Illumina (NASDAQ:ILMN) Raised to Strong-Buy at Daiwa America

Daiwa America upgraded shares of Illumina (NASDAQ:ILMN) to a strong-buy rating in a research note released on Friday morning, Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Barclays raised Illumina from an underweight rating to an equal weight rating and set a $125.00 target price on the stock in a research note on Wednesday, August 14th. Evercore ISI lowered their price objective on shares of Illumina from $195.00 to $175.00 and set an outperform rating for the company in a report on Tuesday, June 11th. UBS Group upped their target price on Illumina from $131.00 to $133.00 and gave the stock a neutral rating in a report on Wednesday, August 7th. Robert W. Baird increased their target price on Illumina from $119.00 to $124.00 and gave the stock a neutral rating in a research report on Wednesday, August 7th. Finally, Citigroup lifted their price target on Illumina from $140.00 to $155.00 and gave the company a buy rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Illumina has a consensus rating of Moderate Buy and an average price target of $151.10.

Illumina Trading Up 4.3 %

Shares of ILMN stock opened at $135.90 on Friday. Illumina has a 12-month low of $89.00 and a 12-month high of $171.50. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $115.20 and a two-hundred day moving average price of $122.17. The firm has a market cap of $21.65 billion, a P/E ratio of -16.67 and a beta of 1.15.

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

Hedge Funds Weigh In On Illumina

A number of hedge funds have recently bought and sold shares of ILMN. Trivant Custom Portfolio Group LLC lifted its stake in Illumina by 166.7% during 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. Wetzel Investment Advisors Inc. bought a new position in Illumina during the 4th quarter valued at about $37,000. Massmutual Trust Co. FSB ADV lifted its stake 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 valued at $39,000 after acquiring an additional 132 shares during the period. MeadowBrook Investment Advisors LLC bought a new position in Illumina during the 4th quarter valued at about $42,000. Finally, Industrial Alliance Investment Management Inc. bought a new position in Illumina during the 2nd quarter valued at about $34,000. 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.