Geode Capital Management LLC Buys 5,833 Shares of Illumina, Inc. (NASDAQ:ILMN)

Geode Capital Management LLC increased its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,733,660 shares of the life sciences company’s stock after buying an additional 5,833 shares during the quarter. Geode Capital Management LLC’s holdings in Illumina were worth $364,670,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. WCM Investment Management LLC grew its holdings in shares of Illumina by 26.6% during the 4th quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company’s stock worth $551,625,000 after purchasing an additional 867,673 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Illumina by 0.8% during the fourth quarter. Bank of New York Mellon Corp now owns 3,402,057 shares of the life sciences company’s stock worth $454,617,000 after purchasing an additional 27,618 shares during the period. Norges Bank acquired a new stake in Illumina during the fourth quarter worth about $228,714,000. Pictet Asset Management Holding SA increased its holdings in Illumina by 245.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,182,454 shares of the life sciences company’s stock valued at $158,011,000 after buying an additional 840,423 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Illumina by 116.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 865,546 shares of the life sciences company’s stock valued at $115,663,000 after buying an additional 466,519 shares in the last quarter. Institutional investors own 89.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ILMN shares. Robert W. Baird decreased their price objective on shares of Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Piper Sandler lifted their price target on Illumina from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. HSBC cut 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. Barclays reaffirmed an “underweight” rating on shares of Illumina in a research note on Tuesday, March 11th. Finally, Morgan Stanley lowered their target price on Illumina from $150.00 to $136.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.90.

Illumina Trading Down 3.0 %

Shares of ILMN stock opened at $74.16 on Friday. The stock has a 50-day moving average of $96.82 and a 200-day moving average of $125.10. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. The stock has a market cap of $11.75 billion, a price-to-earnings ratio of -9.66, a PEG ratio of 1.60 and a beta of 1.38. Illumina, Inc. has a 1-year low of $70.64 and a 1-year high of $156.66.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) 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%. On average, equities research analysts forecast that Illumina, Inc. will post 4.51 earnings per share for the current year.

Illumina Profile

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.