Illumina (NASDAQ:ILMN) Sets New 52-Week Low After Analyst Downgrade

Illumina, Inc. (NASDAQ:ILMN) reached a new 52-week low on Wednesday after Royal Bank of Canada lowered their price target on the stock from $128.00 to $112.00. Royal Bank of Canada currently has an outperform rating on the stock. Illumina traded as low as $69.38 and last traded at $70.30, with a volume of 3213335 shares changing hands. The stock had previously closed at $73.45.

Other equities research analysts have also recently issued research reports about the stock. HSBC cut shares of Illumina from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research note on Friday, February 28th. Stephens restated an “overweight” rating and set a $156.00 price target on shares of Illumina in a research report on Tuesday, March 11th. Robert W. Baird dropped their price objective on shares of Illumina from $127.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. TD Cowen lowered shares of 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 research note on Friday, February 7th. Finally, Hsbc Global Res lowered Illumina from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $139.85.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc boosted its position in Illumina by 153.7% in the 4th quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock valued at $32,000 after buying an additional 146 shares during the period. Golden State Wealth Management LLC acquired a new position in Illumina during the 4th quarter worth $32,000. Fourth Dimension Wealth LLC purchased a new stake in Illumina during the 4th quarter worth about $40,000. Assetmark Inc. raised its position in Illumina by 954.8% in the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock valued at $44,000 after purchasing an additional 296 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Illumina in the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Stock Performance

The stock has a 50-day moving average price of $90.77 and a 200 day moving average price of $123.08. 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 firm has a market capitalization of $12.09 billion, a price-to-earnings ratio of -9.93, a P/E/G ratio of 1.60 and a beta of 1.38.

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 the consensus estimate of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. On average, analysts forecast that Illumina, Inc. will post 4.51 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.