Hsbc Global Res Upgrades Illumina (NASDAQ:ILMN) to “Strong-Buy”

by · The Markets Daily

Illumina (NASDAQ:ILMN – Get Free Report) was upgraded by stock analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday, Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. StockNews.com started coverage on shares of Illumina in a research note on Thursday, August 29th. They set a “buy” rating for the company. Daiwa Capital Markets upgraded Illumina from a “neutral” rating to a “buy” rating and raised their price objective for the company from $120.00 to $154.00 in a research report on Friday, August 16th. Argus raised Illumina from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Wednesday, August 28th. Scotiabank dropped their price target on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 15th. Finally, Robert W. Baird lifted their price objective on Illumina from $119.00 to $124.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $154.33.

Get Our Latest Stock Analysis on ILMN

Illumina Stock Performance

Shares of NASDAQ ILMN opened at $143.52 on Thursday. The stock has a market cap of $22.86 billion, a PE ratio of -17.61 and a beta of 1.15. Illumina has a 1 year low of $89.00 and a 1 year high of $151.40. The firm has a fifty day moving average price of $132.28 and a 200-day moving average price of $121.11. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86.

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

Institutional Investors Weigh In On Illumina

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bouvel Investment Partners LLC increased its position in shares of Illumina by 1.3% during the first quarter. Bouvel Investment Partners LLC now owns 6,547 shares of the life sciences company’s stock worth $899,000 after acquiring an additional 84 shares during the period. UMB Bank n.a. raised its position in Illumina by 7.0% during the 2nd quarter. UMB Bank n.a. now owns 1,341 shares of the life sciences company’s stock valued at $140,000 after purchasing an additional 88 shares in the last quarter. Gulf International Bank UK Ltd raised its position in Illumina by 0.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 13,562 shares of the life sciences company’s stock valued at $1,862,000 after purchasing an additional 98 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of Illumina by 0.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 32,818 shares of the life sciences company’s stock worth $4,507,000 after buying an additional 114 shares during the period. Finally, Institute for Wealth Management LLC. grew its position in shares of Illumina by 4.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 2,728 shares of the life sciences company’s stock worth $285,000 after buying an additional 119 shares in the last quarter. Institutional investors own 89.42% of the company’s stock.

About Illumina

(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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