Illumina (NASDAQ:ILMN) Given New $300.00 Price Target at Canaccord Genuity Group

Illumina (NASDAQ:ILMN) had its price objective increased by research analysts at Canaccord Genuity Group from $205.00 to $300.00 in a research note issued to investors 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 upside of 14.27% from the company’s previous close.

A number of other brokerages have also recently issued reports on ILMN. Argus raised their price objective on shares of Illumina from $180.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Sanford C. Bernstein reissued a “market perform” rating and issued a $215.00 price target on shares of Illumina in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft lowered Illumina to a “hold” rating in a research report on Wednesday, August 5th. Citigroup boosted their target price on Illumina from $95.00 to $113.00 and gave the stock a “sell” rating in a research report on Monday, August 3rd. Finally, Stifel Nicolaus raised their price objective on Illumina from $155.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $231.88.

Illumina Stock Performance

Shares of ILMN stock opened at $262.54 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.80. The firm has a fifty day moving average of $234.53 and a 200-day moving average of $186.47. Illumina has a 52-week low of $94.00 and a 52-week high of $309.35. The stock has a market cap of $39.64 billion, a price-to-earnings ratio of 48.98, a P/E/G ratio of 3.72 and a beta of 1.41.

Illumina (NASDAQ:ILMN) last issued its earnings results on Thursday, July 30th. The life sciences company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.08. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Illumina had a return on equity of 29.84% and a net margin of 18.36%. Illumina’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.19 EPS. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. On average, equities research analysts forecast that Illumina will post 5.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Keith Meister sold 457,858 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $200.10, for a total transaction of $91,617,385.80. Following the completion of the sale, the director owned 2,372,694 shares of the company’s stock, valued at approximately $474,776,069.40. This represents a 16.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 2,061,850 shares of company stock valued at $436,479,102 over the last three months. 2.90% of the stock is owned by insiders.

Institutional Trading of Illumina

A number of hedge funds and other institutional investors have recently modified their holdings of ILMN. BlackRock Inc. acquired a new stake in shares of Illumina during the 2nd quarter valued at $3,374,423,000. WCM Investment Management LLC increased its holdings in Illumina by 45.5% in the 1st quarter. WCM Investment Management LLC now owns 5,923,173 shares of the life sciences company’s stock worth $715,579,000 after purchasing an additional 1,851,848 shares in the last quarter. Primecap Management Co. CA acquired a new position in Illumina in the 2nd quarter worth about $617,981,000. Ninety One UK Ltd raised its position in Illumina by 37,920.0% in the third quarter. Ninety One UK Ltd now owns 1,359,974 shares of the life sciences company’s stock valued at $372,198,000 after purchasing an additional 1,356,397 shares during the last quarter. Finally, Jupiter Topco LLC bought a new position in Illumina in the second quarter valued at about $358,652,000. Institutional investors own 89.42% of the company’s stock.

Illumina Company Profile

Illumina, Inc is a biotechnology company that develops and manufactures genomics and genetic-analysis technologies. Its products are used to study DNA and RNA in applications including biomedical research, clinical testing, pharmaceutical development, reproductive health, oncology and population genomics.

The company’s offerings include next-generation sequencing systems, consumable flow cells and reagent kits, microarrays, and genomic data-analysis software. Its sequencing portfolio includes instruments such as the NovaSeq, NextSeq, MiSeq and iSeq platforms, while its informatics products include the DRAGEN platform, which supports the processing and interpretation of sequencing data.