Illumina (NASDAQ:ILMN) Stock Rating Lowered by HSBC

Illumina (NASDAQ:ILMN) was downgraded by equities researchers at HSBC from a “buy” rating to a “hold” rating in a report released on Friday,Briefing.com Automated Import reports. They presently have a $100.00 price target on the life sciences company’s stock. HSBC’s price objective would indicate a potential upside of 12.40% from the stock’s previous close.

Several other brokerages have also recently weighed in on ILMN. UBS Group upped their price target on Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group dropped their target price on Illumina from $145.00 to $135.00 and set a “hold” rating for the company in a research report on Friday, February 7th. TD Cowen lowered shares of Illumina from a “buy” rating to a “hold” rating and cut their price target for the company from $177.00 to $140.00 in a research report on Friday, February 7th. Piper Sandler raised their target price on shares of Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Stephens raised their target price on Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $155.45.

Illumina Trading Down 5.4 %

NASDAQ ILMN opened at $88.97 on Friday. The company has a market cap of $14.09 billion, a price-to-earnings ratio of -11.58, a P/E/G ratio of 1.60 and a beta of 1.10. The business has a 50 day moving average price of $124.32 and a 200-day moving average price of $133.21. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. Illumina has a 52 week low of $88.75 and a 52 week high of $156.66.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. As a group, equities analysts expect that Illumina will post 4.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Illumina

Several institutional investors and hedge funds have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Illumina in the 4th quarter worth approximately $29,913,000. Mackenzie Financial Corp grew its position in Illumina by 9.5% during the fourth quarter. Mackenzie Financial Corp now owns 21,194 shares of the life sciences company’s stock valued at $2,832,000 after buying an additional 1,839 shares during the period. North Star Asset Management Inc. raised its position in Illumina by 6.4% in the fourth quarter. North Star Asset Management Inc. now owns 85,604 shares of the life sciences company’s stock worth $11,439,000 after acquiring an additional 5,160 shares during the period. GF Fund Management CO. LTD. bought a new position in Illumina in the fourth quarter worth approximately $445,000. Finally, Sunbelt Securities Inc. boosted its stake in shares of Illumina by 144.4% during the 4th quarter. Sunbelt Securities Inc. now owns 716 shares of the life sciences company’s stock worth $96,000 after acquiring an additional 423 shares during the last quarter. 89.42% of the stock is currently 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.