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

Illumina (NASDAQ:ILMN) had its price objective increased by analysts at Canaccord Genuity Group from $140.00 to $190.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the life sciences company’s stock. Canaccord Genuity Group’s target price points to a potential downside of 0.03% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Citigroup upped their price target on shares of Illumina from $80.00 to $95.00 and gave the stock a “sell” rating in a research report on Monday, May 4th. Daiwa Securities Group raised shares of Illumina from a “neutral” rating to an “outperform” rating and set a $155.00 price objective on the stock in a report on Thursday, May 14th. Weiss Ratings upgraded Illumina from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 3rd. Royal Bank Of Canada started coverage on Illumina in a research report on Thursday, May 14th. They set an “outperform” rating and a $170.00 target price on the stock. Finally, JPMorgan Chase & Co. raised Illumina from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $125.00 to $185.00 in a research report on Wednesday, June 10th. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $153.56.

Illumina Stock Performance

Shares of Illumina stock opened at $190.05 on Tuesday. The firm has a market cap of $28.75 billion, a P/E ratio of 34.55, a P/E/G ratio of 3.56 and a beta of 1.47. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.56. Illumina has a 12 month low of $88.00 and a 12 month high of $196.66. The stock’s fifty day moving average price is $162.58 and its 200-day moving average price is $141.90.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Thursday, April 30th. The life sciences company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.10. Illumina had a net margin of 19.42% and a return on equity of 31.01%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the firm earned $0.97 earnings per share. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. On average, equities research analysts expect that Illumina will post 5.21 earnings per share for the current fiscal year.

Insider Activity

In other Illumina news, Director Keith A. Meister sold 235,000 shares of Illumina stock in a transaction on Monday, June 1st. The shares were sold at an average price of $163.63, for a total value of $38,453,050.00. Following the transaction, the director directly owned 2,830,452 shares of the company’s stock, valued at approximately $463,146,860.76. The trade was a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott M. Davies sold 615 shares of the stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $180.00, for a total value of $110,700.00. Following the sale, the insider owned 20,953 shares of the company’s stock, valued at approximately $3,771,540. This represents a 2.85% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,003,769 shares of company stock worth $155,710,908. 2.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ILMN. Elyxium Wealth LLC acquired a new position in Illumina during the 4th quarter valued at about $25,000. Board of the Pension Protection Fund acquired a new stake in Illumina in the fourth quarter worth about $26,000. Creative Capital Management Investments LLC grew its stake in shares of Illumina by 160.0% during the fourth quarter. Creative Capital Management Investments LLC now owns 195 shares of the life sciences company’s stock worth $26,000 after acquiring an additional 120 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new stake in shares of Illumina during the fourth quarter worth about $26,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of Illumina during the fourth quarter worth about $26,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

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.