State Treasurer State of Michigan boosted its stake in shares of Illumina (NASDAQ:ILMN) by 0.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 135,260 shares of the life sciences company’s stock after purchasing an additional 500 shares during the period. State Treasurer State of Michigan owned 0.09% of Illumina worth $31,978,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of ILMN. Financial Gravity Companies Inc. acquired a new position in Illumina during the fourth quarter valued at approximately $106,000. Harvest Fund Management Co. Ltd acquired a new position in Illumina during the first quarter valued at approximately $113,000. SeaCrest Wealth Management LLC acquired a new position in Illumina during the fourth quarter valued at approximately $154,000. Captrust Financial Advisors acquired a new position in Illumina during the fourth quarter valued at approximately $165,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in Illumina by 113.9% during the fourth quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 770 shares of the life sciences company’s stock valued at $168,000 after purchasing an additional 410 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.
ILMN has been the subject of a number of recent analyst reports. Deutsche Bank set a $275.00 price objective on Illumina and gave the company a “buy” rating in a research report on Tuesday, January 16th. BTIG Research reaffirmed a “hold” rating on shares of Illumina in a research report on Tuesday, January 16th. Cowen raised their price objective on Illumina from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. First Analysis raised Illumina from an “equal weight” rating to an “overweight” rating and set a $277.00 price objective for the company in a research report on Wednesday, January 31st. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $265.00 price objective (up from $255.00) on shares of Illumina in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Illumina presently has a consensus rating of “Buy” and an average price target of $251.14.
Shares of NASDAQ ILMN opened at $266.99 on Monday. The company has a market cap of $39.25 billion, a PE ratio of 66.75, a PEG ratio of 2.74 and a beta of 0.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.41 and a current ratio of 2.71. Illumina has a 1-year low of $167.98 and a 1-year high of $267.32.
Illumina (NASDAQ:ILMN) last announced its earnings results on Tuesday, April 24th. The life sciences company reported $1.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.43. The company had revenue of $782.00 million for the quarter, compared to analyst estimates of $744.30 million. Illumina had a return on equity of 24.93% and a net margin of 19.31%. The firm’s quarterly revenue was up 30.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 earnings per share. equities research analysts predict that Illumina will post 4.87 earnings per share for the current year.
In other news, EVP Omead Ostadan sold 1,329 shares of the stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $222.66, for a total transaction of $295,915.14. Following the transaction, the executive vice president now owns 29,392 shares in the company, valued at $6,544,422.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director A Blaine Bowman sold 3,000 shares of the stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $230.13, for a total value of $690,390.00. Following the transaction, the director now owns 19,868 shares in the company, valued at approximately $4,572,222.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,462 shares of company stock worth $3,385,242. 0.54% of the stock is owned by corporate insiders.
Illumina, Inc provides sequencing and array-based solutions for genetic analysis. The company operates in two segments, Core Illumina and Consolidated VIEs. It offers sequencing by synthesis technology that provides researchers with various applications and the ability to sequence mammalian genomes; and arrays for a range of deoxyribonucleic acid and RNA analysis applications, including single nucleotide polymorphism genotyping, copy number variations analysis, gene expression analysis, and methylation analysis, as well as allow the detection of known genetic markers on a single array.
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