Illumina (NASDAQ:ILMN) Price Target Lowered to $132.00 at Evercore ISI

Key Points

• Illumina's price target was lowered by Evercore ISI from $135.00 to $132.00, indicating a potential upside of 36.40% from its current stock price.
• Multiple analysts have provided varying ratings on Illumina, with the average rating classified as a "Hold" and a price target of $123.56.
• Illumina experienced a decline in stock price, trading down to $96.77, and reported quarterly earnings of $1.19 per share, beating estimates but showing a year-over-year revenue decline of 4.8%.

Illumina (NASDAQ:ILMN - Get Free Report) had its price objective decreased by research analysts at Evercore ISI from $135.00 to $132.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the life sciences company's stock. Evercore ISI's price objective would suggest a potential upside of 36.40% from the stock's current price.

Several other equities research analysts have also weighed in on the stock. Canaccord Genuity Group upped their target price on shares of Illumina from $99.00 to $105.00 and gave the stock a "hold" rating in a report on Friday, August 1st. Robert W. Baird increased their price objective on shares of Illumina from $84.00 to $105.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Barclays increased their price objective on shares of Illumina from $90.00 to $95.00 and gave the stock an "underweight" rating in a report on Thursday, October 2nd. Wall Street Zen lowered shares of Illumina from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Daiwa Capital Markets lowered shares of Illumina from an "outperform" rating to a "neutral" rating and set a $94.00 target price on the stock. in a research note on Tuesday, August 12th. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $123.56.

Illumina Stock Performance

Illumina stock traded down $4.25 on Tuesday, hitting $96.77. The company's stock had a trading volume of 550,784 shares, compared to its average volume of 2,204,823. The firm has a market cap of $14.87 billion, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 2.46 and a beta of 1.40. The company has a quick ratio of 1.41, a current ratio of 1.81 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average price of $98.89 and a 200-day moving average price of $90.01. Illumina has a one year low of $68.70 and a one year high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The life sciences company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.17. Illumina had a net margin of 29.36% and a return on equity of 28.93%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the firm posted $0.36 EPS. The business's revenue for the quarter was down 4.8% on a year-over-year basis. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. On average, equities analysts anticipate that Illumina will post 4.51 earnings per share for the current year.

Hedge Funds Weigh In On Illumina

Several hedge funds and other institutional investors have recently made changes to their positions in ILMN. Rise Advisors LLC boosted its position in Illumina by 173.6% during the first quarter. Rise Advisors LLC now owns 353 shares of the life sciences company's stock worth $28,000 after purchasing an additional 224 shares during the period. Parkside Financial Bank & Trust boosted its position in Illumina by 65.7% during the second quarter. Parkside Financial Bank & Trust now owns 290 shares of the life sciences company's stock worth $28,000 after purchasing an additional 115 shares during the period. Rakuten Securities Inc. boosted its position in Illumina by 290.3% during the first quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company's stock worth $29,000 after purchasing an additional 270 shares during the period. Center for Financial Planning Inc. bought a new stake in shares of Illumina in the first quarter valued at about $33,000. Finally, Cullen Frost Bankers Inc. bought a new position in Illumina during the second quarter worth about $41,000. 89.42% of the stock is 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.

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