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

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ILMN shares. HSBC downgraded shares of Illumina from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a report on Friday, February 28th. Citigroup decreased their price target on Illumina from $130.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Guggenheim lowered their price objective on Illumina from $170.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Canaccord Genuity Group reduced their target price on Illumina from $135.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday, March 11th. Finally, Barclays reiterated an “underweight” rating on shares of Illumina in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $140.90.

Illumina Stock Down 6.7 %

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

Illumina (NASDAQ:ILMN) last announced its quarterly 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 13.37%. Equities research analysts forecast that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Illumina

Several large investors have recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in Illumina during the 4th quarter valued at about $32,000. Versant Capital Management Inc lifted its holdings in Illumina by 153.7% in the fourth quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock valued at $32,000 after buying an additional 146 shares during the period. Fourth Dimension Wealth LLC bought a new position in Illumina in the fourth quarter valued at approximately $40,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Illumina during the 4th quarter worth $45,000. Finally, Assetmark Inc. raised its position in shares of Illumina by 954.8% during the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock valued at $44,000 after acquiring an additional 296 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

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.