Allstate Corp Invests $631,000 in Illumina, Inc. (NASDAQ:ILMN)

Allstate Corp bought a new stake in shares of Illumina, Inc. (NASDAQ:ILMN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,719 shares of the life sciences company’s stock, valued at approximately $631,000.

Several other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in shares of Illumina during the fourth quarter worth $32,000. Versant Capital Management Inc increased its position in Illumina by 153.7% during the 4th quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock valued at $32,000 after buying an additional 146 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Illumina in the fourth quarter valued at about $45,000. Assetmark Inc. boosted its holdings in Illumina by 954.8% in the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock worth $44,000 after acquiring an additional 296 shares in the last quarter. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Illumina during the fourth quarter worth about $48,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Morgan Stanley decreased their price objective on shares of Illumina from $150.00 to $136.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. HSBC cut shares of Illumina from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a report on Friday, February 28th. Royal Bank of Canada cut their target price on Illumina from $247.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 12th. TD Cowen cut Illumina from a “buy” rating to a “hold” rating and lowered their price target for the stock from $177.00 to $140.00 in a research report on Friday, February 7th. Finally, Hsbc Global Res lowered Illumina from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.90.

Illumina Stock Performance

NASDAQ ILMN opened at $78.39 on Wednesday. The stock has a market capitalization of $12.42 billion, a price-to-earnings ratio of -10.21, a PEG ratio of 1.60 and a beta of 1.17. The stock has a 50-day moving average of $100.39 and a 200 day moving average of $126.13. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. Illumina, Inc. has a twelve month low of $77.54 and a twelve month high of $156.66.

Illumina (NASDAQ:ILMN) last announced its 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 positive return on equity of 13.37% and a negative net margin of 27.95%. Sell-side analysts anticipate that Illumina, Inc. will post 4.51 EPS for the current fiscal 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.