Morgan Stanley Cuts Illumina (NASDAQ:ILMN) Price Target to $136.00

Illumina (NASDAQ:ILMN) had its price target lowered by Morgan Stanley from $150.00 to $136.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the life sciences company’s stock.

ILMN has been the topic of a number of other reports. Stephens raised their target price on shares of Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Guggenheim decreased their price target on shares of Illumina from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Piper Sandler raised their price target on shares of Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday. TD Cowen lowered shares of Illumina from a “buy” rating to a “hold” rating and decreased their price target for the stock from $177.00 to $140.00 in a research report on Friday, February 7th. Finally, UBS Group raised their price target on shares of Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $159.45.

Illumina Stock Performance

NASDAQ:ILMN opened at $101.78 on Tuesday. Illumina has a 1 year low of $99.35 and a 1 year high of $156.66. The firm’s fifty day simple moving average is $134.32 and its 200 day simple moving average is $135.12. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $16.14 billion, a PE ratio of -13.25 and a beta of 1.10.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 12.59%. On average, sell-side analysts anticipate that Illumina will post 4.42 EPS for the current year.

Hedge Funds Weigh In On Illumina

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co boosted its position in Illumina by 5.1% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 279,836 shares of the life sciences company’s stock valued at $37,382,000 after buying an additional 13,563 shares in the last quarter. Farringdon Capital Ltd. acquired a new position in Illumina in the fourth quarter valued at about $206,000. Zacks Investment Management boosted its position in Illumina by 3.5% in the fourth quarter. Zacks Investment Management now owns 23,210 shares of the life sciences company’s stock valued at $3,102,000 after buying an additional 786 shares in the last quarter. Jump Financial LLC boosted its position in Illumina by 260.0% in the fourth quarter. Jump Financial LLC now owns 7,865 shares of the life sciences company’s stock valued at $1,051,000 after buying an additional 5,680 shares in the last quarter. Finally, Senvest Management LLC boosted its position in Illumina by 19.5% in the fourth quarter. Senvest Management LLC now owns 1,070,292 shares of the life sciences company’s stock valued at $143,023,000 after buying an additional 174,532 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

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.