Illumina (NASDAQ:ILMN) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Illumina (NASDAQ:ILMN) in a research note issued to investors on Thursday, Benzinga reports. They currently have a $252.00 price target on the life sciences company’s stock.

Several other brokerages also recently issued reports on ILMN. Stephens reiterated an overweight rating and set a $170.00 price target on shares of Illumina in a research report on Wednesday, July 10th. Robert W. Baird upped their price target on shares of Illumina from $119.00 to $124.00 and gave the stock a neutral rating in a research report on Wednesday, August 7th. StockNews.com initiated coverage on shares of Illumina in a research report on Thursday, August 29th. They set a buy rating on the stock. Daiwa America upgraded shares of Illumina to a strong-buy rating in a research report on Friday, August 16th. Finally, Argus upgraded shares of Illumina from a hold rating to a buy rating and set a $150.00 price target on the stock in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Illumina currently has a consensus rating of Moderate Buy and a consensus target price of $152.55.

Illumina Price Performance

Shares of NASDAQ:ILMN traded down $1.35 on Thursday, hitting $142.41. The stock had a trading volume of 91,711 shares, compared to its average volume of 2,023,173. Illumina has a twelve month low of $89.00 and a twelve month high of $148.19. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11. The firm’s 50 day moving average price is $129.64 and its 200-day moving average price is $120.77. The company has a market capitalization of $22.69 billion, a price-to-earnings ratio of -7.51 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last issued its earnings results 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 negative net margin of 68.73% and a positive return on equity of 3.08%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the company earned $0.32 EPS. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, equities research analysts predict that Illumina will post 3.63 earnings per share for the current year.

Institutional Trading of Illumina

A number of large investors have recently bought and sold shares of ILMN. Patient Capital Management LLC bought a new stake in Illumina during the 4th quarter worth approximately $33,512,000. V Square Quantitative Management LLC increased its stake in Illumina by 55.6% during the 4th quarter. V Square Quantitative Management LLC now owns 3,466 shares of the life sciences company’s stock worth $483,000 after purchasing an additional 1,239 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in Illumina during the 4th quarter worth approximately $264,000. Syon Capital LLC bought a new stake in Illumina during the 4th quarter worth approximately $548,000. Finally, Wahed Invest LLC increased its stake in Illumina by 6.0% during the 4th quarter. Wahed Invest LLC now owns 2,695 shares of the life sciences company’s stock worth $375,000 after purchasing an additional 153 shares in the last quarter. 89.42% of the stock is 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.