Morgan Stanley Reiterates Equal Weight Rating for Illumina (NASDAQ:ILMN)

Morgan Stanley reissued their equal weight rating on shares of Illumina (NASDAQ:ILMN - Free Report) in a report issued on Tuesday, MarketBeat reports. They currently have a $156.00 price target on the life sciences company's stock.

ILMN has been the subject of several other reports. Argus upgraded shares of Illumina from a "hold" rating to a "buy" rating and set a $150.00 target price for the company in a research note on Wednesday, August 28th. Leerink Partners raised their price objective on shares of Illumina from $160.00 to $200.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Piper Sandler reduced their price target on shares of Illumina from $195.00 to $185.00 and set an "overweight" rating for the company in a research report on Monday. StockNews.com started coverage on shares of Illumina in a research report on Thursday, August 29th. They set a "buy" rating on the stock. Finally, Daiwa Capital Markets upgraded shares of Illumina from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $120.00 to $154.00 in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $164.00.

Illumina Price Performance

ILMN stock traded down $3.88 during mid-day trading on Tuesday, reaching $147.62. The company's stock had a trading volume of 2,021,892 shares, compared to its average volume of 2,003,543. The company's 50 day moving average is $138.50 and its two-hundred day moving average is $123.77. The stock has a market cap of $23.41 billion, a PE ratio of -15.21 and a beta of 1.13. The company has a current ratio of 2.43, a quick ratio of 0.86 and a debt-to-equity ratio of 0.94. Illumina has a fifty-two week low of $92.26 and a fifty-two week high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.26. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The company's revenue was down 3.5% on a year-over-year basis. During the same period last year, the business earned $0.33 EPS. Equities research analysts expect that Illumina will post 4.11 EPS for the current year.

Hedge Funds Weigh In On Illumina

Several hedge funds and other institutional investors have recently modified their holdings of ILMN. Janney Montgomery Scott LLC grew its stake in shares of Illumina by 41.5% during the first quarter. Janney Montgomery Scott LLC now owns 3,070 shares of the life sciences company's stock worth $422,000 after purchasing an additional 900 shares during the period. Empowered Funds LLC lifted its position in shares of Illumina by 26.9% in the first quarter. Empowered Funds LLC now owns 3,340 shares of the life sciences company's stock valued at $459,000 after buying an additional 708 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of Illumina during the first quarter worth approximately $307,000. Sei Investments Co. increased its stake in Illumina by 309.3% during the 1st quarter. Sei Investments Co. now owns 71,143 shares of the life sciences company's stock worth $9,769,000 after acquiring an additional 53,761 shares during the period. Finally, QRG Capital Management Inc. increased its stake in Illumina by 25.4% during the 1st quarter. QRG Capital Management Inc. now owns 6,874 shares of the life sciences company's stock worth $944,000 after acquiring an additional 1,393 shares during the period. 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.