Robert W. Baird Raises Illumina (NASDAQ:ILMN) Price Target to $128.00

Illumina (NASDAQ:ILMN) had its price target lifted by Robert W. Baird from $125.00 to $128.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the life sciences company’s stock.

Several other equities research analysts have also issued reports on ILMN. TD Cowen lowered Illumina from an outperform rating to a market perform rating and set a $144.00 price target on the stock. in a research report on Thursday, January 4th. Royal Bank of Canada reiterated an outperform rating and set a $253.00 price objective on shares of Illumina in a research note on Tuesday, April 9th. Barclays lifted their target price on Illumina from $85.00 to $100.00 and gave the company an underweight rating in a research note on Wednesday, April 10th. StockNews.com upgraded Illumina from a hold rating to a buy rating in a research note on Friday, February 16th. Finally, Stephens restated an overweight rating and set a $170.00 price target on shares of Illumina in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $164.65.

Illumina Stock Up 0.9 %

Illumina stock traded up $1.05 during midday trading on Friday, hitting $118.98. 1,783,342 shares of the stock were exchanged, compared to its average volume of 1,713,122. Illumina has a 1 year low of $89.00 and a 1 year high of $213.91. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.36. The firm has a market cap of $18.95 billion, a P/E ratio of -14.57 and a beta of 1.20. The company has a 50 day moving average price of $130.03 and a two-hundred day moving average price of $127.00.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Thursday, May 2nd. The life sciences company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. Illumina’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.08 earnings per share. On average, sell-side analysts predict that Illumina will post 0.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jacob Thaysen bought 7,330 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was bought at an average cost of $135.29 per share, for a total transaction of $991,675.70. Following the completion of the acquisition, the chief executive officer now directly owns 14,861 shares in the company, valued at approximately $2,010,544.69. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Illumina

A number of institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Illumina by 43.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 7,398 shares of the life sciences company’s stock valued at $1,016,000 after buying an additional 2,258 shares during the period. Raymond James & Associates raised its position in Illumina by 13.9% during the third quarter. Raymond James & Associates now owns 381,233 shares of the life sciences company’s stock valued at $52,336,000 after acquiring an additional 46,444 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in Illumina by 8.4% in the third quarter. Stratos Wealth Partners LTD. now owns 5,275 shares of the life sciences company’s stock valued at $724,000 after acquiring an additional 410 shares during the last quarter. Independent Advisor Alliance grew its position in Illumina by 8.6% in the third quarter. Independent Advisor Alliance now owns 1,595 shares of the life sciences company’s stock worth $219,000 after acquiring an additional 126 shares in the last quarter. Finally, Brown Advisory Inc. grew its position in Illumina by 4.4% in the third quarter. Brown Advisory Inc. now owns 4,140 shares of the life sciences company’s stock worth $568,000 after acquiring an additional 176 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

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.