Royal Bank of Canada Lowers Illumina (NASDAQ:ILMN) Price Target to $247.00

Illumina (NASDAQ:ILMN) had its price target decreased by Royal Bank of Canada from $250.00 to $247.00 in a research report report published on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the life sciences company’s stock.

Other research analysts have also recently issued reports about the company. Morgan Stanley lowered their price target on Illumina from $156.00 to $150.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Robert W. Baird upped their target price on shares of Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. TD Cowen downgraded shares of Illumina from a “buy” rating to a “hold” rating and reduced their price target for the company from $177.00 to $140.00 in a report on Friday. Leerink Partners increased their price objective on shares of Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Piper Sandler reduced their target price on Illumina from $195.00 to $185.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $161.40.

Illumina Stock Performance

ILMN opened at $111.06 on Friday. The firm has a market cap of $17.61 billion, a P/E ratio of -11.15 and a beta of 1.10. Illumina has a 1-year low of $100.08 and a 1-year high of $156.66. The company has a 50 day simple moving average of $137.37 and a two-hundred day simple moving average of $135.34. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. Equities analysts forecast that Illumina will post 4.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. WCM Investment Management LLC lifted its stake in shares of Illumina by 26.6% during the 4th quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company’s stock worth $551,625,000 after acquiring an additional 867,673 shares during the last quarter. ARK Investment Management LLC bought a new stake in shares of Illumina during the fourth quarter worth $91,714,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Illumina by 148.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,056,172 shares of the life sciences company’s stock valued at $137,735,000 after purchasing an additional 631,294 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Illumina by 40.5% during the third quarter. Janus Henderson Group PLC now owns 2,168,057 shares of the life sciences company’s stock valued at $282,735,000 after purchasing an additional 625,245 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Illumina by 116.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 865,546 shares of the life sciences company’s stock worth $115,663,000 after purchasing an additional 466,519 shares during the last quarter. Hedge funds and other institutional investors 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.