Illumina, Inc. (NASDAQ:ILMN) Stock Position Boosted by Zacks Investment Management

Zacks Investment Management grew its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,210 shares of the life sciences company’s stock after buying an additional 786 shares during the quarter. Zacks Investment Management’s holdings in Illumina were worth $3,102,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank bought a new stake in shares of Illumina in the 4th quarter worth $228,714,000. Bessemer Group Inc. raised its position in Illumina by 32,837.5% in the fourth quarter. Bessemer Group Inc. now owns 1,348,131 shares of the life sciences company’s stock worth $180,152,000 after acquiring an additional 1,344,038 shares in the last quarter. WCM Investment Management LLC boosted its position 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 valued at $551,625,000 after purchasing an additional 867,673 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in shares of 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 worth $158,011,000 after purchasing an additional 840,423 shares during the last quarter. Finally, ARK Investment Management LLC bought a new stake in shares of Illumina in the 4th quarter worth approximately $91,714,000. 89.42% of the stock is currently owned by institutional investors.

Illumina Price Performance

NASDAQ ILMN opened at $71.21 on Friday. The company has a 50 day moving average price of $85.20 and a two-hundred day moving average price of $120.80. Illumina, Inc. has a 12-month low of $68.70 and a 12-month high of $156.66. The stock has a market capitalization of $11.28 billion, a PE ratio of -9.27, a price-to-earnings-growth ratio of 1.60 and a beta of 1.38. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, February 6th. The life sciences company reported $0.86 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%. As a group, equities analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ILMN. Stephens restated an “overweight” rating and issued a $156.00 price target on shares of Illumina in a research report on Tuesday, March 11th. Piper Sandler lifted their target price on Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. HSBC downgraded Illumina from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a report on Friday, February 28th. Royal Bank of Canada cut their price objective on Illumina from $128.00 to $112.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. Finally, Morgan Stanley decreased their target price on shares of Illumina from $150.00 to $136.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $138.70.

Illumina Company 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.