Illumina (NASDAQ:ILMN) Trading 5.7% Higher – What’s Next?

Illumina, Inc. (NASDAQ:ILMN)’s share price traded up 5.7% during trading on Monday . The company traded as high as $144.47 and last traded at $144.42. 1,191,095 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 1,394,217 shares. The stock had previously closed at $136.69.

Analysts Set New Price Targets

Several research firms have recently weighed in on ILMN. Hsbc Global Res raised Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 target price on the stock in a research report on Thursday, October 17th. UBS Group increased their target price on shares of Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on shares of Illumina from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. HSBC upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Thursday, October 17th. Finally, TD Cowen raised their price objective on shares of Illumina from $166.00 to $177.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $165.63.

Illumina Stock Performance

The firm’s fifty day moving average price is $140.55 and its 200 day moving average price is $133.10. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. The firm has a market cap of $21.60 billion, a P/E ratio of -13.67 and a beta of 1.11.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the business posted $0.33 EPS. The business’s revenue was down 3.5% compared to the same quarter last year. Sell-side analysts expect that Illumina, Inc. will post 4.11 EPS for the current fiscal year.

Institutional Trading of Illumina

A number of institutional investors have recently modified their holdings of the company. Zacks Investment Management purchased a new stake in Illumina during the third quarter valued at approximately $2,924,000. Freemont Management S.A. acquired a new position in shares of Illumina during the third quarter worth $1,565,000. Weybosset Research & Management LLC lifted its holdings in shares of Illumina by 92.0% during the 3rd quarter. Weybosset Research & Management LLC now owns 18,052 shares of the life sciences company’s stock valued at $2,354,000 after purchasing an additional 8,650 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of Illumina by 176.3% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 7,176 shares of the life sciences company’s stock worth $749,000 after purchasing an additional 4,579 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in Illumina by 65.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 32,806 shares of the life sciences company’s stock worth $4,278,000 after buying an additional 12,986 shares during the last quarter. 89.42% of the stock is currently owned by 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.