686,330 Shares in Illumina, Inc. (NASDAQ:ILMN) Bought by ARK Investment Management LLC

ARK Investment Management LLC bought a new position in shares of Illumina, Inc. (NASDAQ:ILMN) during the 4th quarter, HoldingsChannel.com reports. The fund bought 686,330 shares of the life sciences company’s stock, valued at approximately $91,714,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bleakley Financial Group LLC bought a new position in Illumina during the fourth quarter worth $751,000. Zacks Investment Management bought a new position in Illumina during the third quarter worth $2,924,000. Van ECK Associates Corp boosted its stake in Illumina by 17.5% during the fourth quarter. Van ECK Associates Corp now owns 152,265 shares of the life sciences company’s stock worth $20,347,000 after acquiring an additional 22,718 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in Illumina during the fourth quarter worth $1,464,000. Finally, Allworth Financial LP boosted its stake in Illumina by 720.7% during the fourth quarter. Allworth Financial LP now owns 7,132 shares of the life sciences company’s stock worth $1,001,000 after acquiring an additional 6,263 shares in the last quarter. 89.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

ILMN has been the topic of several research reports. UBS Group upped their price objective on shares of Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Citigroup downgraded shares of Illumina from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $190.00 to $165.00 in a report on Wednesday, December 11th. Royal Bank of Canada lowered their price objective on shares of Illumina from $250.00 to $247.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Stephens upped their price objective on shares of Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Finally, Robert W. Baird upped their price objective on shares of Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.45.

Illumina Price Performance

ILMN opened at $95.73 on Wednesday. The firm has a market cap of $15.16 billion, a P/E ratio of -12.46, a PEG ratio of 1.60 and a beta of 1.10. The firm has a 50-day moving average of $126.02 and a 200 day moving average of $133.80. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. Illumina, Inc. has a fifty-two week low of $91.92 and a fifty-two week high of $156.66.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. On average, research analysts expect that Illumina, Inc. will post 4.51 EPS for the current year.

About Illumina

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.