Illumina (NASDAQ:ILMN) Shares Gap Down Following Analyst Downgrade

Illumina, Inc. (NASDAQ:ILMN - Get Free Report)'s stock price gapped down prior to trading on Monday after Morgan Stanley lowered their price target on the stock from $150.00 to $136.00. The stock had previously closed at $111.06, but opened at $105.69. Morgan Stanley currently has an equal weight rating on the stock. Illumina shares last traded at $103.52, with a volume of 1,108,817 shares traded.

Several other equities research analysts also recently commented on ILMN. TD Cowen downgraded Illumina from a "buy" rating to a "hold" rating and dropped their target price for the company from $177.00 to $140.00 in a report on Friday, February 7th. Piper Sandler upped their target price on shares of Illumina from $185.00 to $190.00 and gave the company an "overweight" rating in a research note on Monday. Citigroup downgraded shares of Illumina from a "buy" rating to a "neutral" rating and decreased their target price for the company from $190.00 to $165.00 in a research note on Wednesday, December 11th. UBS Group upped their target price on shares of Illumina from $133.00 to $145.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Finally, Guggenheim dropped their target price on Illumina from $170.00 to $150.00 and set a "buy" rating on the stock in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Illumina presently has an average rating of "Moderate Buy" and a consensus price target of $159.45.

Institutional Trading of Illumina

Several institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its holdings in Illumina by 153.7% in the fourth quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company's stock worth $32,000 after acquiring an additional 146 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Illumina in the fourth quarter worth about $32,000. Assetmark Inc. lifted its holdings in Illumina by 954.8% in the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company's stock worth $44,000 after acquiring an additional 296 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in Illumina during the 4th quarter worth $45,000. Finally, Lee Danner & Bass Inc. bought a new position in Illumina during the 4th quarter worth $48,000. Institutional investors own 89.42% of the company's stock.

Illumina Stock Performance

The stock has a market capitalization of $15.90 billion, a P/E ratio of -13.05 and a beta of 1.10. The stock has a 50 day moving average of $133.56 and a 200 day moving average of $134.88. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 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 analysts predict that Illumina, Inc. will post 4.42 EPS 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.