Illumina (NASDAQ:ILMN) Downgraded to Hold Rating by TD Cowen

Illumina (NASDAQ:ILMN) was downgraded by research analysts at TD Cowen from a “buy” rating to a “hold” rating in a research note issued on Friday,Briefing.com Automated Import reports. They presently have a $140.00 price objective on the life sciences company’s stock, down from their prior price objective of $177.00. TD Cowen’s price objective suggests a potential upside of 14.01% from the company’s previous close.

ILMN has been the subject of a number of other research reports. Barclays dropped their target price on Illumina from $145.00 to $130.00 and set an “equal weight” rating for the company in a research report on Monday. Piper Sandler dropped their target price on Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Stephens boosted their target price on Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Robert W. Baird lifted their price target on Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, UBS Group lifted their price target on Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Illumina currently has a consensus rating of “Moderate Buy” and an average target price of $162.89.

Illumina Stock Performance

Shares of ILMN opened at $122.80 on Friday. The company has a market cap of $19.48 billion, a PE ratio of -12.33 and a beta of 1.10. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. The stock has a 50-day moving average price of $137.37 and a 200-day moving average price of $135.34. Illumina has a 12-month low of $100.08 and a 12-month high of $156.66.

Illumina (NASDAQ:ILMN) last released its 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 7.29% and a negative net margin of 36.10%. As a group, equities analysts forecast that Illumina will post 4.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Illumina

Several hedge funds have recently added to or reduced their stakes in the stock. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Illumina in the fourth quarter worth $601,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Illumina during the fourth quarter valued at $45,000. Edgestream Partners L.P. lifted its holdings in shares of Illumina by 94.1% during the fourth quarter. Edgestream Partners L.P. now owns 23,705 shares of the life sciences company’s stock valued at $3,168,000 after purchasing an additional 11,493 shares in the last quarter. Prescott Group Capital Management L.L.C. lifted its holdings in shares of Illumina by 200.0% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 9,000 shares of the life sciences company’s stock valued at $1,203,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. lifted its holdings in shares of Illumina by 699.3% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 17,217 shares of the life sciences company’s stock valued at $2,301,000 after purchasing an additional 15,063 shares in the last quarter. 89.42% of the stock is owned by institutional investors.

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.