Illumina (NASDAQ:ILMN) Earns Equal Weight Rating from Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of Illumina (NASDAQ:ILMN) in a report published on Tuesday, MarketBeat.com reports. Morgan Stanley currently has a $156.00 price target on the life sciences company’s stock.

A number of other research analysts have also recently issued reports on the company. Barclays lifted their target price on Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group upped their price target on shares of Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Scotiabank cut their price objective on Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 15th. Robert W. Baird boosted their price target on Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, Daiwa America upgraded shares of Illumina to a “strong-buy” rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.00.

Illumina Stock Down 2.6 %

Shares of Illumina stock opened at $147.62 on Tuesday. The firm’s 50-day moving average price is $138.50 and its two-hundred day moving average price is $123.77. 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 has a 12-month low of $92.26 and a 12-month high of $156.66.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. As a group, sell-side analysts predict that Illumina will post 4.11 earnings per share for the current year.

Institutional Investors Weigh In On Illumina

Hedge funds have recently added to or reduced their stakes in the business. Primecap Management Co. CA boosted its holdings in shares of Illumina by 462.5% during the 2nd quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock worth $253,514,000 after buying an additional 1,997,010 shares in the last quarter. Millennium Management LLC boosted its stake in Illumina by 305.0% during the second quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock worth $155,067,000 after acquiring an additional 1,118,747 shares in the last quarter. Capital World Investors boosted its stake in Illumina by 41.1% during the first quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company’s stock worth $378,111,000 after acquiring an additional 801,814 shares in the last quarter. Marshall Wace LLP acquired a new stake in Illumina in the second quarter worth $77,628,000. Finally, Swedbank AB bought a new stake in Illumina in the first quarter valued at $99,682,000. 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.