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Analysts Remain Bullish on Illumina Stock

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Nov. 30 2018, Updated 12:02 p.m. ET

Analysts’ recommendations

In November, of the 19 analysts covering Illumina (ILMN), 14 have given it “buy” or higher ratings, and five have given it “hold” ratings.

The mean rating for Illumina stock is 1.95, and its target price is $359.75, implying a potential upside of 7.6% over its closing price of $334.33 on November 28.

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Peers’ ratings

In comparison, Danaher (DHR), Thermo Fisher Scientific (TMO), and Waters Corporation (WAT) have mean ratings of 1.83, 1.76 and 2.81, respectively, and target prices of $116.2, $266.07, and $193.27, respectively.

Illumina’s current ratio, a metric of how effectively a company can meet its short-term obligations, stands at 2.50. In comparison, the current ratios of Danaher, Thermo Fisher Scientific, and Waters stand at 1.50, 1.80, and 6.60, respectively.

Share repurchases

In May, the company authorized a share repurchase of $150.0 million, and it repurchased 300,000 common shares for $103.0 million during the third quarter.

Earlier, in July 2016, Illumina adopted a share repurchase program of $250.0 million under which it repurchased ~600,000 shares for $101.0 million in 2017. In May 2017, it authorized a share repurchase program of $250 million and repurchased ~800,000 shares for $150 million. Under these programs, authorizations to repurchase common shares totaling $147.0 million remain.

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