Illumina (NASDAQ:ILMN) Stock Rating Lowered by StockNews.com

Illumina (NASDAQ:ILMN) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Several other equities research analysts have also recently commented on the company. Robert W. Baird boosted their target price on Illumina from $125.00 to $128.00 and gave the stock a “neutral” rating in a report on Friday. Stephens restated an “overweight” rating and issued a $170.00 price objective on shares of Illumina in a report on Wednesday, April 10th. TD Cowen lowered Illumina from an “outperform” rating to a “market perform” rating and set a $144.00 target price on the stock. in a report on Thursday, January 4th. OTR Global reiterated a “mixed” rating on shares of Illumina in a research report on Wednesday, March 20th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $253.00 price objective on shares of Illumina in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $165.10.

Illumina Stock Down 4.9 %

Shares of ILMN opened at $117.93 on Friday. Illumina has a one year low of $89.00 and a one year high of $213.91. The stock’s fifty day moving average is $130.03 and its 200-day moving average is $127.02. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.66 and a quick ratio of 1.29.

Illumina (NASDAQ:ILMN) last released its earnings results on Thursday, May 2nd. The life sciences company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.04 by $0.05. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.28%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the company earned $0.08 EPS. Illumina’s quarterly revenue was down 1.0% on a year-over-year basis. Analysts forecast that Illumina will post 0.91 EPS for the current year.

Insider Buying and Selling

In other Illumina news, CEO Jacob Thaysen bought 7,330 shares of the stock in a transaction on Thursday, February 22nd. The shares were bought 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 approximately $2,010,544.69. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Illumina

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bouvel Investment Partners LLC raised its holdings in shares of Illumina by 1.3% during the first quarter. Bouvel Investment Partners LLC now owns 6,547 shares of the life sciences company’s stock worth $899,000 after acquiring an additional 84 shares in the last quarter. STF Management LP raised its stake in shares of Illumina by 3.5% during the 4th quarter. STF Management LP now owns 2,644 shares of the life sciences company’s stock worth $368,000 after purchasing an additional 90 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Illumina by 12.3% during the 1st quarter. Global Retirement Partners LLC now owns 856 shares of the life sciences company’s stock valued at $118,000 after buying an additional 94 shares during the last quarter. Gulf International Bank UK Ltd lifted its holdings in shares of Illumina by 0.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 13,562 shares of the life sciences company’s stock valued at $1,862,000 after buying an additional 98 shares during the last quarter. Finally, Clear Creek Financial Management LLC grew its stake in shares of Illumina by 6.3% in the 4th quarter. Clear Creek Financial Management LLC now owns 1,695 shares of the life sciences company’s stock valued at $236,000 after buying an additional 100 shares in the last quarter. Hedge funds and other 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.