Illumina (NASDAQ:ILMN) Downgraded by TD Cowen to Hold

TD Cowen downgraded shares of Illumina (NASDAQ:ILMN) from a buy rating to a hold rating in a report released on Friday morning, MarketBeat Ratings reports. They currently have $140.00 price objective on the life sciences company’s stock, down from their previous price objective of $177.00.

A number of other analysts have also weighed in on ILMN. Hsbc Global Res upgraded Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 target price on the stock in a research note on Thursday, October 17th. UBS Group raised their price target on shares of Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Barclays decreased their price objective on shares of Illumina from $145.00 to $130.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Morgan Stanley dropped their target price on shares of Illumina from $156.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, Piper Sandler decreased their price target on shares of Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.40.

Illumina Price Performance

Illumina stock opened at $111.06 on Friday. The firm has a market capitalization of $17.61 billion, a PE ratio of -14.46 and a beta of 1.10. Illumina has a 12-month low of $100.08 and a 12-month high of $156.66. The firm has a 50-day moving average price of $136.70 and a 200-day moving average price of $135.29. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94.

Illumina (NASDAQ:ILMN) last announced its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) 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 12.59%. As a group, equities research analysts forecast that Illumina will post 4.42 EPS for the current year.

Institutional Investors Weigh In On Illumina

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Cetera Investment Advisers lifted its holdings in shares of Illumina by 25.8% during the 2nd quarter. Cetera Investment Advisers now owns 18,384 shares of the life sciences company’s stock valued at $1,919,000 after purchasing an additional 3,767 shares during the last quarter. Diversified Trust Co purchased a new stake in Illumina in the third quarter valued at about $243,000. CWM LLC boosted its holdings in Illumina by 179.8% in the third quarter. CWM LLC now owns 16,207 shares of the life sciences company’s stock worth $2,114,000 after acquiring an additional 10,414 shares in the last quarter. Perpetual Ltd purchased a new stake in shares of Illumina during the third quarter worth about $723,000. Finally, UMB Bank n.a. increased its holdings in shares of Illumina by 23.7% during the third quarter. UMB Bank n.a. now owns 1,659 shares of the life sciences company’s stock valued at $216,000 after acquiring an additional 318 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.