Illumina (NASDAQ:ILMN) Sets New 52-Week High – Should You Buy?

by · The Markets Daily

Illumina, Inc. (NASDAQ:ILMN – Get Free Report)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $148.59 and last traded at $148.52, with a volume of 238752 shares. The stock had previously closed at $145.54.

Analyst Upgrades and Downgrades

ILMN has been the subject of a number of analyst reports. UBS Group lifted their price objective on Illumina from $131.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $252.00 target price on shares of Illumina in a report on Thursday. Citigroup lifted their target price on Illumina from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Robert W. Baird lifted their target price on Illumina from $119.00 to $124.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Daiwa Capital Markets upgraded Illumina from a “neutral” rating to a “buy” rating and boosted their price target for the company from $120.00 to $154.00 in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $150.05.

Check Out Our Latest Report on ILMN

Illumina Stock Up 2.6 %

The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86. The company has a market cap of $23.79 billion, a price-to-earnings ratio of -17.86 and a beta of 1.15. The firm has a 50-day moving average price of $130.19 and a 200 day moving average price of $120.63.

Illumina (NASDAQ:ILMN – Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.24. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 earnings per share. Sell-side analysts predict that Illumina, Inc. will post 3.63 EPS for the current year.

Institutional Investors Weigh In On Illumina

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Illumina by 0.4% in the first quarter. Vanguard Group Inc. now owns 18,245,041 shares of the life sciences company’s stock valued at $2,505,409,000 after buying an additional 66,528 shares during the period. Baillie Gifford & Co. lifted its stake in Illumina by 8.7% during the first quarter. Baillie Gifford & Co. now owns 5,736,418 shares of the life sciences company’s stock worth $787,725,000 after purchasing an additional 460,649 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Illumina by 7.2% during the second quarter. Bank of New York Mellon Corp now owns 3,039,538 shares of the life sciences company’s stock worth $317,267,000 after purchasing an additional 204,043 shares during the last quarter. Capital World Investors lifted its stake in Illumina by 41.1% during the first quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company’s stock worth $378,111,000 after purchasing an additional 801,814 shares during the last quarter. Finally, Primecap Management Co. CA lifted its stake in Illumina by 462.5% during the second quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock worth $253,514,000 after purchasing an additional 1,997,010 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors.

Illumina Company Profile

(Get Free Report)

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.

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