Illumina (NASDAQ:ILMN) Given New $85.00 Price Target at Citigroup

Illumina (NASDAQ:ILMN) had its target price lowered by analysts at Citigroup from $90.00 to $85.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the life sciences company’s stock. Citigroup’s target price suggests a potential upside of 18.65% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Guggenheim cut their price target on shares of Illumina from $170.00 to $150.00 and set a “buy” rating for the company in a report on Friday, February 7th. HSBC downgraded Illumina from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a report on Friday, February 28th. Morgan Stanley dropped their price target on Illumina from $150.00 to $136.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. Barclays reissued an “underweight” rating on shares of Illumina in a research note on Tuesday, March 11th. Finally, Royal Bank of Canada lowered their target price on Illumina from $247.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Illumina currently has an average rating of “Moderate Buy” and a consensus target price of $140.65.

Illumina Price Performance

Shares of ILMN stock traded down $2.52 during trading hours on Monday, hitting $71.64. The company had a trading volume of 1,685,995 shares, compared to its average volume of 2,221,476. Illumina has a 12 month low of $69.55 and a 12 month high of $156.66. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. The firm’s fifty day moving average is $96.82 and its 200 day moving average is $125.02. The firm has a market capitalization of $11.35 billion, a price-to-earnings ratio of -9.35, a PEG ratio of 1.60 and a beta of 1.38.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data 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 positive return on equity of 13.37% and a negative net margin of 27.95%. On average, sell-side analysts predict that Illumina will post 4.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. 111 Capital bought a new position in Illumina during the fourth quarter worth about $223,000. Wealth Enhancement Advisory Services LLC grew its holdings in Illumina by 13.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,197 shares of the life sciences company’s stock valued at $2,699,000 after purchasing an additional 2,421 shares during the period. PKO Investment Management Joint Stock Co acquired a new position in Illumina during the fourth quarter valued at approximately $200,000. Probity Advisors Inc. raised its holdings in Illumina by 12.2% in the fourth quarter. Probity Advisors Inc. now owns 2,054 shares of the life sciences company’s stock worth $274,000 after purchasing an additional 224 shares during the period. Finally, Siemens Fonds Invest GmbH boosted its position in shares of Illumina by 84.8% during the fourth quarter. Siemens Fonds Invest GmbH now owns 6,119 shares of the life sciences company’s stock worth $818,000 after purchasing an additional 2,807 shares in the last quarter. 89.42% of the stock is currently 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.