17,599 Shares in Illumina, Inc. (NASDAQ:ILMN) Purchased by Avanza Fonder AB

Avanza Fonder AB bought a new stake in shares of Illumina, Inc. (NASDAQ:ILMN) in the 4th quarter, Holdings Channel.com reports. The fund bought 17,599 shares of the life sciences company’s stock, valued at approximately $2,352,000.

Several other hedge funds have also recently added to or reduced their stakes in ILMN. Millennium Management LLC boosted its stake in shares of Illumina by 305.0% during the second quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock valued at $155,067,000 after acquiring an additional 1,118,747 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Illumina during the 2nd quarter worth about $77,628,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Illumina by 148.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,056,172 shares of the life sciences company’s stock worth $137,735,000 after buying an additional 631,294 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Illumina by 40.5% in the third quarter. Janus Henderson Group PLC now owns 2,168,057 shares of the life sciences company’s stock valued at $282,735,000 after buying an additional 625,245 shares during the last quarter. Finally, Iron Triangle Partners LP acquired a new position in shares of Illumina in the third quarter valued at approximately $57,380,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Stock Performance

Illumina stock opened at $136.67 on Friday. The firm has a market capitalization of $21.68 billion, a PE ratio of -13.72 and a beta of 1.11. Illumina, Inc. has a one year low of $100.08 and a one year high of $156.66. The stock’s 50 day moving average price is $139.60 and its 200 day moving average price is $133.37. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43.

Illumina (NASDAQ:ILMN) last posted its earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 earnings per share. As a group, sell-side analysts expect that Illumina, Inc. will post 4.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on ILMN. Citigroup downgraded Illumina from a “buy” rating to a “neutral” rating and cut their price target for the company from $190.00 to $165.00 in a report on Wednesday, December 11th. Robert W. Baird increased their target price on Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Piper Sandler lowered their price target on Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Morgan Stanley cut their price objective on shares of Illumina from $156.00 to $150.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, Stephens boosted their target price on shares of Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $165.63.

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.