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

Illumina (NASDAQ:ILMN) had its price target trimmed by Scotiabank from $185.00 to $176.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a sector outperform rating on the life sciences company’s stock.

ILMN has been the topic of a number of other research reports. Stephens restated an overweight rating and issued a $170.00 target price on shares of Illumina in a research report on Wednesday, April 10th. Royal Bank of Canada reaffirmed an outperform rating and issued a $253.00 target price on shares of Illumina in a research report on Tuesday, April 9th. Barclays lifted their price target on shares of Illumina from $85.00 to $100.00 and gave the company an underweight rating in a research report on Wednesday, April 10th. Robert W. Baird upped their price objective on shares of Illumina from $125.00 to $128.00 and gave the stock a neutral rating in a report on Friday, May 3rd. Finally, OTR Global reissued a mixed rating on shares of Illumina in a research report on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Illumina currently has a consensus rating of Hold and an average price target of $164.65.

Illumina Trading Up 0.7 %

Shares of ILMN stock opened at $111.35 on Monday. 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 company’s 50-day moving average price is $128.53 and its 200-day moving average price is $126.83. The stock has a market cap of $17.74 billion, a price-to-earnings ratio of -13.66 and a beta of 1.20.

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

Insider Buying and Selling

In other news, CEO Jacob Thaysen acquired 7,330 shares of Illumina stock in a transaction dated Thursday, February 22nd. The shares were acquired at an average cost of $135.29 per share, for a total transaction of $991,675.70. Following the acquisition, the chief executive officer now owns 14,861 shares of the company’s stock, valued at $2,010,544.69. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.17% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ILMN. Dorsey & Whitney Trust CO LLC boosted its holdings in Illumina by 8.7% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 2,599 shares of the life sciences company’s stock valued at $357,000 after purchasing an additional 208 shares in the last quarter. Leo Wealth LLC purchased a new stake in shares of Illumina during the 1st quarter worth approximately $207,000. Orion Portfolio Solutions LLC boosted its holdings in shares of Illumina by 10.4% in the 1st quarter. Orion Portfolio Solutions LLC now owns 7,918 shares of the life sciences company’s stock valued at $1,087,000 after buying an additional 746 shares in the last quarter. Wilkins Investment Counsel Inc. grew its position in shares of Illumina by 84.0% in the 1st quarter. Wilkins Investment Counsel Inc. now owns 66,280 shares of the life sciences company’s stock valued at $9,102,000 after buying an additional 30,260 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Illumina by 19.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 196,524 shares of the life sciences company’s stock worth $26,987,000 after acquiring an additional 31,331 shares in the last quarter. Hedge funds and other 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.