Illumina (NASDAQ:ILMN) Lifted to Equal Weight at Barclays

Barclays upgraded shares of Illumina (NASDAQ:ILMN) from an underweight rating to an equal weight rating in a research note issued to investors on Wednesday, MarketBeat.com reports. Barclays currently has $125.00 target price on the life sciences company’s stock.

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group assumed coverage on shares of Illumina in a report on Monday, June 3rd. They set a hold rating and a $115.00 price target for the company. Scotiabank lowered their price target on shares of Illumina from $185.00 to $176.00 and set a sector outperform rating for the company in a report on Monday, May 6th. UBS Group lifted their price target on shares of Illumina from $131.00 to $133.00 and gave the stock a neutral rating in a report on Wednesday, August 7th. StockNews.com assumed coverage on shares of Illumina in a report on Tuesday, August 13th. They set a buy rating for the company. Finally, Piper Sandler lowered their price target on shares of Illumina from $200.00 to $195.00 and set an overweight rating for the company in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $151.10.

Illumina Stock Performance

NASDAQ:ILMN opened at $130.31 on Wednesday. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $114.68 and a two-hundred day moving average price of $122.38. Illumina has a twelve month low of $89.00 and a twelve month high of $172.69. The company has a market capitalization of $20.76 billion, a P/E ratio of -15.99 and a beta of 1.15.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Creative Planning lifted its position in Illumina by 3.4% during the second quarter. Creative Planning now owns 16,144 shares of the life sciences company’s stock valued at $1,685,000 after buying an additional 525 shares in the last quarter. Clearline Capital LP acquired a new position in Illumina during the second quarter valued at approximately $1,178,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Illumina during the second quarter worth $11,962,000. Scientech Research LLC acquired a new position in shares of Illumina during the second quarter worth $903,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Illumina by 31.8% during the second quarter. The Manufacturers Life Insurance Company now owns 125,285 shares of the life sciences company’s stock worth $13,077,000 after purchasing an additional 30,229 shares in the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.

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.