Piper Sandler Trims Illumina (NASDAQ:ILMN) Target Price to $195.00

Illumina (NASDAQ:ILMN) had its price target trimmed by Piper Sandler from $200.00 to $195.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an overweight rating on the life sciences company’s stock.

A number of other equities research analysts also recently weighed in on the company. Scotiabank cut their price target on Illumina from $185.00 to $176.00 and set a sector outperform rating for the company in a research note on Monday, May 6th. Stephens reaffirmed an overweight rating and set a $170.00 price objective on shares of Illumina in a research report on Wednesday, July 10th. JPMorgan Chase & Co. decreased their target price on shares of Illumina from $130.00 to $125.00 and set a neutral rating for the company in a research report on Wednesday, August 7th. StockNews.com assumed coverage on shares of Illumina in a research note on Tuesday. They set a buy rating on the stock. Finally, TD Cowen lifted their price objective on shares of Illumina from $122.00 to $126.00 and gave the company a hold rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $151.10.

Illumina Stock Performance

Shares of ILMN opened at $130.31 on Tuesday. The company has a market capitalization of $20.76 billion, a PE ratio of -15.99 and a beta of 1.15. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 1.75. The company’s 50 day moving average price is $114.68 and its 200 day moving average price is $122.55. Illumina has a 52 week low of $89.00 and a 52 week high of $172.69.

Illumina (NASDAQ:ILMN) last issued its earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the business posted $0.32 EPS. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. Research analysts expect that Illumina will post 1.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Illumina

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC grew its position in Illumina by 135.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 5,852 shares of the life sciences company’s stock worth $815,000 after purchasing an additional 3,362 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in Illumina during the fourth quarter worth about $3,091,000. SVB Wealth LLC increased its stake in Illumina by 16.2% during the fourth quarter. SVB Wealth LLC now owns 3,068 shares of the life sciences company’s stock valued at $427,000 after acquiring an additional 428 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Illumina by 30.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 81,267 shares of the life sciences company’s stock valued at $11,316,000 after acquiring an additional 19,202 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its position in shares of Illumina by 12.6% in the 4th quarter. Avior Wealth Management LLC now owns 3,745 shares of the life sciences company’s stock worth $521,000 after acquiring an additional 418 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

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.