Royal Bank of Canada Reiterates "Outperform" Rating for Illumina (NASDAQ:ILMN)

Illumina (NASDAQ:ILMN - Get Free Report)'s stock had its "outperform" rating reissued by research analysts at Royal Bank of Canada in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $253.00 price target on the life sciences company's stock. Royal Bank of Canada's price objective would indicate a potential upside of 89.41% from the company's current price.

Several other equities analysts also recently weighed in on ILMN. OTR Global reiterated a "mixed" rating on shares of Illumina in a research note on Wednesday, March 20th. Wolfe Research initiated coverage on shares of Illumina in a research note on Wednesday, December 13th. They issued an "outperform" rating and a $175.00 target price for the company. Sanford C. Bernstein upgraded shares of Illumina from an "underperform" rating to a "market perform" rating in a research note on Friday, December 15th. Barclays lifted their target price on shares of Illumina from $50.00 to $80.00 and gave the stock an "underweight" rating in a research note on Thursday, January 25th. Finally, HSBC downgraded shares of Illumina from a "buy" rating to a "hold" rating in a research note on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Illumina has an average rating of "Hold" and a consensus price target of $166.70.

Illumina Stock Performance

NASDAQ ILMN traded up $3.45 during trading hours on Tuesday, reaching $133.57. 1,735,437 shares of the company were exchanged, compared to its average volume of 1,775,038. Illumina has a 1 year low of $89.00 and a 1 year high of $232.88. The business's 50 day simple moving average is $136.93 and its 200-day simple moving average is $128.46. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $21.27 billion, a P/E ratio of -18.33 and a beta of 1.19.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The life sciences company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.13. Illumina had a negative net margin of 25.78% and a positive return on equity of 2.20%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the company posted $0.14 earnings per share. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts expect that Illumina will post 0.91 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Jacob Thaysen purchased 7,330 shares of the business's stock in a transaction on Thursday, February 22nd. The stock was acquired at an average price of $135.29 per share, with a total value of $991,675.70. Following the purchase, the chief executive officer now directly owns 14,861 shares in the company, valued at $2,010,544.69. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.13% of the company's stock.

Institutional Investors Weigh In On Illumina

Institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC raised its holdings in Illumina by 312.5% during the 1st quarter. Acadian Asset Management LLC now owns 2,013 shares of the life sciences company's stock valued at $702,000 after buying an additional 1,525 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Illumina by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 237,118 shares of the life sciences company's stock valued at $82,853,000 after buying an additional 7,114 shares during the last quarter. Dakota Wealth Management raised its holdings in Illumina by 13.8% during the 1st quarter. Dakota Wealth Management now owns 826 shares of the life sciences company's stock valued at $288,000 after buying an additional 100 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in Illumina by 16.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 803 shares of the life sciences company's stock valued at $281,000 after buying an additional 116 shares during the last quarter. Finally, Baird Financial Group Inc. raised its holdings in Illumina by 10.2% during the 1st quarter. Baird Financial Group Inc. now owns 48,943 shares of the life sciences company's stock valued at $17,108,000 after buying an additional 4,548 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.