Piper Sandler Has Lowered Expectations for Illumina (NASDAQ:ILMN) Stock Price

Illumina (NASDAQ:ILMN) had its target price decreased by Piper Sandler from $195.00 to $185.00 in a report published on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the life sciences company’s stock.

A number of other equities analysts have also recently commented on the stock. Citigroup lifted their target price on shares of Illumina from $155.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. StockNews.com began coverage on shares of Illumina in a research report on Thursday, August 29th. They issued a “buy” rating on the stock. TD Cowen lifted their target price on shares of Illumina from $166.00 to $177.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Daiwa America upgraded shares of Illumina to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Argus upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $163.71.

Illumina Stock Performance

NASDAQ ILMN opened at $151.50 on Monday. Illumina has a 52-week low of $92.26 and a 52-week high of $156.66. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.86 and a current ratio of 2.43. The company has a market capitalization of $24.03 billion, a P/E ratio of -15.21 and a beta of 1.13. The company has a fifty day moving average of $138.09 and a 200-day moving average of $123.55.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm posted $0.33 EPS. The firm’s revenue was down 3.5% compared to the same quarter last year. As a group, equities research analysts predict that Illumina will post 4.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Illumina

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC boosted its stake in Illumina by 41.5% during the first quarter. Janney Montgomery Scott LLC now owns 3,070 shares of the life sciences company’s stock worth $422,000 after acquiring an additional 900 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Illumina by 426.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,460 shares of the life sciences company’s stock worth $2,123,000 after acquiring an additional 12,521 shares in the last quarter. Empowered Funds LLC boosted its stake in Illumina by 26.9% during the first quarter. Empowered Funds LLC now owns 3,340 shares of the life sciences company’s stock worth $459,000 after acquiring an additional 708 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in Illumina during the first quarter worth about $307,000. Finally, Sei Investments Co. boosted its stake in Illumina by 309.3% during the first quarter. Sei Investments Co. now owns 71,143 shares of the life sciences company’s stock worth $9,769,000 after acquiring an additional 53,761 shares in 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.