Illumina’s (ILMN) “Outperform” Rating Reiterated at Royal Bank of Canada

Illumina (NASDAQ:ILMN)‘s stock had its “outperform” rating reaffirmed by research analysts at Royal Bank of Canada in a research note issued on Wednesday, Benzinga reports. They currently have a $242.00 price objective on the life sciences company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 96.91% from the stock’s current price.

ILMN has been the topic of several other reports. Robert W. Baird increased their price objective on Illumina from $119.00 to $124.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. TD Cowen raised Illumina from a “hold” rating to a “buy” rating and raised their target price for the stock from $126.00 to $144.00 in a research report on Wednesday. Jefferies Financial Group started coverage on Illumina in a research report on Monday, June 3rd. They issued a “hold” rating and a $115.00 target price on the stock. Piper Sandler dropped their target price on Illumina from $200.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Evercore ISI lowered their price objective on Illumina from $195.00 to $175.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Illumina presently has an average rating of “Hold” and a consensus price target of $151.55.

Illumina Stock Up 2.7 %

Shares of NASDAQ:ILMN traded up $3.18 on Wednesday, hitting $122.90. 855,801 shares of the company traded hands, compared to its average volume of 2,119,614. Illumina has a 52 week low of $89.00 and a 52 week high of $178.44. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. The stock has a 50 day simple moving average of $113.76 and a 200-day simple moving average of $122.63. The company has a market cap of $19.58 billion, a PE ratio of -15.08 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.12 by $0.24. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the firm posted $0.32 earnings per share. Illumina’s revenue was down 5.4% compared to the same quarter last year. As a group, research analysts expect that Illumina will post 1.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ILMN. SVB Wealth LLC raised its position in shares of Illumina by 16.2% in the 4th quarter. SVB Wealth LLC now owns 3,068 shares of the life sciences company’s stock worth $427,000 after acquiring an additional 428 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Illumina by 30.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 81,267 shares of the life sciences company’s stock valued at $11,316,000 after buying an additional 19,202 shares in the last quarter. Avior Wealth Management LLC increased its position in Illumina by 12.6% during the 4th quarter. Avior Wealth Management LLC now owns 3,745 shares of the life sciences company’s stock valued at $521,000 after buying an additional 418 shares in the last quarter. Slow Capital Inc. increased its position in Illumina by 2.5% during the 4th quarter. Slow Capital Inc. now owns 36,027 shares of the life sciences company’s stock valued at $5,016,000 after buying an additional 872 shares in the last quarter. Finally, Rakuten Securities Inc. acquired a new position in Illumina during the 4th quarter valued at about $113,000. 89.42% of the stock is owned by institutional investors.

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.