Illumina (NASDAQ:ILMN) Sets New 12-Month Low – Here’s What Happened

Illumina, Inc. (NASDAQ:ILMN) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $76.63 and last traded at $77.53, with a volume of 589920 shares traded. The stock had previously closed at $81.88.

Analyst Upgrades and Downgrades

ILMN has been the subject of a number of recent analyst reports. Morgan Stanley lowered their price target on Illumina from $150.00 to $136.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. Canaccord Genuity Group lowered their target price on shares of Illumina from $135.00 to $115.00 and set a “hold” rating for the company in a research note on Tuesday, March 11th. Royal Bank of Canada decreased their price target on shares of Illumina from $247.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. Robert W. Baird lowered their price objective on shares of Illumina from $127.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Finally, Hsbc Global Res lowered Illumina from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.90.

Illumina Stock Performance

The stock has a market capitalization of $12.10 billion, a P/E ratio of -9.95, a P/E/G ratio of 1.60 and a beta of 1.17. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. The stock has a 50 day simple moving average of $99.22 and a two-hundred day simple moving average of $125.82.

Illumina (NASDAQ:ILMN) last released its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. On average, equities analysts forecast that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Illumina

A number of institutional investors and hedge funds have recently modified their holdings of ILMN. Bank of Stockton increased its position in Illumina by 3.8% during the fourth quarter. Bank of Stockton now owns 2,162 shares of the life sciences company’s stock worth $289,000 after buying an additional 80 shares during the last quarter. Stephens Inc. AR raised its stake in Illumina by 1.4% in the 4th quarter. Stephens Inc. AR now owns 6,623 shares of the life sciences company’s stock valued at $885,000 after acquiring an additional 90 shares during the period. Spire Wealth Management raised its stake in Illumina by 26.0% in the 4th quarter. Spire Wealth Management now owns 470 shares of the life sciences company’s stock valued at $63,000 after acquiring an additional 97 shares during the period. IFP Advisors Inc boosted its position in Illumina by 19.1% during the fourth quarter. IFP Advisors Inc now owns 617 shares of the life sciences company’s stock worth $82,000 after purchasing an additional 99 shares during the period. Finally, Freedom Investment Management Inc. boosted its position in Illumina by 3.7% during the fourth quarter. Freedom Investment Management Inc. now owns 2,856 shares of the life sciences company’s stock worth $382,000 after purchasing an additional 101 shares during the period. 89.42% of the stock is owned by institutional investors.

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.