Illumina (NASDAQ:ILMN) Price Target Raised to $200.00

Illumina (NASDAQ:ILMN) had its target price lifted by research analysts at Piper Sandler from $170.00 to $200.00 in a report issued on Wednesday, MarketBeat Ratings reports. The firm currently has an “overweight” rating on the life sciences company’s stock. Piper Sandler’s price target would indicate a potential upside of 13.75% from the stock’s current price.

ILMN has been the topic of several other reports. Daiwa Securities Group upgraded shares of Illumina from a “neutral” rating to an “outperform” rating and set a $155.00 price target on the stock in a report on Thursday, May 14th. Canaccord Genuity Group decreased their price objective on shares of Illumina from $150.00 to $140.00 and set a “hold” rating for the company in a research note on Friday, May 1st. JPMorgan Chase & Co. raised shares of Illumina from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $125.00 to $185.00 in a research report on Wednesday, June 10th. Evercore restated an “outperform” rating on shares of Illumina in a research note on Friday, May 1st. Finally, Sanford C. Bernstein assumed coverage on Illumina in a research report on Friday. They set a “market perform” rating and a $185.00 price target for the company. Eight research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Illumina currently has an average rating of “Hold” and an average target price of $148.94.

Illumina Trading Down 2.9%

Shares of Illumina stock opened at $175.83 on Wednesday. The company has a market capitalization of $26.60 billion, a P/E ratio of 31.97, a price-to-earnings-growth ratio of 3.39 and a beta of 1.50. The stock has a fifty day simple moving average of $151.42 and a 200 day simple moving average of $138.36. Illumina has a 12-month low of $88.00 and a 12-month high of $182.84. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.56.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Thursday, April 30th. The life sciences company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.10. Illumina had a return on equity of 31.01% and a net margin of 19.42%.The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the business earned $0.97 EPS. The business’s revenue was up 4.8% on a year-over-year basis. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. On average, sell-side analysts anticipate that Illumina will post 5.21 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Scott M. Davies sold 615 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $180.00, for a total value of $110,700.00. Following the sale, the insider directly owned 20,953 shares in the company, valued at approximately $3,771,540. The trade was a 2.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Keith A. Meister sold 235,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $163.63, for a total transaction of $38,453,050.00. Following the sale, the director directly owned 2,830,452 shares in the company, valued at approximately $463,146,860.76. This trade represents a 7.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,003,769 shares of company stock worth $155,710,908. 2.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Illumina

Several hedge funds have recently bought and sold shares of ILMN. Capital World Investors increased its holdings in shares of Illumina by 0.6% in the fourth quarter. Capital World Investors now owns 20,101,173 shares of the life sciences company’s stock worth $2,636,483,000 after purchasing an additional 124,323 shares during the period. State Street Corp grew its position in Illumina by 3.2% during the fourth quarter. State Street Corp now owns 6,190,114 shares of the life sciences company’s stock worth $811,895,000 after buying an additional 190,324 shares in the last quarter. WCM Investment Management LLC increased its stake in Illumina by 45.5% in the 1st quarter. WCM Investment Management LLC now owns 5,923,173 shares of the life sciences company’s stock worth $715,579,000 after acquiring an additional 1,851,848 shares during the last quarter. AQR Capital Management LLC increased its stake in Illumina by 30.3% in the 4th quarter. AQR Capital Management LLC now owns 4,426,126 shares of the life sciences company’s stock worth $580,531,000 after acquiring an additional 1,028,099 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Illumina by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 2,869,047 shares of the life sciences company’s stock valued at $375,260,000 after acquiring an additional 130,139 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

About Illumina

Illumina, Inc (NASDAQ: ILMN) is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company’s product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.