Illumina (NASDAQ:ILMN) Earns Buy Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Illumina (NASDAQ:ILMN) in a research note issued to investors on Sunday morning. The brokerage issued a buy rating on the life sciences company’s stock.

A number of other equities analysts also recently issued reports on ILMN. Robert W. Baird raised 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. Evercore ISI lowered their target price on Illumina from $195.00 to $175.00 and set an outperform rating on the stock in a research report on Tuesday, June 11th. Scotiabank lowered their target price on Illumina from $185.00 to $176.00 and set a sector outperform rating on the stock in a research report on Monday, May 6th. Stephens reiterated an overweight rating and set a $170.00 target price on shares of Illumina in a research report on Tuesday, May 7th. Finally, Royal Bank of Canada reiterated an outperform rating and set a $253.00 target price on shares of Illumina in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $157.62.

Illumina Stock Performance

ILMN stock opened at $105.51 on Friday. The company has a market cap of $16.81 billion, a P/E ratio of -12.95 and a beta of 1.15. 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. The stock’s fifty day moving average price is $111.33 and its 200-day moving average price is $127.14.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the business posted $0.08 EPS. On average, equities analysts forecast that Illumina will post 0.98 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ILMN. Trivant Custom Portfolio Group LLC boosted its holdings in shares of Illumina by 166.7% in the first quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock valued at $27,000 after purchasing an additional 125 shares during the period. VisionPoint Advisory Group LLC boosted its holdings in shares of Illumina by 344.6% in the third quarter. VisionPoint Advisory Group LLC now owns 249 shares of the life sciences company’s stock valued at $34,000 after purchasing an additional 193 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in shares of Illumina in the fourth quarter valued at approximately $37,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Illumina by 86.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock valued at $39,000 after purchasing an additional 132 shares during the period. Finally, Gradient Investments LLC boosted its holdings in shares of Illumina by 375.0% in the fourth quarter. Gradient Investments LLC now owns 285 shares of the life sciences company’s stock valued at $40,000 after purchasing an additional 225 shares during the period. Hedge funds and other institutional investors 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.