Illumina (NASDAQ:ILMN) Stock Price Expected to Rise, TD Cowen Analyst Says

Illumina (NASDAQ:ILMN) had its target price hoisted by research analysts at TD Cowen from $115.00 to $140.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the life sciences company’s stock. TD Cowen’s target price points to a potential downside of 4.00% from the company’s previous close.

Several other analysts have also commented on the stock. Barclays lifted their price objective on shares of Illumina from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Monday, December 15th. Canaccord Genuity Group lifted their price target on shares of Illumina from $112.00 to $130.00 and gave the stock a “hold” rating in a report on Monday, December 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Illumina in a report on Monday, December 29th. Wall Street Zen lowered Illumina from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Finally, Guggenheim boosted their target price on Illumina from $114.00 to $144.00 and gave the company a “buy” rating in a research note on Monday. Five research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $122.56.

Illumina Stock Performance

Shares of ILMN opened at $145.83 on Wednesday. The stock has a 50 day moving average of $129.66 and a 200 day moving average of $109.29. The company has a market capitalization of $22.28 billion, a price-to-earnings ratio of 32.70, a PEG ratio of 2.51 and a beta of 1.41. Illumina has a 12 month low of $68.70 and a 12 month high of $153.06. The company has a current ratio of 1.43, a quick ratio of 1.12 and a debt-to-equity ratio of 0.42.

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

Insider Buying and Selling at Illumina

In other Illumina news, insider Scott M. Davies sold 323 shares of the firm’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 completion of the transaction, the insider owned 17,887 shares in the company, valued at $2,434,241.83. This trade represents a 1.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott Gottlieb purchased 500 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director owned 12,523 shares of the company’s stock, valued at approximately $1,529,433.99. This trade represents a 4.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Illumina

Hedge funds have recently bought and sold shares of the company. True Wealth Design LLC boosted its holdings in Illumina by 21.8% in the 4th quarter. True Wealth Design LLC now owns 2,272 shares of the life sciences company’s stock valued at $298,000 after purchasing an additional 407 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Illumina by 15.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 105,237 shares of the life sciences company’s stock worth $13,803,000 after buying an additional 14,072 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its stake in Illumina by 75.8% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 11,296 shares of the life sciences company’s stock valued at $1,597,000 after buying an additional 4,871 shares during the period. Grove Bank & Trust grew its position in Illumina by 1,990.5% during the fourth quarter. Grove Bank & Trust now owns 1,756 shares of the life sciences company’s stock worth $230,000 after buying an additional 1,672 shares in the last quarter. Finally, Wedmont Private Capital increased its stake in Illumina by 7.8% in the 4th quarter. Wedmont Private Capital now owns 2,497 shares of the life sciences company’s stock worth $328,000 after acquiring an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

About Illumina

Illumina, Inc (NASDAQ: ILMN) is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company’s product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.