Illumina (NASDAQ:ILMN) Rating Increased to Buy at Citigroup

Illumina (NASDAQ:ILMNGet Free Report) was upgraded by Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, Briefing.com reports. The brokerage presently has a $140.00 target price on the life sciences company’s stock. Citigroup’s target price would suggest a potential upside of 31.23% from the stock’s previous close.

ILMN has been the topic of a number of other reports. Barclays upped their price objective on Illumina from $85.00 to $100.00 and gave the company an “underweight” rating in a report on Wednesday, April 10th. Robert W. Baird upped their price target on Illumina from $125.00 to $128.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Royal Bank of Canada decreased their price target on Illumina from $249.00 to $242.00 and set an “outperform” rating on the stock in a research note on Monday, July 1st. OTR Global restated a “mixed” rating on shares of Illumina in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group began coverage on Illumina in a research note on Monday, June 3rd. They set a “hold” rating and a $115.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Illumina currently has an average rating of “Hold” and a consensus target price of $158.57.

Check Out Our Latest Analysis on Illumina

Illumina Trading Down 1.1 %

Shares of Illumina stock opened at $106.68 on Wednesday. The stock has a market cap of $16.99 billion, a P/E ratio of -13.09 and a beta of 1.15. The stock’s 50 day simple moving average is $109.34 and its 200-day simple moving average is $125.92. Illumina has a 1-year low of $89.00 and a 1-year high of $195.64. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.36.

Illumina (NASDAQ:ILMNGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The life sciences company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the firm posted $0.08 earnings per share. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. Analysts predict that Illumina will post 0.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Illumina

Several large investors have recently bought and sold shares of ILMN. WCM Investment Management LLC increased its holdings in Illumina by 2,232.3% in the first quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock valued at $463,760,000 after buying an additional 3,232,418 shares during the last quarter. Vanguard Group Inc. increased its holdings in Illumina by 15.0% in the third quarter. Vanguard Group Inc. now owns 17,967,758 shares of the life sciences company’s stock valued at $2,466,614,000 after buying an additional 2,336,935 shares during the last quarter. Capital World Investors purchased a new position in Illumina in the fourth quarter valued at $271,753,000. Norges Bank purchased a new position in shares of Illumina during the fourth quarter worth about $264,636,000. Finally, Coatue Management LLC purchased a new position in shares of Illumina during the fourth quarter worth about $119,285,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Illumina Company Profile

(Get Free Report)

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.

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