Robert W. Baird Raises Illumina (NASDAQ:ILMN) Price Target to $105.00

Key Points

• Analysts at Robert W. Baird have raised the target price for Illumina's stock from $84.00 to $105.00, while maintaining a "neutral" rating.
• Illumina reported earnings of $0.97 per share, exceeding analysts' expectations, with a total revenue of $1.04 billion for the quarter.
• Insider activity included CFO Ankur Dhingra purchasing 6,100 shares of the company's stock, increasing his ownership by 32.44%.

Illumina (NASDAQ:ILMN - Get Free Report) had its target price raised by analysts at Robert W. Baird from $84.00 to $105.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "neutral" rating on the life sciences company's stock. Robert W. Baird's price objective would indicate a potential downside of 3.93% from the stock's current price.

A number of other equities analysts have also recently issued reports on the stock. Morgan Stanley cut their target price on shares of Illumina from $136.00 to $100.00 and set an "equal weight" rating on the stock in a report on Monday, May 12th. Guggenheim lowered their price target on shares of Illumina from $122.00 to $114.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Royal Bank Of Canada lowered their price target on shares of Illumina from $128.00 to $112.00 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. Canaccord Genuity Group upped their price target on shares of Illumina from $87.00 to $99.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Finally, Scotiabank cut Illumina from a "sector outperform" rating to a "sector perform" rating and set a $125.00 price target on the stock. in a report on Friday, July 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $125.89.

Illumina Stock Performance

Shares of ILMN stock opened at $109.30 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.48 and a current ratio of 1.86. Illumina has a one year low of $68.70 and a one year high of $156.66. The company's 50-day simple moving average is $91.50 and its 200-day simple moving average is $93.45. The stock has a market capitalization of $17.30 billion, a price-to-earnings ratio of -18.01, a PEG ratio of 2.14 and a beta of 1.36.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Illumina had a negative net margin of 22.25% and a positive return on equity of 25.54%. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter last year, the company posted $0.98 earnings per share. Illumina's revenue was down 1.4% on a year-over-year basis. Equities analysts anticipate that Illumina will post 4.51 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Ankur Dhingra purchased 6,100 shares of the company's stock in a transaction on Monday, May 12th. The shares were bought at an average price of $81.21 per share, with a total value of $495,381.00. Following the completion of the acquisition, the chief financial officer owned 24,906 shares of the company's stock, valued at approximately $2,022,616.26. This represents a 32.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.17% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Capital World Investors increased 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 buying an additional 14,481,232 shares in the last quarter. Vanguard Group Inc. raised its stake in Illumina by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 16,371,662 shares of the life sciences company's stock valued at $1,298,928,000 after purchasing an additional 558,243 shares during the period. WCM Investment Management LLC raised its stake in Illumina by 1.2% during the 1st quarter. WCM Investment Management LLC now owns 4,179,011 shares of the life sciences company's stock valued at $334,321,000 after purchasing an additional 49,156 shares during the period. Corvex Management LP raised its stake in Illumina by 125.2% during the 1st quarter. Corvex Management LP now owns 3,829,608 shares of the life sciences company's stock valued at $303,841,000 after purchasing an additional 2,129,449 shares during the period. Finally, Brown Advisory Inc. raised its stake in Illumina by 52.1% during the 1st quarter. Brown Advisory Inc. now owns 2,909,228 shares of the life sciences company's stock valued at $230,818,000 after purchasing an additional 996,589 shares during the period. Institutional investors own 89.42% of the company's stock.

About Illumina

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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