Morgan Stanley Has Lowered Expectations for Illumina (NASDAQ:ILMN) Stock Price

Illumina (NASDAQ:ILMN - Get Free Report) had its target price reduced by stock analysts at Morgan Stanley from $136.00 to $100.00 in a research note issued on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the life sciences company's stock. Morgan Stanley's price target points to a potential upside of 25.00% from the company's previous close.

Several other equities analysts have also recently weighed in on the company. Piper Sandler lifted their price target on Illumina from $185.00 to $190.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Hsbc Global Res downgraded shares of Illumina from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th. Guggenheim lowered their price objective on Illumina from $122.00 to $114.00 and set a "buy" rating on the stock in a research report on Friday. Canaccord Genuity Group lowered their target price on shares of Illumina from $92.00 to $87.00 and set a "hold" rating on the stock in a research note on Monday. Finally, Citigroup decreased their price target on shares of Illumina from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten 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 an average rating of "Moderate Buy" and a consensus price target of $130.95.

Illumina Stock Up 5.6%

NASDAQ ILMN traded up $4.24 during trading hours on Monday, hitting $80.00. The company's stock had a trading volume of 1,179,886 shares, compared to its average volume of 2,283,182. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. The company's 50-day simple moving average is $78.94 and its two-hundred day simple moving average is $113.12. The company has a market capitalization of $12.66 billion, a PE ratio of -10.39, a price-to-earnings-growth ratio of 1.60 and a beta of 1.35. Illumina has a 52 week low of $68.70 and a 52 week high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. Illumina's revenue was down 1.4% compared to the same quarter last year. Research analysts anticipate that Illumina will post 4.51 EPS for the current fiscal year.

Institutional Trading of Illumina

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital World Investors raised its holdings in shares of Illumina by 408.6% in the fourth quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company's stock valued at $2,408,721,000 after acquiring an additional 14,481,232 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of Illumina by 54,220.9% in the 4th 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 in the last quarter. Norges Bank purchased a new stake in Illumina during the 4th quarter worth approximately $228,714,000. Bessemer Group Inc. increased its stake in Illumina by 32,837.5% during the 4th quarter. Bessemer Group Inc. now owns 1,348,131 shares of the life sciences company's stock valued at $180,152,000 after purchasing an additional 1,344,038 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Illumina by 2,057.5% in the first 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 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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