Illumina (NASDAQ:ILMN) Stock Price Down 5.4% Following Analyst Downgrade

Illumina, Inc. (NASDAQ:ILMN)’s stock price fell 5.4% during trading on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $120.00 to $85.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Illumina traded as low as $79.00 and last traded at $75.32. 5,801 shares changed hands during mid-day trading, a decline of 100% from the average session volume of 2,268,578 shares. The stock had previously closed at $79.58.

Several other brokerages have also issued reports on ILMN. TD Cowen lowered shares of Illumina from a “buy” rating to a “hold” rating and reduced their price objective for the company from $177.00 to $140.00 in a report on Friday, February 7th. Citigroup decreased their price objective on shares of Illumina from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Barclays cut their target price on Illumina from $100.00 to $77.00 and set an “underweight” rating on the stock in a research report on Thursday, April 10th. Royal Bank of Canada lowered their price target on Illumina from $128.00 to $112.00 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. Finally, Stephens reiterated an “overweight” rating and issued a $156.00 price objective on shares of Illumina in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $133.00.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ILMN. Golden State Wealth Management LLC acquired a new position in Illumina in the fourth quarter valued at $32,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Illumina in the 4th quarter valued at about $40,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Illumina in the 4th quarter valued at about $45,000. Assetmark Inc. grew its stake in Illumina by 954.8% during the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock worth $44,000 after buying an additional 296 shares during the last quarter. Finally, Lee Danner & Bass Inc. acquired a new position in Illumina during the fourth quarter worth approximately $48,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Stock Performance

The company has a market cap of $11.99 billion, a PE ratio of -9.86, a PEG ratio of 1.60 and a beta of 1.35. The stock has a 50 day simple moving average of $78.94 and a two-hundred day simple moving average of $113.32. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. Illumina’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the firm posted $0.98 EPS. Equities analysts predict that Illumina, Inc. will post 4.51 EPS for the current year.

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.