Illumina (NASDAQ:ILMN) Given “Equal Weight” Rating at Morgan Stanley

Morgan Stanley restated their equal weight rating on shares of Illumina (NASDAQ:ILMN) in a research report released on Tuesday, Marketbeat reports. The brokerage currently has a $156.00 target price on the life sciences company’s stock.

A number of other analysts also recently commented on the company. Canaccord Genuity Group boosted their target price on Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Robert W. Baird upped their price objective on Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. UBS Group upped their price objective on Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.00.

Illumina Price Performance

ILMN stock traded down $7.24 on Tuesday, reaching $135.00. 1,529,883 shares of the company’s stock were exchanged, compared to its average volume of 2,005,431. The stock has a fifty day moving average of $139.44 and a 200-day moving average of $124.23. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. The firm has a market cap of $21.41 billion, a PE ratio of -13.76 and a beta of 1.13. Illumina has a twelve month low of $92.69 and a twelve month high of $156.66.

Illumina (NASDAQ:ILMN) last posted its earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. Illumina’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 earnings per share. As a group, equities analysts predict that Illumina will post 4.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Illumina

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Industrial Alliance Investment Management Inc. acquired a new stake in Illumina during the second quarter worth about $34,000. Versant Capital Management Inc grew its stake in shares of Illumina by 292.9% in the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after buying an additional 246 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Illumina by 65.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after buying an additional 168 shares in the last quarter. Private Trust Co. NA grew its stake in shares of Illumina by 81.2% in the third quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock valued at $62,000 after buying an additional 212 shares in the last quarter. Finally, Focused Wealth Management Inc acquired a new stake in shares of Illumina in the third quarter valued at about $63,000. 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.