Canaccord Genuity Group Lowers Illumina (NASDAQ:ILMN) Price Target to $115.00

Illumina (NASDAQ:ILMN) had its price objective cut by analysts at Canaccord Genuity Group from $135.00 to $115.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the life sciences company’s stock. Canaccord Genuity Group’s price target points to a potential upside of 33.77% from the stock’s current price.

A number of other brokerages have also weighed in on ILMN. Morgan Stanley decreased their price objective on shares of Illumina from $150.00 to $136.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. HSBC cut Illumina from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research note on Friday, February 28th. Hsbc Global Res cut Illumina from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Citigroup decreased their target price on Illumina from $130.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, Barclays downgraded shares of Illumina from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $130.00 to $100.00 in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $148.25.

Illumina Price Performance

ILMN stock opened at $85.97 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. The firm has a 50 day moving average price of $117.43 and a 200-day moving average price of $131.17. Illumina has a 52-week low of $80.18 and a 52-week high of $156.66. The firm has a market capitalization of $13.62 billion, a price-to-earnings ratio of -11.19, a PEG ratio of 1.60 and a beta of 1.17.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data 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 13.37%. Equities research analysts forecast that Illumina will post 4.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Empowered Funds LLC increased its holdings in Illumina by 1.7% in the 3rd quarter. Empowered Funds LLC now owns 3,960 shares of the life sciences company’s stock worth $516,000 after acquiring an additional 66 shares in the last quarter. Bank of Stockton boosted its position in shares of Illumina by 3.8% in the fourth quarter. Bank of Stockton now owns 2,162 shares of the life sciences company’s stock worth $289,000 after purchasing an additional 80 shares during the period. Caprock Group LLC increased its stake in shares of Illumina by 3.0% in the third quarter. Caprock Group LLC now owns 2,884 shares of the life sciences company’s stock worth $376,000 after purchasing an additional 83 shares in the last quarter. Stephens Inc. AR raised its position in shares of Illumina by 1.4% during the 4th quarter. Stephens Inc. AR now owns 6,623 shares of the life sciences company’s stock valued at $885,000 after purchasing an additional 90 shares during the period. Finally, Moors & Cabot Inc. lifted its stake in shares of Illumina by 1.7% during the 3rd quarter. Moors & Cabot Inc. now owns 5,818 shares of the life sciences company’s stock valued at $759,000 after buying an additional 95 shares in the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

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.