Illumina (NASDAQ:ILMN) Hits New 12-Month High – Still a Buy?

Illumina, Inc. (NASDAQ:ILMN)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $153.99 and last traded at $151.60, with a volume of 347676 shares changing hands. The stock had previously closed at $149.76.

Analyst Ratings Changes

ILMN has been the topic of a number of recent analyst reports. Piper Sandler cut their price target on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $252.00 price target on shares of Illumina in a research report on Thursday, October 10th. Daiwa Capital Markets raised Illumina from a “neutral” rating to a “buy” rating and increased their price objective for the company from $120.00 to $154.00 in a report on Friday, August 16th. Scotiabank decreased their target price on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a report on Thursday, August 15th. Finally, UBS Group raised their price target on shares of Illumina from $131.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $154.33.

Illumina Stock Performance

The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 1.04. The firm has a 50-day moving average price of $135.93 and a two-hundred day moving average price of $122.39. The firm has a market cap of $24.55 billion, a PE ratio of -7.82 and a beta of 1.13.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.24. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the firm posted $0.32 EPS. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. Research analysts forecast that Illumina, Inc. will post 3.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Industrial Alliance Investment Management Inc. purchased a new position in Illumina during the second quarter worth approximately $34,000. Versant Capital Management Inc grew its holdings in shares of Illumina by 292.9% during the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after purchasing an additional 246 shares during the period. Massmutual Trust Co. FSB ADV increased its position in shares of Illumina by 65.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock worth $56,000 after purchasing an additional 168 shares during the last quarter. Focused Wealth Management Inc purchased a new stake in Illumina in the 3rd quarter valued at about $63,000. Finally, Hollencrest Capital Management acquired a new position in Illumina in the third quarter valued at about $63,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

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.