Morgan Stanley Cuts Illumina (NASDAQ:ILMN) Price Target to $150.00

Illumina (NASDAQ:ILMN - Get Free Report) had its price objective lowered by equities researchers at Morgan Stanley from $156.00 to $150.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the life sciences company's stock. Morgan Stanley's price objective would indicate a potential upside of 4.01% from the company's previous close.

Several other research analysts have also recently weighed in on ILMN. HSBC upgraded shares of Illumina from a "hold" rating to a "buy" rating and set a $180.00 price target on the stock in a research note on Thursday, October 17th. Citigroup lowered shares of Illumina from a "buy" rating to a "neutral" rating and cut their target price for the company from $190.00 to $165.00 in a report on Wednesday, December 11th. Canaccord Genuity Group raised their price objective on Illumina from $130.00 to $145.00 and gave the company a "hold" rating in a research note on Tuesday, November 5th. Hsbc Global Res raised Illumina from a "hold" rating to a "strong-buy" rating and set a $180.00 target price on the stock in a research note on Thursday, October 17th. Finally, UBS Group boosted their price objective on shares of Illumina from $133.00 to $145.00 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. Eight research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Illumina currently has an average rating of "Moderate Buy" and a consensus price target of $165.63.

Illumina Stock Up 5.5 %

Shares of ILMN traded up $7.53 during trading hours on Monday, hitting $144.22. The company had a trading volume of 2,777,219 shares, compared to its average volume of 1,629,823. The firm has a fifty day moving average price of $141.11 and a 200-day moving average price of $132.61. 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 has a 52-week low of $100.08 and a 52-week high of $156.66. The stock has a market capitalization of $22.87 billion, a price-to-earnings ratio of -14.48 and a beta of 1.11.

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

Hedge Funds Weigh In On Illumina

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings 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 valued at $354,933,000 after purchasing an additional 48,018 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of Illumina by 3.6% in the 3rd quarter. Primecap Management Co. CA now owns 2,516,359 shares of the life sciences company's stock worth $328,158,000 after buying an additional 87,599 shares in the last quarter. Janus Henderson Group PLC raised its position in Illumina by 40.5% during the third quarter. Janus Henderson Group PLC now owns 2,168,057 shares of the life sciences company's stock worth $282,735,000 after acquiring an additional 625,245 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Illumina by 305.0% in the second quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company's stock valued at $155,067,000 after purchasing an additional 1,118,747 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Illumina by 4.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,260,137 shares of the life sciences company's stock valued at $164,334,000 after purchasing an additional 54,319 shares during the last quarter. 89.42% of the stock is currently owned by hedge funds and other 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.