Canaccord Genuity Group Lowers Illumina (NASDAQ:ILMN) Price Target to $115.00

Illumina (NASDAQ:ILMN) had its price target decreased by Canaccord Genuity Group from $135.00 to $115.00 in a research report report published on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the life sciences company’s stock.

ILMN has been the topic of a number of other research reports. Morgan Stanley cut their target price on shares of Illumina from $150.00 to $136.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 11th. Stephens raised their target price on shares of Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Barclays cut shares of Illumina from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $130.00 to $100.00 in a report on Monday, February 10th. Royal Bank of Canada cut their target price on shares of Illumina from $250.00 to $247.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Finally, TD Cowen cut shares of Illumina from a “buy” rating to a “hold” rating and cut their target price for the stock from $177.00 to $140.00 in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $146.85.

Illumina Stock Down 1.7 %

Shares of Illumina stock opened at $84.52 on Tuesday. The business has a 50-day moving average of $116.45 and a 200-day moving average of $130.84. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42. The company has a market capitalization of $13.39 billion, a PE ratio of -11.01, a P/E/G ratio of 1.60 and a beta of 1.17. Illumina has a 1-year low of $80.18 and a 1-year high of $156.66.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results 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 13.37% and a negative net margin of 27.95%. As a group, equities analysts forecast that Illumina will post 4.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ILMN. Capital World Investors grew its position in Illumina by 408.6% in the fourth quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company’s stock worth $2,408,721,000 after buying an additional 14,481,232 shares during the last quarter. Brown Advisory Inc. grew its position in Illumina by 54,220.9% in the fourth quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company’s stock worth $255,586,000 after buying an additional 1,909,118 shares during the last quarter. Norges Bank acquired a new position in Illumina in the fourth quarter worth approximately $228,714,000. Bessemer Group Inc. grew its position in Illumina by 32,837.5% in the fourth quarter. Bessemer Group Inc. now owns 1,348,131 shares of the life sciences company’s stock worth $180,152,000 after buying an additional 1,344,038 shares during the last quarter. Finally, WCM Investment Management LLC grew its position in 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 worth $551,625,000 after purchasing an additional 867,673 shares in the last quarter. Institutional investors and hedge funds 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.