Illumina (NASDAQ:ILMN) Reaches New 52-Week Low – Here’s Why

Shares of Illumina, Inc. (NASDAQ:ILMN) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $92.26 and last traded at $92.87, with a volume of 574615 shares traded. The stock had previously closed at $94.20.

Analyst Ratings Changes

ILMN has been the subject of several research analyst reports. Piper Sandler upped their price objective on shares of Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Royal Bank of Canada decreased their price objective on shares of Illumina from $250.00 to $247.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Morgan Stanley lowered their price target on Illumina from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. JPMorgan Chase & Co. upped their price objective on Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Robert W. Baird increased their price objective on Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Illumina presently has a consensus rating of “Moderate Buy” and an average target price of $159.45.

Illumina Price Performance

The company has a market capitalization of $15.16 billion, a PE ratio of -12.46, a P/E/G ratio of 1.60 and a beta of 1.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. The stock has a 50 day moving average price of $126.02 and a two-hundred day moving average price of $133.80.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. Equities analysts forecast that Illumina, Inc. will post 4.51 earnings per share for the current year.

Institutional Investors Weigh In On Illumina

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc boosted its stake in Illumina by 153.7% during the 4th quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock valued at $32,000 after purchasing an additional 146 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of Illumina during the fourth quarter worth approximately $32,000. Fourth Dimension Wealth LLC bought a new stake in shares of Illumina in the fourth quarter valued at approximately $40,000. Assetmark Inc. boosted its position in shares of Illumina by 954.8% in the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock valued at $44,000 after acquiring an additional 296 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Illumina in the fourth quarter worth $45,000. 89.42% of the stock is owned by institutional investors and hedge funds.

About Illumina

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.