Canaccord Genuity Group Has Lowered Expectations for Illumina (NASDAQ:ILMN) Stock Price

Illumina (NASDAQ:ILMN - Free Report) had its price objective lowered by Canaccord Genuity Group from $115.00 to $92.00 in a report released on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the life sciences company's stock.

Other research analysts have also issued research reports about the stock. Barclays decreased their price target on shares of Illumina from $100.00 to $77.00 and set an "underweight" rating on the stock in a research report on Thursday, April 10th. Stephens reaffirmed an "overweight" rating and set a $156.00 target price on shares of Illumina in a research report on Tuesday, March 11th. Morgan Stanley decreased their price target on Illumina from $150.00 to $136.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 11th. Robert W. Baird cut their price objective on Illumina from $127.00 to $90.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. Finally, Guggenheim reduced their price objective on shares of Illumina from $170.00 to $150.00 and set a "buy" rating for the company in a research note on Friday, February 7th. 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $137.55.

Illumina Price Performance

NASDAQ ILMN traded up $1.37 on Tuesday, reaching $77.88. 1,190,941 shares of the stock traded hands, compared to its average volume of 2,283,628. Illumina has a 12 month low of $68.70 and a 12 month high of $156.66. The company has a market cap of $12.33 billion, a price-to-earnings ratio of -10.14, a P/E/G ratio of 1.60 and a beta of 1.38. The firm's fifty day simple moving average is $80.43 and its 200 day simple moving average is $116.34. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63.

Illumina (NASDAQ:ILMN - Get Free Report) last released its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) 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, research analysts predict that Illumina will post 4.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Capital World Investors boosted its stake in shares of Illumina by 408.6% during the 4th quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company's stock worth $2,408,721,000 after acquiring an additional 14,481,232 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Illumina by 54,220.9% in the fourth quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company's stock valued at $255,586,000 after purchasing an additional 1,909,118 shares during the period. Norges Bank acquired a new stake in shares of Illumina in the fourth quarter worth $228,714,000. Bessemer Group Inc. lifted its stake in shares of Illumina by 32,837.5% in the fourth quarter. Bessemer Group Inc. now owns 1,348,131 shares of the life sciences company's stock worth $180,152,000 after buying an additional 1,344,038 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Illumina by 2,057.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 922,281 shares of the life sciences company's stock worth $73,174,000 after buying an additional 879,533 shares during the period. 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.