Citigroup Cuts Illumina (NASDAQ:ILMN) Price Target to $90.00

Illumina (NASDAQ:ILMN) had its target price cut by Citigroup from $130.00 to $90.00 in a research note released on Tuesday morning, Marketbeat.com reports. They currently have a neutral rating on the life sciences company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Stephens increased their price target on shares of Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. TD Cowen downgraded Illumina from a “buy” rating to a “hold” rating and cut their target price for the company from $177.00 to $140.00 in a research note on Friday, February 7th. Hsbc Global Res lowered Illumina from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. JPMorgan Chase & Co. upped their price target on Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Piper Sandler lifted their price objective 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 assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $149.25.

Illumina Stock Down 1.2 %

Shares of NASDAQ:ILMN opened at $84.65 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $119.36 and a two-hundred day simple moving average of $131.84. Illumina has a 12-month low of $80.18 and a 12-month high of $156.66. The stock has a market capitalization of $13.41 billion, a price-to-earnings ratio of -11.02, a PEG ratio of 1.60 and a beta of 1.17.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. On average, research analysts anticipate that Illumina will post 4.51 earnings per share for the current fiscal year.

Institutional Trading of Illumina

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

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.