Illumina (NASDAQ:ILMN) Price Target Raised to $126.00

Key Points

• Royal Bank Of Canada raised Illumina's price target from $118.00 to $126.00, indicating a potential upside of 30.97% from the last closing price.
• Illumina's stock recently dropped 6.3% to $96.21, with a market cap of $15.23 billion and a year-over-year revenue decline of 4.8%.
• Company CFO Ankur Dhingra increased his ownership by purchasing 6,100 shares, reflecting a 32.44% rise in his stake in the company.

Illumina (NASDAQ:ILMN - Get Free Report) had its target price boosted by research analysts at Royal Bank Of Canada from $118.00 to $126.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the life sciences company's stock. Royal Bank Of Canada's price target would suggest a potential upside of 30.97% from the company's previous close.

Several other equities research analysts also recently weighed in on ILMN. Morgan Stanley cut their price target on Illumina from $136.00 to $100.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Piper Sandler dropped their target price on Illumina from $190.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. JPMorgan Chase & Co. dropped their target price on Illumina from $120.00 to $85.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Stephens restated an "overweight" rating and set a $105.00 target price on shares of Illumina in a research report on Tuesday, May 20th. Finally, Canaccord Genuity Group raised their target price on Illumina from $99.00 to $105.00 and gave the company a "hold" rating in a research report on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Illumina presently has a consensus rating of "Hold" and a consensus target price of $127.21.

Illumina Stock Down 6.3%

Shares of Illumina stock traded down $6.50 during trading on Friday, reaching $96.21. The company's stock had a trading volume of 2,228,853 shares, compared to its average volume of 2,395,114. The company has a quick ratio of 1.48, a current ratio of 1.86 and a debt-to-equity ratio of 0.63. The company has a market cap of $15.23 billion, a price-to-earnings ratio of -15.85, a P/E/G ratio of 2.08 and a beta of 1.36. Illumina has a 1-year low of $68.70 and a 1-year high of $156.66. The company has a 50-day simple moving average of $93.52 and a two-hundred day simple moving average of $93.18.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its earnings results on Thursday, July 31st. The life sciences company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.17. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.12 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 4.8% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. As a group, equities analysts forecast that Illumina will post 4.51 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Ankur Dhingra purchased 6,100 shares of Illumina stock in a transaction dated Monday, May 12th. The shares were purchased at an average price of $81.21 per share, with a total value of $495,381.00. Following the transaction, the chief financial officer owned 24,906 shares in the company, valued at $2,022,616.26. This represents a 32.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is owned by company insiders.

Institutional Trading of Illumina

Several institutional investors have recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. raised its position in shares of Illumina by 0.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 12,074 shares of the life sciences company's stock valued at $1,152,000 after buying an additional 99 shares during the period. Freedom Investment Management Inc. increased its holdings in Illumina by 3.7% in the 4th quarter. Freedom Investment Management Inc. now owns 2,856 shares of the life sciences company's stock valued at $382,000 after purchasing an additional 101 shares during the last quarter. Moors & Cabot Inc. increased 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 purchasing an additional 145 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in Illumina by 3.0% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,604 shares of the life sciences company's stock valued at $445,000 after purchasing an additional 164 shares during the last quarter. Finally, Whipplewood Advisors LLC increased its holdings in Illumina by 22.2% in the 2nd quarter. Whipplewood Advisors LLC now owns 929 shares of the life sciences company's stock valued at $89,000 after purchasing an additional 169 shares during the last quarter. 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.

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