Citigroup Lowers Illumina (NASDAQ:ILMN) Price Target to $85.00

Illumina (NASDAQ:ILMN) had its price objective cut by Citigroup from $90.00 to $85.00 in a research report released on Monday morning,Benzinga reports. They currently have a neutral rating on the life sciences company’s stock.

Other research analysts have also recently issued reports about the company. Hsbc Global Res cut Illumina from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Stephens reaffirmed an “overweight” rating and issued a $156.00 price target on shares of Illumina in a report on Tuesday, March 11th. Canaccord Genuity Group cut their price objective on shares of Illumina from $135.00 to $115.00 and set a “hold” rating on the stock in a report on Tuesday, March 11th. Piper Sandler upped their target price on shares of Illumina from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, Royal Bank of Canada cut their price target on shares of Illumina from $247.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Illumina has a consensus rating of “Moderate Buy” and a consensus target price of $140.65.

Illumina Stock Down 1.0 %

Shares of NASDAQ:ILMN opened at $73.45 on Monday. Illumina has a fifty-two week low of $69.55 and a fifty-two week high of $156.66. The firm’s 50 day moving average price is $95.52 and its 200 day moving average price is $124.59. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. The stock has a market cap of $11.63 billion, a price-to-earnings ratio of -9.56, a price-to-earnings-growth ratio of 1.60 and a beta of 1.38.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. As a group, equities research analysts predict that Illumina will post 4.51 earnings per share for the current fiscal year.

Institutional Trading of Illumina

Several hedge funds have recently made changes to their positions in ILMN. Captrust Financial Advisors lifted its position in Illumina by 6.5% in the third quarter. Captrust Financial Advisors now owns 8,576 shares of the life sciences company’s stock valued at $1,118,000 after purchasing an additional 524 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in shares of Illumina by 4.7% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,990 shares of the life sciences company’s stock valued at $390,000 after buying an additional 135 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of Illumina by 29.5% in the 3rd quarter. Quantinno Capital Management LP now owns 12,644 shares of the life sciences company’s stock valued at $1,649,000 after buying an additional 2,879 shares during the period. Wellington Management Group LLP boosted its stake in shares of Illumina by 2.5% in the third quarter. Wellington Management Group LLP now owns 30,946 shares of the life sciences company’s stock valued at $4,036,000 after buying an additional 755 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC acquired a new position in Illumina during the third quarter worth $414,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

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.