Illumina (NASDAQ:ILMN) Price Target Raised to $190.00

Illumina (NASDAQ:ILMN) had its price objective raised by Canaccord Genuity Group from $140.00 to $190.00 in a report published on Tuesday morning, MarketBeat Ratings reports. Canaccord Genuity Group currently has a hold rating on the life sciences company’s stock.

Several other equities analysts also recently weighed in on the company. Weiss Ratings raised Illumina from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 3rd. Guggenheim raised their price target on shares of Illumina from $180.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 29th. Barclays boosted their target price on shares of Illumina from $122.00 to $145.00 and gave the stock an “underweight” rating in a research report on Wednesday, June 24th. JPMorgan Chase & Co. raised shares of Illumina from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $125.00 to $185.00 in a report on Wednesday, June 10th. Finally, Citigroup increased their price objective on Illumina from $80.00 to $95.00 and gave the stock a “sell” rating in a report on Monday, May 4th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $153.56.

Illumina Price Performance

Illumina stock opened at $190.25 on Tuesday. The company’s 50 day moving average is $165.54 and its two-hundred day moving average is $143.04. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.56. Illumina has a 52-week low of $88.00 and a 52-week high of $196.66. The firm has a market cap of $28.78 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 3.50 and a beta of 1.47.

Illumina (NASDAQ:ILMN) last issued its earnings results on Thursday, April 30th. The life sciences company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.10. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Illumina had a net margin of 19.42% and a return on equity of 31.01%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.97 EPS. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. On average, research analysts expect that Illumina will post 5.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Illumina news, CAO Scott D. Ericksen sold 500 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $160.00, for a total value of $80,000.00. Following the completion of the sale, the chief accounting officer directly owned 14,446 shares of the company’s stock, valued at $2,311,360. This represents a 3.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Keith A. Meister sold 235,000 shares of Illumina stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $163.63, for a total transaction of $38,453,050.00. Following the sale, the director owned 2,830,452 shares in the company, valued at approximately $463,146,860.76. This trade represents a 7.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,003,769 shares of company stock valued at $155,710,908. 2.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Illumina

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Illumina by 7.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,081 shares of the life sciences company’s stock valued at $142,000 after buying an additional 79 shares during the period. HighPoint Advisor Group LLC lifted its stake in shares of Illumina by 3.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,218 shares of the life sciences company’s stock worth $291,000 after buying an additional 80 shares during the last quarter. Elevation Wealth Partners LLC boosted its stake in Illumina by 52.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 244 shares of the life sciences company’s stock valued at $43,000 after purchasing an additional 84 shares during the period. Meeder Advisory Services Inc. boosted its holdings in Illumina by 3.1% in the 1st quarter. Meeder Advisory Services Inc. now owns 2,822 shares of the life sciences company’s stock valued at $348,000 after purchasing an additional 85 shares during the period. Finally, Toronto Dominion Bank increased its position in shares of Illumina by 0.3% in the fourth quarter. Toronto Dominion Bank now owns 33,605 shares of the life sciences company’s stock worth $4,407,000 after purchasing an additional 92 shares during the period. Institutional investors own 89.42% of the company’s stock.

Illumina Company Profile

Illumina, Inc (NASDAQ: ILMN) is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company’s product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.