Robert W. Baird Issues Positive Forecast for Illumina (NASDAQ:ILMN) Stock Price

Illumina (NASDAQ:ILMN) had its price target raised by research analysts at Robert W. Baird from $124.00 to $139.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the life sciences company’s stock. Robert W. Baird’s price objective indicates a potential downside of 10.30% from the company’s previous close.

A number of other analysts have also recently issued reports on the company. Citigroup increased their target price on Illumina from $155.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday. Daiwa Capital Markets upgraded shares of Illumina from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $120.00 to $154.00 in a report on Friday, August 16th. HSBC raised shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Thursday, October 17th. Daiwa America raised Illumina to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Piper Sandler reduced their price objective on Illumina from $200.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.18.

Illumina Stock Performance

Shares of ILMN stock opened at $154.96 on Wednesday. The stock has a market cap of $24.69 billion, a PE ratio of -15.56 and a beta of 1.13. The stock has a 50-day moving average of $136.87 and a 200-day moving average of $122.92. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86. Illumina has a one year low of $89.00 and a one year high of $156.66.

Illumina (NASDAQ:ILMN) last posted its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, topping the consensus estimate 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 negative net margin of 68.73% and a positive return on equity of 3.08%. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the business posted $0.33 earnings per share. As a group, sell-side analysts expect that Illumina will post 3.62 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ILMN. Industrial Alliance Investment Management Inc. acquired a new position in shares of Illumina in the second quarter valued at approximately $34,000. Versant Capital Management Inc increased its position in Illumina by 292.9% during the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after buying an additional 246 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in shares of Illumina by 65.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after acquiring an additional 168 shares during the period. Focused Wealth Management Inc bought a new position in Illumina during the third quarter worth about $63,000. Finally, Hollencrest Capital Management acquired a new stake in Illumina in the 3rd quarter worth about $63,000. 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.