Guggenheim Lowers Illumina (NASDAQ:ILMN) Price Target to $114.00

Illumina (NASDAQ:ILMN) had its price objective lowered by research analysts at Guggenheim from $122.00 to $114.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the life sciences company’s stock. Guggenheim’s target price would suggest a potential upside of 50.48% from the company’s current price.

Several other brokerages have also recently weighed in on ILMN. Royal Bank of Canada lowered their price target on shares of Illumina from $128.00 to $112.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. Canaccord Genuity Group dropped their price target on shares of Illumina from $115.00 to $92.00 and set a “hold” rating for the company in a research note on Tuesday, April 29th. Citigroup reduced their price target on shares of Illumina from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Barclays decreased their price objective on Illumina from $100.00 to $77.00 and set an “underweight” rating on the stock in a report on Thursday, April 10th. Finally, TD Cowen cut Illumina from a “buy” rating to a “hold” rating and cut their target price for the stock from $177.00 to $140.00 in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Illumina currently has an average rating of “Moderate Buy” and an average target price of $133.00.

Illumina Stock Down 4.8 %

ILMN stock opened at $75.76 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average of $78.94 and a two-hundred day moving average of $113.32. Illumina has a 12 month low of $68.70 and a 12 month high of $156.66. The company has a market cap of $11.99 billion, a price-to-earnings ratio of -9.86, a PEG ratio of 1.60 and a beta of 1.35.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 earnings per share. As a group, analysts forecast that Illumina will post 4.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Illumina

Institutional investors have recently modified their holdings of the business. Golden State Wealth Management LLC acquired a new position in shares of Illumina during the fourth quarter worth about $32,000. Fourth Dimension Wealth LLC acquired a new position in Illumina in the fourth quarter valued at $40,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Illumina during the 4th quarter valued at approximately $45,000. Assetmark Inc. raised its stake in shares of Illumina by 954.8% during the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock worth $44,000 after purchasing an additional 296 shares during the last quarter. Finally, Lee Danner & Bass Inc. purchased a new position in Illumina during the 4th quarter worth $48,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

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.