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

Avanza Fonder AB purchased a new stake in Illumina, Inc. (NASDAQ:ILMN) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 17,599 shares of the life sciences company’s stock, valued at approximately $2,352,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ILMN. Wealthcare Advisory Partners LLC lifted its stake in Illumina by 11.5% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 4,214 shares of the life sciences company’s stock worth $563,000 after acquiring an additional 436 shares during the last quarter. Procyon Advisors LLC raised its holdings in shares of Illumina by 2.3% in the 4th quarter. Procyon Advisors LLC now owns 14,453 shares of the life sciences company’s stock valued at $1,931,000 after purchasing an additional 319 shares in the last quarter. Gateway Investment Advisers LLC lifted its position in shares of Illumina by 8.1% during the 4th quarter. Gateway Investment Advisers LLC now owns 29,463 shares of the life sciences company’s stock worth $3,937,000 after purchasing an additional 2,196 shares during the last quarter. Beech Hill Advisors Inc. grew its stake in shares of Illumina by 86.4% during the fourth quarter. Beech Hill Advisors Inc. now owns 14,349 shares of the life sciences company’s stock worth $1,917,000 after purchasing an additional 6,650 shares in the last quarter. Finally, USA Financial Formulas purchased a new position in Illumina in the fourth quarter valued at $1,448,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Barclays lifted their price target on Illumina from $135.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Morgan Stanley lowered their price target on Illumina from $156.00 to $150.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Royal Bank of Canada raised their price objective on shares of Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. TD Cowen upped their target price on shares of Illumina from $166.00 to $177.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Stephens lifted their price target on shares of Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.63.

Illumina Price Performance

Shares of NASDAQ ILMN opened at $136.67 on Friday. The stock has a fifty day moving average price of $139.60 and a 200 day moving average price of $133.37. Illumina, Inc. has a 1-year low of $100.08 and a 1-year high of $156.66. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. The company has a market cap of $21.68 billion, a PE ratio of -13.72 and a beta of 1.11.

Illumina (NASDAQ:ILMN) last released its earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.88 by $0.26. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the business earned $0.33 EPS. The business’s revenue was down 3.5% on a year-over-year basis. Sell-side analysts forecast that Illumina, Inc. will post 4.11 EPS 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.