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

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

Other equities research analysts have also issued reports about the company. Guggenheim decreased their target price on Illumina from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Citigroup reduced their target price on shares of Illumina from $130.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Royal Bank of Canada decreased their price target on shares of Illumina from $250.00 to $247.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. HSBC downgraded Illumina from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Friday, February 28th. Finally, Barclays lowered Illumina from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $130.00 to $100.00 in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Illumina presently has an average rating of “Moderate Buy” and an average target price of $140.90.

Illumina Trading Down 0.2 %

Shares of Illumina stock opened at $84.05 on Tuesday. Illumina has a 12-month low of $80.18 and a 12-month high of $156.66. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $13.31 billion, a P/E ratio of -10.94, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17. The stock has a fifty day simple moving average of $114.52 and a 200 day simple moving average of $130.20.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share 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, sell-side analysts anticipate that Illumina will post 4.51 earnings per share for the current fiscal year.

Institutional Trading of Illumina

Large investors have recently modified their holdings of the business. Capital World Investors lifted its position in Illumina by 408.6% during the fourth quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company’s stock valued at $2,408,721,000 after purchasing an additional 14,481,232 shares during the last quarter. WCM Investment Management LLC lifted its holdings 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 worth $551,625,000 after acquiring an additional 867,673 shares during the last quarter. Bank of New York Mellon Corp grew its position in Illumina by 0.8% in the fourth 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 acquiring an additional 27,618 shares in the last quarter. Geode Capital Management LLC increased its stake in Illumina by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,727,827 shares of the life sciences company’s stock valued at $354,933,000 after acquiring an additional 48,018 shares during the last quarter. Finally, Primecap Management Co. CA raised its position in Illumina by 3.6% during the third quarter. Primecap Management Co. CA now owns 2,516,359 shares of the life sciences company’s stock valued at $328,158,000 after purchasing an additional 87,599 shares in the last quarter. Institutional investors 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.