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

Illumina (NASDAQ:ILMN) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $253.00 price objective on shares of Illumina in a research note on Tuesday, April 9th. Robert W. Baird lifted their price objective on Illumina from $125.00 to $128.00 and gave the company a “neutral” rating in a research report on Friday. Stephens reaffirmed an “overweight” rating and issued a $170.00 target price on shares of Illumina in a research report on Wednesday, April 10th. HSBC lowered Illumina from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Finally, OTR Global restated a “mixed” rating on shares of Illumina in a report on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $165.10.

Illumina Stock Down 4.9 %

Shares of ILMN traded down $6.06 during mid-day trading on Friday, reaching $117.93. The company’s stock had a trading volume of 2,986,962 shares, compared to its average volume of 1,712,341. The company has a market cap of $18.78 billion, a price-to-earnings ratio of -16.07 and a beta of 1.20. The business has a fifty day moving average of $130.33 and a 200 day moving average of $127.11. The company has a quick ratio of 1.29, a current ratio of 1.66 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.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. Illumina had a positive return on equity of 2.20% and a negative net margin of 25.78%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the business earned $0.08 EPS. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, analysts forecast that Illumina will post 0.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jacob Thaysen bought 7,330 shares of Illumina stock in a transaction that occurred on Thursday, February 22nd. The stock was acquired 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 owns 14,861 shares in the company, valued at $2,010,544.69. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Carson Advisory Inc. raised its stake in shares of Illumina by 13.7% in the 1st quarter. Carson Advisory Inc. now owns 1,655 shares of the life sciences company’s stock valued at $227,000 after buying an additional 200 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its stake in Illumina by 12.0% in the first quarter. Chevy Chase Trust Holdings LLC now owns 528,466 shares of the life sciences company’s stock valued at $72,569,000 after acquiring an additional 56,728 shares during the period. GSA Capital Partners LLP acquired a new position in Illumina in the first quarter worth about $645,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Illumina by 24.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,439 shares of the life sciences company’s stock worth $198,000 after purchasing an additional 284 shares during the period. Finally, Jennison Associates LLC boosted its holdings in Illumina by 91.0% during the first quarter. Jennison Associates LLC now owns 336,920 shares of the life sciences company’s stock valued at $46,266,000 after purchasing an additional 160,490 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

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.