Illumina (NASDAQ:ILMN) Price Target Cut to $100.00 by Analysts at Morgan Stanley

Illumina (NASDAQ:ILMN) had its price target cut by Morgan Stanley from $136.00 to $100.00 in a research report report published on Monday,Benzinga reports. They currently have an equal weight rating on the life sciences company’s stock.

ILMN has been the subject of a number of other research reports. Stephens reissued an “overweight” rating and set a $156.00 price objective on shares of Illumina in a research note on Tuesday, March 11th. Royal Bank of Canada dropped their price target on shares of Illumina from $128.00 to $112.00 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. Guggenheim cut their price target on shares of Illumina from $122.00 to $114.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Robert W. Baird decreased their price objective on shares of Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Finally, Barclays dropped their target price on shares of Illumina from $100.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $130.95.

Illumina Stock Performance

NASDAQ:ILMN opened at $78.21 on Monday. The business has a 50 day moving average of $78.60 and a 200 day moving average of $112.24. The company has a market capitalization of $12.38 billion, a price-to-earnings ratio of -10.18, a PEG ratio of 1.60 and a beta of 1.35. Illumina has a 1-year low of $68.70 and a 1-year high of $156.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42.

Illumina (NASDAQ:ILMN) last released its earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. Illumina’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS. On average, sell-side analysts predict that Illumina will post 4.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Ankur Dhingra bought 6,100 shares of the stock in a transaction dated Monday, May 12th. The stock was bought at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the purchase, the chief financial officer now directly owns 24,906 shares in the company, valued at $2,022,616.26. This trade represents a 32.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Illumina

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital World Investors lifted its position in Illumina by 408.6% during the fourth quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company’s stock valued at $2,408,721,000 after buying an additional 14,481,232 shares during the period. Brown Advisory Inc. increased its stake in shares of Illumina by 54,220.9% in the 4th quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company’s stock worth $255,586,000 after acquiring an additional 1,909,118 shares in the last quarter. Norges Bank purchased a new position in Illumina during the 4th quarter valued at about $228,714,000. Bessemer Group Inc. lifted its position in Illumina by 32,837.5% during the 4th quarter. Bessemer Group Inc. now owns 1,348,131 shares of the life sciences company’s stock valued at $180,152,000 after acquiring an additional 1,344,038 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Illumina by 2,057.5% during the first quarter. Assenagon Asset Management S.A. now owns 922,281 shares of the life sciences company’s stock worth $73,174,000 after acquiring an additional 879,533 shares in the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

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.