Illumina (NASDAQ:ILMN) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Illumina (NASDAQ:ILMN) had its price objective hoisted by research analysts at Canaccord Genuity Group from $112.00 to $130.00 in a report issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the life sciences company’s stock. Canaccord Genuity Group’s target price would suggest a potential downside of 3.55% from the stock’s current price.

Several other analysts have also recently issued reports on the stock. Zacks Research raised shares of Illumina from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. Weiss Ratings restated a “hold (c-)” rating on shares of Illumina in a report on Tuesday, December 16th. JPMorgan Chase & Co. upped their price target on Illumina from $105.00 to $130.00 and gave the company a “neutral” rating in a research report on Monday, December 15th. Cowen reiterated a “hold” rating on shares of Illumina in a research report on Friday, October 31st. Finally, Evercore ISI boosted their price objective on Illumina from $132.00 to $142.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Illumina presently has an average rating of “Hold” and an average target price of $118.31.

Illumina Stock Up 3.3%

Shares of ILMN opened at $134.78 on Monday. The stock has a 50 day moving average price of $118.22 and a 200 day moving average price of $104.64. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.12 and a current ratio of 1.43. The stock has a market capitalization of $20.59 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 2.41 and a beta of 1.44. Illumina has a one year low of $68.70 and a one year high of $153.06.

Illumina (NASDAQ:ILMN) last announced its earnings results on Thursday, October 30th. The life sciences company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.18. Illumina had a net margin of 16.40% and a return on equity of 29.21%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the company posted $1.14 EPS. The firm’s quarterly revenue was up .4% on a year-over-year basis. Illumina has set its FY 2025 guidance at 4.650-4.750 EPS. Equities research analysts forecast that Illumina will post 4.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Illumina news, Director Scott Gottlieb acquired 500 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were purchased at an average cost of $122.13 per share, for a total transaction of $61,065.00. Following the completion of the acquisition, the director owned 12,523 shares of the company’s stock, valued at approximately $1,529,433.99. The trade was a 4.16% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Scott M. Davies sold 323 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $136.09, for a total value of $43,957.07. Following the completion of the transaction, the insider owned 17,887 shares of the company’s stock, valued at $2,434,241.83. The trade was a 1.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Illumina

Several institutional investors have recently added to or reduced their stakes in ILMN. Cresset Asset Management LLC lifted its stake in Illumina by 19.4% during the 1st quarter. Cresset Asset Management LLC now owns 5,656 shares of the life sciences company’s stock worth $449,000 after acquiring an additional 919 shares in the last quarter. Wellington Management Group LLP increased its stake in Illumina by 47.1% during the first quarter. Wellington Management Group LLP now owns 37,213 shares of the life sciences company’s stock worth $2,952,000 after purchasing an additional 11,915 shares during the period. AlphaQuest LLC acquired a new stake in shares of Illumina during the first quarter worth about $692,000. Jump Financial LLC boosted its stake in shares of Illumina by 919.0% in the first quarter. Jump Financial LLC now owns 80,147 shares of the life sciences company’s stock valued at $6,359,000 after purchasing an additional 72,282 shares during the period. Finally, Ieq Capital LLC grew its holdings in shares of Illumina by 141.3% in the first quarter. Ieq Capital LLC now owns 68,798 shares of the life sciences company’s stock valued at $5,458,000 after purchasing an additional 40,291 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

About Illumina

Illumina, Inc (NASDAQ: ILMN) is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company’s product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.