Illumina (NASDAQ:ILMN) Trading Down 4.8% – Here’s What Happened

Illumina, Inc. (NASDAQ:ILMN) shares traded down 4.8% on Thursday . The company traded as low as $131.38 and last traded at $133.60. 562,098 shares traded hands during trading, a decline of 64% from the average session volume of 1,570,429 shares. The stock had previously closed at $140.36.

Analyst Upgrades and Downgrades

ILMN has been the topic of several analyst reports. Robert W. Baird boosted their price target on shares of Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Stephens increased their price target on shares of Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Leerink Partners lifted their price objective on Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Royal Bank of Canada upped their price objective on Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research report on Thursday, October 17th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued 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 an average price target of $165.63.

Illumina Price Performance

The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $21.24 billion, a price-to-earnings ratio of -13.45 and a beta of 1.11. The company has a 50 day moving average price of $139.06 and a 200 day moving average price of $134.26.

Illumina (NASDAQ:ILMN) last issued its earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.88 by $0.26. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the company posted $0.33 EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, equities research analysts forecast that Illumina, Inc. will post 4.13 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ILMN. Legacy Trust acquired a new stake in shares of Illumina during the fourth quarter worth about $1,693,000. Smith Group Asset Management LLC bought a new position in Illumina in the fourth quarter valued at approximately $3,341,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Illumina by 62.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 448,617 shares of the life sciences company’s stock valued at $59,949,000 after buying an additional 172,111 shares during the period. Nilsine Partners LLC increased its position in shares of Illumina by 6.5% during the fourth quarter. Nilsine Partners LLC now owns 3,489 shares of the life sciences company’s stock worth $466,000 after acquiring an additional 213 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Illumina by 2.1% during the fourth quarter. KBC Group NV now owns 43,399 shares of the life sciences company’s stock worth $5,799,000 after acquiring an additional 883 shares during the period. 89.42% of the stock is currently owned by institutional investors.

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.