Illumina (NASDAQ:ILMN) Downgraded to Sector Perform Rating by Scotiabank

Scotiabank lowered shares of Illumina (NASDAQ:ILMN - Free Report) from a sector outperform rating to a sector perform rating in a research note published on Friday morning, MarketBeat.com reports. The brokerage currently has $125.00 price objective on the life sciences company's stock.

Several other equities research analysts have also weighed in on the company. Piper Sandler reduced their price objective on Illumina from $190.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, May 15th. Guggenheim reduced their price objective on Illumina from $122.00 to $114.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Citigroup lowered Illumina from a "hold" rating to a "strong sell" rating and reduced their price objective for the stock from $85.00 to $80.00 in a research note on Wednesday. Evercore ISI raised their price objective on Illumina from $116.00 to $128.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Royal Bank Of Canada decreased their target price on Illumina from $128.00 to $112.00 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $125.11.

Illumina Stock Performance

ILMN stock traded down $0.80 on Friday, reaching $99.25. The company's stock had a trading volume of 1,998,677 shares, compared to its average volume of 2,151,831. The firm has a fifty day moving average of $87.18 and a two-hundred day moving average of $96.48. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.86 and a quick ratio of 1.48. The company has a market capitalization of $15.71 billion, a P/E ratio of -16.35, a price-to-earnings-growth ratio of 1.96 and a beta of 1.36. Illumina has a 52 week low of $68.70 and a 52 week high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. Illumina had a positive return on equity of 25.54% and a negative net margin of 22.25%. The firm's quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the company posted $0.98 EPS. As a group, analysts predict that Illumina will post 4.51 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Ankur Dhingra bought 6,100 shares of the business's stock in a transaction on Monday, May 12th. The shares were bought at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the completion of the acquisition, the chief financial officer directly owned 24,906 shares in the company, valued at approximately $2,022,616.26. This represents a 32.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Illumina

A number of institutional investors have recently made changes to their positions in the business. Freedom Investment Management Inc. increased its stake in shares of Illumina by 3.7% in the fourth quarter. Freedom Investment Management Inc. now owns 2,856 shares of the life sciences company's stock worth $382,000 after purchasing an additional 101 shares during the period. Moors & Cabot Inc. raised its holdings in Illumina by 2.5% in the 1st quarter. Moors & Cabot Inc. now owns 5,855 shares of the life sciences company's stock valued at $465,000 after acquiring an additional 145 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Illumina by 16.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,108 shares of the life sciences company's stock worth $148,000 after buying an additional 156 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its position in Illumina by 3.0% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,604 shares of the life sciences company's stock valued at $445,000 after acquiring an additional 164 shares during the period. Finally, Signaturefd LLC grew its position in Illumina by 10.4% in the fourth quarter. Signaturefd LLC now owns 1,880 shares of the life sciences company's stock valued at $251,000 after acquiring an additional 177 shares during the period. 89.42% of the stock is currently owned by institutional investors.

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.