Royal Bank of Canada Cuts Illumina (NASDAQ:ILMN) Price Target to $112.00

Illumina (NASDAQ:ILMN) had its price objective reduced by Royal Bank of Canada from $128.00 to $112.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the life sciences company’s stock.

Other equities analysts also recently issued reports about the stock. Hsbc Global Res downgraded shares of Illumina from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Robert W. Baird lowered their price target on shares of Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Canaccord Genuity Group cut their price objective on shares of Illumina from $135.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday, March 11th. Barclays reaffirmed an “underweight” rating on shares of Illumina in a research report on Tuesday, March 11th. Finally, Piper Sandler lifted their price target on Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $138.70.

Illumina Stock Performance

Shares of ILMN opened at $71.26 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42. The firm has a 50-day moving average of $89.57 and a 200-day moving average of $122.68. The company has a market cap of $11.29 billion, a PE ratio of -9.28, a price-to-earnings-growth ratio of 1.60 and a beta of 1.38. Illumina has a one year low of $68.70 and a one year high of $156.66.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. As a group, equities analysts forecast that Illumina will post 4.51 earnings per share for the current year.

Institutional Trading of Illumina

Several large investors have recently made changes to their positions in the company. Versant Capital Management Inc lifted its stake in Illumina by 153.7% during the fourth quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock worth $32,000 after purchasing an additional 146 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Illumina during the 4th quarter worth $32,000. Fourth Dimension Wealth LLC acquired a new stake in Illumina in the fourth quarter valued at about $40,000. Assetmark Inc. boosted its stake in Illumina by 954.8% in the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock valued at $44,000 after buying an additional 296 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Illumina in the fourth quarter valued at about $45,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

About Illumina

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.