Illumina (NASDAQ:ILMN) Sets New 12-Month High – What’s Next?

Illumina, Inc. (NASDAQ:ILMN) hit a new 52-week high on Monday . The company traded as high as $148.59 and last traded at $148.52, with a volume of 238752 shares. The stock had previously closed at $145.54.

Wall Street Analysts Forecast Growth

ILMN has been the subject of a number of research analyst reports. Argus raised Illumina from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lowered their target price on Illumina from $130.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. StockNews.com assumed coverage on shares of Illumina in a research report on Thursday, August 29th. They set a “buy” rating for the company. Piper Sandler lowered their price objective on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Finally, Daiwa America upgraded shares of Illumina to a “strong-buy” rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $150.58.

Illumina Price Performance

The business’s 50-day moving average price is $131.49 and its 200 day moving average price is $120.79. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $23.51 billion, a P/E ratio of -18.11 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results 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. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 EPS. Analysts anticipate that Illumina, Inc. will post 3.63 EPS for the current fiscal year.

Institutional Trading of Illumina

Institutional investors and hedge funds have recently modified their holdings of the business. Bouvel Investment Partners LLC increased its position in shares of Illumina by 1.3% in the first quarter. Bouvel Investment Partners LLC now owns 6,547 shares of the life sciences company’s stock worth $899,000 after purchasing an additional 84 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Illumina by 7.0% during the 2nd quarter. UMB Bank n.a. now owns 1,341 shares of the life sciences company’s stock worth $140,000 after acquiring an additional 88 shares during the last quarter. Gulf International Bank UK Ltd grew its position in Illumina by 0.7% in the first quarter. Gulf International Bank UK Ltd now owns 13,562 shares of the life sciences company’s stock worth $1,862,000 after acquiring an additional 98 shares in the last quarter. GAMMA Investing LLC raised its position in Illumina by 4.9% during the first quarter. GAMMA Investing LLC now owns 2,258 shares of the life sciences company’s stock valued at $310,000 after purchasing an additional 105 shares in the last quarter. Finally, Texas Permanent School Fund Corp lifted its stake in Illumina by 0.3% during the first quarter. Texas Permanent School Fund Corp now owns 32,818 shares of the life sciences company’s stock worth $4,507,000 after purchasing an additional 114 shares during the last quarter. Hedge funds and other institutional investors 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.