State of Michigan Retirement System Purchases 100 Shares of Illumina, Inc. (NASDAQ:ILMN)

State of Michigan Retirement System increased its holdings in Illumina, Inc. (NASDAQ:ILMN) by 0.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,530 shares of the life sciences company’s stock after purchasing an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in Illumina were worth $5,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ILMN. Trivant Custom Portfolio Group LLC increased its position in shares of Illumina by 166.7% during the first quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock valued at $27,000 after buying an additional 125 shares during the period. VisionPoint Advisory Group LLC grew its holdings in shares of Illumina by 344.6% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 249 shares of the life sciences company’s stock worth $34,000 after acquiring an additional 193 shares during the period. Wetzel Investment Advisors Inc. bought a new position in shares of Illumina in the 4th quarter worth approximately $37,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Illumina by 86.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock valued at $39,000 after purchasing an additional 132 shares during the period. Finally, Gradient Investments LLC boosted its position in shares of Illumina by 375.0% during the fourth quarter. Gradient Investments LLC now owns 285 shares of the life sciences company’s stock valued at $40,000 after purchasing an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Scotiabank dropped their target price on shares of Illumina from $185.00 to $176.00 and set a “sector outperform” rating on the stock in a report on Monday, May 6th. Barclays upped their price objective on shares of Illumina from $85.00 to $100.00 and gave the stock an “underweight” rating in a report on Wednesday, April 10th. StockNews.com started coverage on Illumina in a research report on Sunday. They issued a “buy” rating on the stock. Royal Bank of Canada reduced their price objective on Illumina from $249.00 to $242.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Stephens reissued an “overweight” rating and issued a $170.00 target price on shares of Illumina in a research note on Tuesday, May 7th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $157.62.

Illumina Stock Up 0.0 %

Shares of NASDAQ:ILMN opened at $105.51 on Wednesday. Illumina, Inc. has a 12-month low of $89.00 and a 12-month high of $195.64. The stock has a 50 day moving average of $111.33 and a 200 day moving average of $127.14. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the business posted $0.08 earnings per share. The company’s revenue was down 1.0% on a year-over-year basis. Sell-side analysts expect that Illumina, Inc. will post 0.98 earnings per share for the current fiscal year.

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.