Illumina (NASDAQ:ILMN) Hits New 1-Year Low on Analyst Downgrade

Illumina, Inc. (NASDAQ:ILMN)’s stock price hit a new 52-week low during mid-day trading on Wednesday after Morgan Stanley lowered their price target on the stock from $150.00 to $136.00. Morgan Stanley currently has an equal weight rating on the stock. Illumina traded as low as $99.35 and last traded at $100.45, with a volume of 123581 shares. The stock had previously closed at $100.68.

A number of other analysts have also recently issued reports on the company. TD Cowen cut Illumina from a “buy” rating to a “hold” rating and decreased their target price for the stock from $177.00 to $140.00 in a report on Friday, February 7th. HSBC raised Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Thursday, October 17th. Stephens boosted their price target on Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Robert W. Baird boosted their price target on Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, Hsbc Global Res raised Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price target on the stock in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $159.45.

Institutional Investors Weigh In On Illumina

Several institutional investors and hedge funds have recently made changes to their positions in the company. WCM Investment Management LLC raised its position in shares of Illumina by 26.6% during the 4th quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company’s stock valued at $551,625,000 after acquiring an additional 867,673 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Illumina by 0.8% during the 4th quarter. Bank of New York Mellon Corp now owns 3,402,057 shares of the life sciences company’s stock worth $454,617,000 after buying an additional 27,618 shares during the last quarter. Geode Capital Management LLC grew its stake in Illumina by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,727,827 shares of the life sciences company’s stock worth $354,933,000 after buying an additional 48,018 shares during the last quarter. Primecap Management Co. CA grew its stake in Illumina by 3.6% during the 3rd quarter. Primecap Management Co. CA now owns 2,516,359 shares of the life sciences company’s stock worth $328,158,000 after buying an additional 87,599 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in Illumina by 40.5% during the 3rd quarter. Janus Henderson Group PLC now owns 2,168,057 shares of the life sciences company’s stock worth $282,735,000 after buying an additional 625,245 shares during the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.

Illumina Stock Performance

The stock has a market capitalization of $15.97 billion, a P/E ratio of -13.14 and a beta of 1.10. The stock has a 50 day moving average of $135.10 and a 200 day moving average of $135.34. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a positive return on equity of 12.59% and a negative net margin of 27.95%. Equities analysts predict that Illumina, Inc. will post 4.42 EPS for the current year.

Illumina Company Profile

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.