Morgan Stanley Boosts Illumina (ILMN) Price Target to $157.00

Illumina (NASDAQ:ILMN) had its price target hoisted by stock analysts at Morgan Stanley from $145.00 to $157.00 in a note issued to investors on Wednesday. The firm presently has an “underweight” rating on the life sciences company’s stock. Morgan Stanley’s price target would indicate a potential downside of 32.51% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. First Analysis upgraded Illumina from an “equal weight” rating to an “overweight” rating and set a $277.00 price target for the company in a report on Wednesday. Canaccord Genuity reiterated a “buy” rating and set a $265.00 price target (up from $255.00) on shares of Illumina in a report on Wednesday. Leerink Swann increased their price target on Illumina from $250.00 to $276.00 and gave the stock an “outperform” rating in a report on Wednesday. Wells Fargo & Co reiterated a “market perform” rating and set a $205.00 price target (up from $200.00) on shares of Illumina in a report on Wednesday, October 25th. Finally, Zacks Investment Research upgraded Illumina from a “hold” rating to a “buy” rating and set a $252.00 price target for the company in a report on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the stock. Illumina currently has an average rating of “Buy” and an average target price of $237.83.

Illumina (ILMN) traded down $8.54 during midday trading on Wednesday, hitting $232.64. The stock had a trading volume of 1,760,000 shares, compared to its average volume of 900,391. The stock has a market cap of $33,970.00, a PE ratio of 47.19, a PEG ratio of 3.24 and a beta of 0.79. The company has a current ratio of 4.22, a quick ratio of 3.73 and a debt-to-equity ratio of 0.41. Illumina has a fifty-two week low of $156.50 and a fifty-two week high of $248.97.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Tuesday, January 30th. The life sciences company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.22. The business had revenue of $778.00 million during the quarter, compared to analysts’ expectations of $752.04 million. Illumina had a return on equity of 19.42% and a net margin of 30.34%. The company’s revenue was up 25.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.85 EPS. analysts expect that Illumina will post 3.8 EPS for the current fiscal year.

In other Illumina news, SVP Charles Dadswell sold 1,609 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $207.88, for a total value of $334,478.92. Following the sale, the senior vice president now owns 7,217 shares of the company’s stock, valued at approximately $1,500,269.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert S. Epstein sold 1,250 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $244.18, for a total value of $305,225.00. Following the completion of the sale, the director now directly owns 8,588 shares in the company, valued at approximately $2,097,017.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,921 shares of company stock worth $29,309,093. 0.89% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Dupont Capital Management Corp acquired a new stake in Illumina in the 3rd quarter valued at about $153,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in Illumina by 113.9% in the 4th quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 770 shares of the life sciences company’s stock valued at $168,000 after purchasing an additional 410 shares in the last quarter. Advisory Services Network LLC raised its position in Illumina by 13.0% in the 2nd quarter. Advisory Services Network LLC now owns 772 shares of the life sciences company’s stock valued at $134,000 after purchasing an additional 89 shares in the last quarter. Riverbridge Partners LLC acquired a new stake in Illumina in the 4th quarter valued at about $202,000. Finally, Outfitter Advisors LTD. acquired a new stake in Illumina in the 4th quarter valued at about $205,000. 91.71% of the stock is currently owned by institutional investors.

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Illumina Company Profile

Illumina, Inc (Illumina) is a provider of sequencing- and array-based solutions for genetic analysis. The Company operates through two segments: Core Illumina and the consolidated variable interest entities (VIEs), which include the activities of GRAIL, Inc (GRAIL) and Helix Holdings I, LLC (Helix). Core Illumina consists of its core operations.

Analyst Recommendations for Illumina (NASDAQ:ILMN)