Morgan Stanley Cuts Illumina (NASDAQ:ILMN) Price Target to $150.00

Illumina (NASDAQ:ILMN) had its price target cut by Morgan Stanley from $156.00 to $150.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an equal weight rating on the life sciences company’s stock.

Several other research firms have also issued reports on ILMN. HSBC raised shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a report on Thursday, October 17th. Citigroup cut shares of Illumina from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $190.00 to $165.00 in a research note on Wednesday, December 11th. Hsbc Global Res upgraded shares of Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 target price on the stock in a research note on Thursday, October 17th. UBS Group increased their price target on Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, Canaccord Genuity Group boosted their price objective on Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Eight research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $165.63.

Illumina Trading Down 0.2 %

Shares of Illumina stock opened at $136.19 on Monday. Illumina has a 1-year low of $100.08 and a 1-year high of $156.66. The company’s fifty day simple moving average is $140.55 and its 200-day simple moving average is $133.10. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. The stock has a market capitalization of $21.60 billion, a PE ratio of -13.67 and a beta of 1.11.

Illumina (NASDAQ:ILMN) last released its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.26. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. Illumina’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 earnings per share. As a group, equities analysts anticipate that Illumina will post 4.11 earnings per share for the current year.

Hedge Funds Weigh In On Illumina

A number of institutional investors and hedge funds have recently made changes to their positions in ILMN. Zacks Investment Management bought a new position in shares of Illumina in the 3rd quarter valued at about $2,924,000. Freemont Management S.A. bought a new stake in shares of Illumina in the 3rd quarter valued at approximately $1,565,000. Weybosset Research & Management LLC boosted its holdings in shares of Illumina by 92.0% in the 3rd quarter. Weybosset Research & Management LLC now owns 18,052 shares of the life sciences company’s stock worth $2,354,000 after purchasing an additional 8,650 shares during the period. B. Riley Wealth Advisors Inc. increased its position in shares of Illumina by 176.3% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 7,176 shares of the life sciences company’s stock valued at $749,000 after purchasing an additional 4,579 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings 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 valued at $4,278,000 after buying an additional 12,986 shares during the period. 89.42% of the stock is owned by hedge funds and other 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.