Illumina (NASDAQ:ILMN) Trading Down 6% - Time to Sell?

Key Points

• Illumina's stock price fell 6% to $89.31 during trading, with a significant decline in trading volume compared to the average.
• Recent analyst ratings reveal a mix of opinions, with six analysts rating it as a Buy, eleven as Hold, and three as Sell, while the consensus target price is $123.56.
• The company's Q2 earnings report showed a revenue decline of 4.8% year-over-year, with EPS of $1.19, surpassing the analyst estimates of $1.02.

Illumina, Inc. (NASDAQ:ILMN - Get Free Report)'s stock price fell 6% during trading on Tuesday . The stock traded as low as $91.02 and last traded at $89.31. 328,435 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 2,176,848 shares. The stock had previously closed at $95.03.

Analysts Set New Price Targets

ILMN has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Illumina in a research report on Wednesday, October 8th. Canaccord Genuity Group upped their price target on shares of Illumina from $99.00 to $105.00 and gave the company a "hold" rating in a report on Friday, August 1st. Scotiabank lowered shares of Illumina from a "sector outperform" rating to a "sector perform" rating and set a $125.00 price objective for the company. in a report on Friday, July 11th. Evercore ISI cut their target price on shares of Illumina from $135.00 to $132.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 7th. Finally, Morgan Stanley boosted their price objective on Illumina from $100.00 to $105.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Illumina has an average rating of "Hold" and a consensus target price of $123.56.

Illumina Stock Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.81 and a quick ratio of 1.41. The firm has a market capitalization of $14.08 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 2.26 and a beta of 1.40. The firm's fifty day moving average is $98.26 and its 200 day moving average is $90.42.

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

Institutional Investors Weigh In On Illumina

A number of large investors have recently bought and sold shares of ILMN. Diversified Trust Co acquired a new stake in shares of Illumina in the first quarter worth about $355,000. Bourgeon Capital Management LLC grew its holdings in Illumina by 76.4% during the second quarter. Bourgeon Capital Management LLC now owns 141,896 shares of the life sciences company's stock valued at $13,538,000 after purchasing an additional 61,468 shares during the last quarter. GC Wealth Management RIA LLC bought a new position in shares of Illumina in the second quarter valued at approximately $2,289,000. State of Alaska Department of Revenue boosted its holdings in shares of Illumina by 2.5% during the 1st quarter. State of Alaska Department of Revenue now owns 18,527 shares of the life sciences company's stock worth $1,469,000 after buying an additional 445 shares during the period. Finally, waypoint wealth counsel bought a new position in Illumina in the 2nd quarter worth $321,000. 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.

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