Illumina (NASDAQ:ILMN) Downgraded by HSBC to “Hold”

HSBC lowered shares of Illumina (NASDAQ:ILMN) from a buy rating to a hold rating in a report issued on Friday, Marketbeat.com reports. The brokerage currently has $100.00 target price on the life sciences company’s stock.

Several other brokerages also recently weighed in on ILMN. JPMorgan Chase & Co. upped their target price on shares of Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Royal Bank of Canada decreased their target price on shares of Illumina from $250.00 to $247.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Barclays downgraded shares of Illumina from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $130.00 to $100.00 in a research note on Monday, February 10th. Piper Sandler increased their price objective on shares of Illumina from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, Guggenheim reduced their price objective on shares of Illumina from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $155.45.

Illumina Stock Performance

Shares of ILMN stock opened at $88.74 on Friday. Illumina has a one year low of $87.50 and a one year high of $156.66. 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 company has a 50 day moving average price of $123.38 and a 200 day moving average price of $132.96. The firm has a market capitalization of $14.06 billion, a price-to-earnings ratio of -11.55, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) 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%. Sell-side analysts anticipate that Illumina will post 4.51 EPS for the current year.

Institutional Inflows and Outflows

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

Illumina Company Profile

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.