Scotiabank Trims Illumina (NASDAQ:ILMN) Target Price to $176.00

Illumina (NASDAQ:ILMN) had its price objective dropped by research analysts at Scotiabank from $185.00 to $176.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “sector outperform” rating on the life sciences company’s stock. Scotiabank’s price target points to a potential upside of 48.04% from the stock’s previous close.

ILMN has been the subject of a number of other reports. OTR Global reiterated a “mixed” rating on shares of Illumina in a report on Wednesday, March 20th. Barclays lifted their price target on Illumina from $85.00 to $100.00 and gave the company an “underweight” rating in a research note on Wednesday, April 10th. Stephens reissued an “overweight” rating and issued a $170.00 price objective on shares of Illumina in a research note on Wednesday, April 10th. Robert W. Baird lifted their target price on Illumina from $125.00 to $128.00 and gave the company a “neutral” rating in a research report on Friday. Finally, HSBC downgraded shares of Illumina from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $164.65.

Illumina Stock Up 0.8 %

ILMN stock traded up $0.96 during trading on Monday, reaching $118.89. 1,214,089 shares of the stock were exchanged, compared to its average volume of 1,705,915. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. Illumina has a twelve month low of $89.00 and a twelve month high of $213.91. The firm’s 50 day moving average is $130.03 and its 200 day moving average is $127.00. The firm has a market cap of $18.93 billion, a P/E ratio of -14.57 and a beta of 1.20.

Illumina (NASDAQ:ILMN) last issued its earnings results on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the firm earned $0.08 earnings per share. Illumina’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, research analysts forecast that Illumina will post 0.91 EPS for the current year.

Insider Buying and Selling at Illumina

In related news, CEO Jacob Thaysen purchased 7,330 shares of Illumina stock in a transaction dated 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 transaction, the chief executive officer now owns 14,861 shares in the company, valued at $2,010,544.69. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.17% of the company’s stock.

Institutional Trading of Illumina

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Trivant Custom Portfolio Group LLC grew its position in shares of Illumina by 166.7% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock valued at $27,000 after purchasing an additional 125 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Illumina in the third quarter worth approximately $30,000. VisionPoint Advisory Group LLC grew its position in Illumina by 344.6% during the third quarter. VisionPoint Advisory Group LLC now owns 249 shares of the life sciences company’s stock valued at $34,000 after acquiring an additional 193 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of Illumina in the 4th quarter worth approximately $37,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of Illumina by 86.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock valued at $39,000 after purchasing an additional 132 shares in the last quarter. Institutional investors 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.