Illumina (NASDAQ:ILMN) Upgraded at Hsbc Global Res

Hsbc Global Res upgraded shares of Illumina (NASDAQ:ILMN) from a hold rating to a strong-buy rating in a research report released on Thursday morning, Zacks.com reports.

A number of other research analysts have also commented on the company. TD Cowen raised Illumina from a “hold” rating to a “buy” rating and upped their price objective for the company from $126.00 to $144.00 in a report on Wednesday, August 14th. Barclays increased their target price on Illumina from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Tuesday. Piper Sandler reduced their target price on Illumina from $200.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Leerink Partners increased their target price on Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Scotiabank reduced their target price on Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Illumina has an average rating of “Moderate Buy” and a consensus target price of $154.33.

Illumina Stock Performance

Shares of NASDAQ ILMN opened at $143.52 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86. The stock’s fifty day moving average price is $132.28 and its two-hundred day moving average price is $121.11. Illumina has a one year low of $89.00 and a one year high of $151.40. The firm has a market cap of $22.86 billion, a price-to-earnings ratio of -17.61 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.24. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the firm posted $0.32 EPS. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, equities analysts forecast that Illumina will post 3.63 EPS for the current year.

Institutional Investors Weigh In On Illumina

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Illumina by 0.4% during the first quarter. Vanguard Group Inc. now owns 18,245,041 shares of the life sciences company’s stock worth $2,505,409,000 after purchasing an additional 66,528 shares during the period. Baillie Gifford & Co. grew its stake in Illumina by 8.7% during the first quarter. Baillie Gifford & Co. now owns 5,736,418 shares of the life sciences company’s stock worth $787,725,000 after purchasing an additional 460,649 shares during the period. Bank of New York Mellon Corp grew its stake in Illumina by 7.2% during the second quarter. Bank of New York Mellon Corp now owns 3,039,538 shares of the life sciences company’s stock worth $317,267,000 after purchasing an additional 204,043 shares during the period. Capital World Investors grew its stake in Illumina by 41.1% during the first quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company’s stock worth $378,111,000 after purchasing an additional 801,814 shares during the period. Finally, Primecap Management Co. CA grew its stake in Illumina by 462.5% during the second quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock worth $253,514,000 after purchasing an additional 1,997,010 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

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.