Allstate Corp Buys New Holdings in Illumina, Inc. (NASDAQ:ILMN)

Allstate Corp purchased a new position in Illumina, Inc. (NASDAQ:ILMN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,719 shares of the life sciences company’s stock, valued at approximately $631,000.

Other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in shares of Illumina during the fourth quarter worth $32,000. Versant Capital Management Inc boosted its holdings in shares of Illumina by 153.7% during the 4th quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock valued at $32,000 after purchasing an additional 146 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Illumina during the 4th quarter valued at about $45,000. Assetmark Inc. grew its position in shares of Illumina by 954.8% during the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock valued at $44,000 after purchasing an additional 296 shares in the last quarter. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Illumina in the fourth quarter worth about $48,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Stock Down 1.2 %

Shares of Illumina stock opened at $78.39 on Wednesday. Illumina, Inc. has a 1 year low of $77.54 and a 1 year high of $156.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42. The stock has a market cap of $12.42 billion, a price-to-earnings ratio of -10.21, a PEG ratio of 1.60 and a beta of 1.17. The firm’s 50-day moving average is $100.39 and its two-hundred day moving average is $126.13.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data 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 negative net margin of 27.95% and a positive return on equity of 13.37%. As a group, research analysts expect that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ILMN shares. Royal Bank of Canada cut their price target on Illumina from $247.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. Canaccord Genuity Group reduced their price target on shares of Illumina from $135.00 to $115.00 and set a “hold” rating on the stock in a research report on Tuesday, March 11th. Barclays reaffirmed an “underweight” rating on shares of Illumina in a research note on Tuesday, March 11th. Stephens reissued an “overweight” rating and issued a $156.00 price objective on shares of Illumina in a research note on Tuesday, March 11th. Finally, Citigroup decreased their target price on shares of Illumina from $130.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Illumina presently has an average rating of “Moderate Buy” and an average price target of $140.90.

About Illumina

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.