Illumina (NASDAQ:ILMN) Price Target Raised to $310.00

Illumina (NASDAQ:ILMN) had its price objective boosted by Royal Bank Of Canada from $230.00 to $310.00 in a research note issued to investors on Monday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the life sciences company’s stock.

Other research analysts also recently issued reports about the company. Leerink Partners lifted their price target on Illumina from $220.00 to $300.00 and gave the company an “outperform” rating in a report on Tuesday, September 29th. Stifel Nicolaus raised their price objective on Illumina from $155.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Citigroup lifted their target price on Illumina from $95.00 to $113.00 and gave the company a “sell” rating in a research note on Monday, August 3rd. Piper Sandler boosted their target price on shares of Illumina from $225.00 to $305.00 and gave the stock an “overweight” rating in a report on Monday, September 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Illumina in a research report on Monday, August 31st. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $222.19.

Illumina Trading Down 2.1%

NASDAQ:ILMN opened at $267.76 on Monday. The firm has a 50-day simple moving average of $224.53 and a 200-day simple moving average of $179.22. Illumina has a one year low of $88.00 and a one year high of $309.35. The firm has a market cap of $40.43 billion, a P/E ratio of 49.96, a P/E/G ratio of 3.88 and a beta of 1.41. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.80.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Thursday, July 30th. The life sciences company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.08. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Illumina had a net margin of 18.36% and a return on equity of 29.84%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $1.19 earnings per share. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. Equities analysts anticipate that Illumina will post 5.36 EPS for the current fiscal year.

Insider Activity

In other news, Director Keith Meister sold 457,858 shares of Illumina stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $200.10, for a total transaction of $91,617,385.80. Following the completion of the sale, the director directly owned 2,372,694 shares in the company, valued at approximately $474,776,069.40. The trade was a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 2,061,850 shares of company stock valued at $436,479,102 over the last three months. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Illumina

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ILMN. Fiduciary Financial Advisors acquired a new position in shares of Illumina in the second quarter valued at about $26,000. MCF Advisors LLC raised its stake in shares of Illumina by 172.4% in the second quarter. MCF Advisors LLC now owns 158 shares of the life sciences company’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Keating Financial Advisory Services Inc. acquired a new stake in shares of Illumina during the second quarter worth about $32,000. Rakuten Securities Inc. acquired a new stake in shares of Illumina during the second quarter worth about $33,000. Finally, WealthCollab LLC boosted its position in Illumina by 51.5% in the first quarter. WealthCollab LLC now owns 303 shares of the life sciences company’s stock valued at $37,000 after buying an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

About Illumina

Illumina, Inc develops and manufactures technologies used to analyze genetic variation and biological function. Its products are primarily based on next-generation sequencing, a method that enables researchers and clinicians to read DNA and RNA for applications including genomic research, disease studies, drug development and clinical testing.

The company offers sequencing instruments, consumables such as reagent kits and flow cells, and related software and informatics solutions. Illumina also provides services and support designed to help customers prepare samples, run sequencing workflows, interpret genomic data and integrate results into research or clinical operations.

Founded in 1998 and headquartered in San Diego, California, Illumina serves customers worldwide, including academic and government research institutions, pharmaceutical and biotechnology companies, hospitals, clinical laboratories and other healthcare organizations.