Illumina (NASDAQ:ILMN) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Illumina (NASDAQ:ILMN) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $105.00 to $130.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the life sciences company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 1.19% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. Royal Bank Of Canada set a $124.00 target price on Illumina in a research report on Tuesday, September 2nd. Wall Street Zen upgraded Illumina from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. TD Cowen upped their price objective on Illumina from $110.00 to $115.00 and gave the stock a “hold” rating in a report on Friday, October 31st. Cowen reiterated a “hold” rating on shares of Illumina in a research report on Friday, October 31st. Finally, Evercore ISI raised their target price on Illumina from $132.00 to $142.00 and gave the company an “outperform” rating in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $117.19.

Illumina Stock Performance

NASDAQ ILMN opened at $131.56 on Monday. The company has a fifty day moving average of $116.09 and a two-hundred day moving average of $103.59. The company has a market capitalization of $20.10 billion, a PE ratio of 29.50, a P/E/G ratio of 2.41 and a beta of 1.44. Illumina has a 1 year low of $68.70 and a 1 year high of $153.06. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.43 and a quick ratio of 1.12.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Thursday, October 30th. The life sciences company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.16 by $0.18. Illumina had a net margin of 16.40% and a return on equity of 29.21%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. Illumina’s revenue for the quarter was up .4% on a year-over-year basis. Illumina has set its FY 2025 guidance at 4.650-4.750 EPS. As a group, analysts expect that Illumina will post 4.51 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Scott Gottlieb purchased 500 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were bought at an average price of $122.13 per share, for a total transaction of $61,065.00. Following the acquisition, the director directly owned 12,523 shares in the company, valued at $1,529,433.99. This trade represents a 4.16% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Scott M. Davies sold 323 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $136.09, for a total value of $43,957.07. Following the sale, the insider owned 17,887 shares of the company’s stock, valued at $2,434,241.83. This represents a 1.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.17% of the stock is owned by insiders.

Hedge Funds Weigh In On Illumina

A number of institutional investors have recently added to or reduced their stakes in the company. Capital World Investors increased its holdings in shares of Illumina by 20.0% in the 3rd quarter. Capital World Investors now owns 19,976,850 shares of the life sciences company’s stock valued at $1,897,178,000 after acquiring an additional 3,331,542 shares during the last quarter. Corvex Management LP lifted its holdings in Illumina by 125.2% in the first quarter. Corvex Management LP now owns 3,829,608 shares of the life sciences company’s stock worth $303,841,000 after purchasing an additional 2,129,449 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Illumina by 361.7% in the first quarter. AQR Capital Management LLC now owns 2,121,585 shares of the life sciences company’s stock valued at $165,484,000 after buying an additional 1,662,093 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Illumina by 11,714.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,161,882 shares of the life sciences company’s stock worth $92,184,000 after buying an additional 1,152,048 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. grew its holdings in shares of Illumina by 140.1% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 1,428,692 shares of the life sciences company’s stock worth $136,312,000 after acquiring an additional 833,750 shares during the last quarter. 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.