Entropy Technologies LP Takes Position in Illumina, Inc. (NASDAQ:ILMN)

Entropy Technologies LP purchased a new stake in Illumina, Inc. (NASDAQ:ILMN) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,563 shares of the life sciences company’s stock, valued at approximately $1,378,000.

A number of other institutional investors also recently bought and sold shares of ILMN. Janney Montgomery Scott LLC boosted its stake in Illumina by 41.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 3,070 shares of the life sciences company’s stock worth $422,000 after purchasing an additional 900 shares in the last quarter. Empowered Funds LLC boosted its stake in Illumina by 26.9% in the 1st quarter. Empowered Funds LLC now owns 3,340 shares of the life sciences company’s stock worth $459,000 after purchasing an additional 708 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in Illumina in the 1st quarter worth approximately $307,000. Sei Investments Co. boosted its stake in Illumina by 309.3% in the 1st quarter. Sei Investments Co. now owns 71,143 shares of the life sciences company’s stock worth $9,769,000 after purchasing an additional 53,761 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in Illumina by 25.4% in the 1st quarter. QRG Capital Management Inc. now owns 6,874 shares of the life sciences company’s stock worth $944,000 after purchasing an additional 1,393 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Illumina Price Performance

Illumina stock opened at $146.17 on Thursday. Illumina, Inc. has a 52-week low of $92.69 and a 52-week high of $156.66. The firm has a market capitalization of $23.18 billion, a price-to-earnings ratio of -14.68 and a beta of 1.13. The company has a fifty day simple moving average of $138.84 and a 200-day simple moving average of $123.95. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94.

Illumina (NASDAQ:ILMN) last released its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 earnings per share. On average, equities analysts anticipate that Illumina, Inc. will post 4.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Argus upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Wednesday, August 28th. JPMorgan Chase & Co. lifted their price objective on shares of Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Stephens lifted their price objective on shares of Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a research note on Tuesday. Citigroup lifted their price objective on shares of Illumina from $155.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Daiwa America upgraded shares of Illumina to a “strong-buy” rating in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.00.

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.