Royal Bank of Canada Lowers Illumina (NASDAQ:ILMN) Price Target to $242.00

Illumina (NASDAQ:ILMN) had its price target cut by stock analysts at Royal Bank of Canada from $249.00 to $242.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the life sciences company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 129.36% from the stock’s current price.

A number of other equities analysts have also recently issued reports on ILMN. OTR Global restated a “mixed” rating on shares of Illumina in a research note on Wednesday, March 20th. Jefferies Financial Group began coverage on shares of Illumina in a report on Monday, June 3rd. They issued a “hold” rating and a $115.00 target price on the stock. Stephens reaffirmed an “overweight” rating and issued a $170.00 target price on shares of Illumina in a report on Tuesday, May 7th. Evercore ISI lowered their target price on shares of Illumina from $195.00 to $175.00 and set an “outperform” rating on the stock in a report on Tuesday, June 11th. Finally, TD Cowen decreased their price objective on shares of Illumina from $140.00 to $122.00 and set a “hold” rating on the stock in a report on Thursday, June 6th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $157.62.

Illumina Price Performance

NASDAQ:ILMN opened at $105.51 on Monday. The stock has a market cap of $16.81 billion, a P/E ratio of -12.95 and a beta of 1.15. Illumina has a one year low of $89.00 and a one year high of $195.64. The company has a fifty day moving average price of $111.33 and a 200 day moving average price of $127.14. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.36.

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, beating analysts’ consensus estimates of $0.04 by $0.05. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the company posted $0.08 EPS. The business’s revenue was down 1.0% on a year-over-year basis. Analysts anticipate that Illumina will post 0.98 earnings per share for the current year.

Institutional Trading of Illumina

A number of hedge funds have recently modified their holdings of ILMN. Trivant Custom Portfolio Group LLC raised its position in shares of Illumina by 166.7% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock valued at $27,000 after acquiring an additional 125 shares during the period. VisionPoint Advisory Group LLC raised its position in shares of Illumina by 344.6% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 249 shares of the life sciences company’s stock valued at $34,000 after acquiring an additional 193 shares during the period. Wetzel Investment Advisors Inc. acquired a new stake in shares of Illumina in the 4th quarter valued at approximately $37,000. Massmutual Trust Co. FSB ADV raised its holdings in Illumina by 86.8% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock worth $39,000 after buying an additional 132 shares during the period. Finally, Gradient Investments LLC raised its holdings in Illumina by 375.0% during the 4th quarter. Gradient Investments LLC now owns 285 shares of the life sciences company’s stock worth $40,000 after buying an additional 225 shares during the period. 89.42% of the stock is currently owned by institutional investors and hedge funds.

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.