StockNews.com Downgrades Illumina (NASDAQ:ILMN) to Hold

StockNews.com cut shares of Illumina (NASDAQ:ILMN) from a buy rating to a hold rating in a research report sent to investors on Friday.

Several other research firms have also recently issued reports on ILMN. Robert W. Baird raised their price target on Illumina from $125.00 to $128.00 and gave the company a neutral rating in a report on Friday. Barclays lifted their price target on shares of Illumina from $85.00 to $100.00 and gave the stock an underweight rating in a research report on Wednesday, April 10th. Stephens restated an overweight rating and issued a $170.00 price objective on shares of Illumina in a report on Wednesday, April 10th. TD Cowen cut shares of Illumina from an outperform rating to a market perform rating and set a $144.00 target price for the company. in a research report on Thursday, January 4th. Finally, OTR Global restated a mixed rating on shares of Illumina in a research report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $164.65.

Illumina Stock Performance

NASDAQ:ILMN opened at $118.98 on Friday. The stock has a market capitalization of $18.95 billion, a P/E ratio of -14.60 and a beta of 1.20. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. Illumina has a 1 year low of $89.00 and a 1 year high of $213.91. The firm has a 50 day moving average of $129.67 and a 200-day moving average of $127.00.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.08 earnings per share. As a group, sell-side analysts anticipate that Illumina will post 0.91 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jacob Thaysen purchased 7,330 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was purchased at an average price of $135.29 per share, for a total transaction of $991,675.70. Following the completion of the purchase, the chief executive officer now directly owns 14,861 shares in the company, valued at approximately $2,010,544.69. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Institutional Trading of Illumina

Institutional investors and hedge funds have recently bought and sold shares of the business. Trivant Custom Portfolio Group LLC increased its holdings in shares of Illumina by 166.7% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock worth $27,000 after acquiring an additional 125 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in Illumina during the third quarter worth $30,000. VisionPoint Advisory Group LLC boosted its position in Illumina by 344.6% during the third quarter. VisionPoint Advisory Group LLC now owns 249 shares of the life sciences company’s stock worth $34,000 after purchasing an additional 193 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in shares of Illumina in the fourth quarter valued at $37,000. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Illumina by 86.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock valued at $39,000 after purchasing an additional 132 shares during the period. Institutional investors own 89.42% of the company’s stock.

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.