inc. increased its holdings in Illumina by 54,220.9% during the 4th quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company's stock worth $255,586,000 after purchasing an additional 1,909,118 shares in the last quarter. Institutional investors and hedge funds 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.