Illumina, Inc. (NASDAQ:ILMN) Receives Consensus Recommendation of “Hold” from Brokerages

Illumina, Inc. (NASDAQ:ILMN) has been assigned an average recommendation of “Hold” from the nineteen brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $126.94.

Several brokerages have recently weighed in on ILMN. Morgan Stanley reduced their price target on Illumina from $136.00 to $100.00 and set an “equal weight” rating on the stock in a report on Monday, May 12th. Piper Sandler reduced their target price on Illumina from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday, May 15th. Canaccord Genuity Group increased their target price on Illumina from $87.00 to $99.00 and gave the stock a “hold” rating in a research note on Wednesday, June 11th. Stephens reiterated an “overweight” rating and issued a $105.00 target price on shares of Illumina in a research note on Tuesday, May 20th. Finally, Hsbc Global Res lowered shares of Illumina from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th.

Insider Buying and Selling at Illumina

In related news, CFO Ankur Dhingra purchased 6,100 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were acquired at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the acquisition, the chief financial officer now owns 24,906 shares of the company’s stock, valued at $2,022,616.26. The trade was a 32.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ILMN. Rise Advisors LLC grew its stake in Illumina by 173.6% in the first quarter. Rise Advisors LLC now owns 353 shares of the life sciences company’s stock valued at $28,000 after purchasing an additional 224 shares during the last quarter. Rakuten Securities Inc. grew its position in shares of Illumina by 290.3% in the 1st quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company’s stock worth $29,000 after buying an additional 270 shares during the last quarter. Center for Financial Planning Inc. purchased a new position in shares of Illumina in the 1st quarter worth approximately $33,000. Fourth Dimension Wealth LLC purchased a new position in shares of Illumina in the 4th quarter worth approximately $40,000. Finally, PFS Partners LLC grew its position in shares of Illumina by 400.0% in the 1st quarter. PFS Partners LLC now owns 500 shares of the life sciences company’s stock worth $40,000 after buying an additional 400 shares during the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Trading Up 0.1%

Shares of ILMN opened at $90.61 on Thursday. Illumina has a twelve month low of $68.70 and a twelve month high of $156.66. The company has a market cap of $14.34 billion, a P/E ratio of -14.93, a P/E/G ratio of 1.78 and a beta of 1.33. The company has a current ratio of 1.86, a quick ratio of 1.48 and a debt-to-equity ratio of 0.63. The company’s fifty day simple moving average is $81.03 and its 200-day simple moving average is $100.16.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, May 8th. The life sciences company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Illumina had a negative net margin of 22.25% and a positive return on equity of 25.54%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the company posted $0.98 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, analysts expect that Illumina 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.