Illumina (NASDAQ:ILMN) Hits New 1-Year Low – Here’s Why

Illumina, Inc. (NASDAQ:ILMN)’s stock price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $79.97 and last traded at $80.00, with a volume of 429084 shares changing hands. The stock had previously closed at $82.28.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ILMN. Guggenheim decreased their price objective on Illumina from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Piper Sandler lifted their price target on shares of Illumina from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Morgan Stanley dropped their price target on shares of Illumina from $150.00 to $136.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. Hsbc Global Res downgraded shares of Illumina from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Robert W. Baird dropped their target price on shares of Illumina from $127.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Illumina has a consensus rating of “Moderate Buy” and an average price target of $140.90.

Illumina Trading Down 2.8 %

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 50-day moving average of $103.93 and a 200 day moving average of $127.08. The company has a market cap of $12.67 billion, a PE ratio of -10.40, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17.

Illumina (NASDAQ:ILMN) last released its 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 negative net margin of 27.95% and a positive return on equity of 13.37%. Analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current year.

Institutional Trading of Illumina

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ILMN. Golden State Wealth Management LLC bought a new position in shares of Illumina during the fourth quarter valued at approximately $32,000. Versant Capital Management Inc grew 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 acquiring an additional 146 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new stake in Illumina in the fourth quarter worth $40,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Illumina during the fourth quarter worth $45,000. Finally, Assetmark Inc. boosted its stake in shares of Illumina by 954.8% during the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock valued at $44,000 after purchasing an additional 296 shares during the period. 89.42% of the stock is owned by hedge funds and other institutional investors.

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.