Illumina’s (ILMN) “Equal Weight” Rating Reaffirmed at Morgan Stanley

Morgan Stanley reissued their equal weight rating on shares of Illumina (NASDAQ:ILMN) in a report published on Tuesday morning, MarketBeat Ratings reports. The firm currently has a $156.00 price target on the life sciences company’s stock.

Several other equities analysts have also recently weighed in on ILMN. Scotiabank decreased their price target on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target on shares of Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. HSBC upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research note on Thursday, October 17th. StockNews.com started coverage on Illumina in a research report on Thursday, August 29th. They issued a “buy” rating on the stock. Finally, UBS Group increased their price target on Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $164.00.

Illumina Stock Down 2.6 %

ILMN opened at $147.62 on Tuesday. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. Illumina has a 12 month low of $92.26 and a 12 month high of $156.66. The firm’s fifty day simple moving average is $138.50 and its 200 day simple moving average is $123.77.

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

Hedge Funds Weigh In On Illumina

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jupiter Asset Management Ltd. acquired a new position in Illumina in the 1st quarter valued at $4,527,000. US Bancorp DE grew its stake in shares of Illumina by 33.9% in the first quarter. US Bancorp DE now owns 31,600 shares of the life sciences company’s stock valued at $4,339,000 after acquiring an additional 8,001 shares in the last quarter. Cetera Advisors LLC bought a new position in Illumina during the first quarter worth about $610,000. Weybosset Research & Management LLC raised its stake in Illumina by 92.0% in the 3rd quarter. Weybosset Research & Management LLC now owns 18,052 shares of the life sciences company’s stock worth $2,354,000 after purchasing an additional 8,650 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Illumina by 309.3% in the 1st quarter. Sei Investments Co. now owns 71,143 shares of the life sciences company’s stock valued at $9,769,000 after purchasing an additional 53,761 shares during the period. Institutional investors and hedge funds 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.