Morgan Stanley Has Lowered Expectations for Illumina (NASDAQ:ILMN) Stock Price

Illumina (NASDAQ:ILMN) had its target price dropped by Morgan Stanley from $136.00 to $100.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the life sciences company’s stock. Morgan Stanley’s price objective points to a potential upside of 25.00% from the stock’s previous close.

ILMN has been the topic of several other research reports. Citigroup lowered their price target on shares of Illumina from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Barclays cut their target price on Illumina from $100.00 to $77.00 and set an “underweight” rating on the stock in a research report on Thursday, April 10th. HSBC downgraded shares of Illumina from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research note on Friday, February 28th. Stephens reaffirmed an “overweight” rating and set a $156.00 price target on shares of Illumina in a report on Tuesday, March 11th. Finally, Hsbc Global Res downgraded Illumina from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $130.95.

Illumina Stock Performance

Illumina stock traded up $4.24 during mid-day trading on Monday, hitting $80.00. The company had a trading volume of 1,179,886 shares, compared to its average volume of 2,283,182. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $12.66 billion, a price-to-earnings ratio of -10.39, a P/E/G ratio of 1.60 and a beta of 1.35. Illumina has a 12-month low of $68.70 and a 12-month high of $156.66. The company’s fifty day moving average is $78.94 and its 200-day moving average is $113.12.

Illumina (NASDAQ:ILMN) last announced its earnings results on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. Equities research analysts predict that Illumina will post 4.51 EPS for the current year.

Hedge Funds Weigh In On Illumina

Several large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Illumina by 2.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,170 shares of the life sciences company’s stock valued at $2,369,000 after acquiring an additional 394 shares during the last quarter. Green Alpha Advisors LLC raised its holdings in shares of Illumina by 82.9% during the fourth quarter. Green Alpha Advisors LLC now owns 4,693 shares of the life sciences company’s stock worth $627,000 after purchasing an additional 2,127 shares during the period. CCLA Investment Management boosted its holdings in shares of Illumina by 20.5% in the 4th quarter. CCLA Investment Management now owns 535,050 shares of the life sciences company’s stock valued at $71,493,000 after buying an additional 91,122 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Illumina by 5.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 42,748 shares of the life sciences company’s stock worth $5,712,000 after acquiring an additional 2,338 shares during the period. Finally, Park Avenue Securities LLC lifted its position in Illumina by 7.6% in the 4th quarter. Park Avenue Securities LLC now owns 9,005 shares of the life sciences company’s stock valued at $1,203,000 after purchasing an additional 633 shares during the last quarter. 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.