TD Cowen Boosts Illumina (NASDAQ:ILMN) Price Target to $126.00

Illumina (NASDAQ:ILMN) had its price target boosted by investment analysts at TD Cowen from $122.00 to $126.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the life sciences company’s stock. TD Cowen’s target price would suggest a potential upside of 4.05% from the stock’s previous close.

Several other brokerages have also recently issued reports on ILMN. Stephens restated an “overweight” rating and issued a $170.00 target price on shares of Illumina in a report on Wednesday, July 10th. StockNews.com started coverage on Illumina in a research note on Sunday, June 30th. They issued a “buy” rating on the stock. UBS Group upped their price objective on Illumina from $131.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday. JPMorgan Chase & Co. cut their price target on Illumina from $130.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $242.00 price target on shares of Illumina in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $151.57.

Illumina Stock Up 4.1 %

Shares of Illumina stock traded up $4.74 on Wednesday, reaching $121.10. The company’s stock had a trading volume of 4,502,897 shares, compared to its average volume of 2,124,844. The company has a market capitalization of $19.29 billion, a price-to-earnings ratio of -14.86 and a beta of 1.15. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. Illumina has a 52 week low of $89.00 and a 52 week high of $195.64. The firm’s fifty day simple moving average is $111.70 and its two-hundred day simple moving average is $123.25.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.12 by $0.24. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. Illumina’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period last year, the company earned $0.32 EPS. Equities analysts anticipate that Illumina will post 1.5 earnings per share for the current year.

Institutional Investors Weigh In On Illumina

Several large investors have recently added to or reduced their stakes in ILMN. Bouvel Investment Partners LLC boosted its stake in shares of Illumina by 1.3% during the 1st quarter. Bouvel Investment Partners LLC now owns 6,547 shares of the life sciences company’s stock worth $899,000 after purchasing an additional 84 shares during the period. UMB Bank n.a. grew its stake in shares of Illumina by 7.0% during the second quarter. UMB Bank n.a. now owns 1,341 shares of the life sciences company’s stock valued at $140,000 after buying an additional 88 shares during the last quarter. STF Management LP raised its holdings in shares of Illumina by 3.5% in the fourth quarter. STF Management LP now owns 2,644 shares of the life sciences company’s stock worth $368,000 after buying an additional 90 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Illumina by 12.3% during the 1st quarter. Global Retirement Partners LLC now owns 856 shares of the life sciences company’s stock worth $118,000 after acquiring an additional 94 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its holdings in Illumina by 0.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 13,562 shares of the life sciences company’s stock valued at $1,862,000 after acquiring an additional 98 shares during the period. 89.42% of the stock is owned by institutional investors.

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.