Morgan Stanley Cuts Illumina (NASDAQ:ILMN) Price Target to $150.00

Illumina (NASDAQ:ILMN) had its target price reduced by Morgan Stanley from $156.00 to $150.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the life sciences company’s stock. Morgan Stanley’s price target points to a potential upside of 4.13% from the company’s previous close.

ILMN has been the topic of a number of other research reports. HSBC upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Thursday, October 17th. Citigroup lowered shares of Illumina from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $190.00 to $165.00 in a research report on Wednesday, December 11th. Leerink Partners lifted their price target on shares of Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Stephens lifted their price target on shares of Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Finally, Barclays lifted their price target on shares of Illumina from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Eight research 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. According to MarketBeat, Illumina currently has a consensus rating of “Moderate Buy” and an average target price of $165.63.

Illumina Price Performance

Shares of NASDAQ ILMN traded up $7.36 during mid-day trading on Monday, reaching $144.05. 1,274,905 shares of the company traded hands, compared to its average volume of 1,409,781. Illumina has a fifty-two week low of $100.08 and a fifty-two week high of $156.66. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. The firm has a market cap of $22.85 billion, a PE ratio of -14.46 and a beta of 1.11. The stock has a fifty day simple moving average of $141.11 and a 200-day simple moving average of $132.61.

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

Institutional Investors Weigh In On Illumina

Institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc lifted its stake in shares of Illumina by 153.7% in the 4th quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock valued at $32,000 after purchasing an additional 146 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in shares of Illumina by 58.5% in the 3rd quarter. TD Private Client Wealth LLC now owns 382 shares of the life sciences company’s stock valued at $50,000 after purchasing an additional 141 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of Illumina by 65.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after purchasing an additional 168 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Illumina in the 2nd quarter worth $61,000. Finally, Private Trust Co. NA lifted its position in Illumina by 81.2% during the 3rd quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock worth $62,000 after acquiring an additional 212 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.