Illumina (NASDAQ:ILMN) Shares Gap Up to $200.53

Posted by on Jun 12th, 2023

Illumina, Inc. (NASDAQ:ILMN – Get Rating)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $200.53, but opened at $208.00. Illumina shares last traded at $204.40, with a volume of 852,454 shares.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Illumina in a report on Thursday, May 18th. They set a “hold” rating for the company. Stifel Nicolaus raised their target price on shares of Illumina from $235.00 to $265.00 in a report on Wednesday, April 26th. Royal Bank of Canada raised their target price on shares of Illumina from $300.00 to $337.00 and gave the stock an “outperform” rating in a report on Friday, April 14th. Robert W. Baird raised their price objective on shares of Illumina from $224.00 to $229.00 in a research note on Wednesday, April 26th. Finally, UBS Group decreased their price objective on shares of Illumina from $255.00 to $240.00 and set a “neutral” rating for the company in a research note on Tuesday, February 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $253.70.

Illumina Stock Up 3.2 %

The firm has a market cap of $32.72 billion, a P/E ratio of -7.27, a P/E/G ratio of 6.44 and a beta of 1.17. The business’s fifty day moving average price is $211.05 and its two-hundred day moving average price is $209.56. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.22.

Illumina (NASDAQ:ILMN – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The life sciences company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.06. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. Illumina had a negative net margin of 100.92% and a positive return on equity of 2.26%. Illumina’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.07 EPS. As a group, equities research analysts anticipate that Illumina, Inc. will post 1.4 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ILMN. Acadian Asset Management LLC raised its holdings in shares of Illumina by 312.5% during the 1st quarter. Acadian Asset Management LLC now owns 2,013 shares of the life sciences company’s stock valued at $702,000 after purchasing an additional 1,525 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Illumina by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 237,118 shares of the life sciences company’s stock worth $82,853,000 after acquiring an additional 7,114 shares during the period. Dakota Wealth Management raised its holdings in Illumina by 13.8% in the 1st quarter. Dakota Wealth Management now owns 826 shares of the life sciences company’s stock worth $288,000 after acquiring an additional 100 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Illumina by 16.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 803 shares of the life sciences company’s stock worth $281,000 after acquiring an additional 116 shares during the period. Finally, Baird Financial Group Inc. raised its holdings in Illumina by 10.2% in the 1st quarter. Baird Financial Group Inc. now owns 48,943 shares of the life sciences company’s stock worth $17,108,000 after acquiring an additional 4,548 shares during the period. Institutional investors own 87.97% of the company’s stock.

About Illumina

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Illumina, Inc develops, manufactures, and markets life science tools and integrated systems for large-scale analysis of genetic variation and function. 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; and whole-genome sequencing kits, which sequence entire genomes of any size and complexity, and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.

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