Amalgamated Bank Acquires 47,014 Shares of Illumina, Inc. (NASDAQ:ILMN)

Amalgamated Bank boosted its holdings in Illumina, Inc. (NASDAQ:ILMN) by 140.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 80,522 shares of the life sciences company’s stock after purchasing an additional 47,014 shares during the quarter. Amalgamated Bank owned about 0.05% of Illumina worth $8,405,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Illumina by 0.4% in the first quarter. Vanguard Group Inc. now owns 18,245,041 shares of the life sciences company’s stock valued at $2,505,409,000 after acquiring an additional 66,528 shares during the period. Edgewood Management LLC grew its stake in Illumina by 4.6% in the fourth quarter. Edgewood Management LLC now owns 6,878,495 shares of the life sciences company’s stock valued at $957,762,000 after acquiring an additional 302,222 shares during the period. Baillie Gifford & Co. grew its stake in Illumina by 8.7% in the first quarter. Baillie Gifford & Co. now owns 5,736,418 shares of the life sciences company’s stock valued at $787,725,000 after acquiring an additional 460,649 shares during the period. WCM Investment Management LLC grew its stake in Illumina by 2,232.3% in the first quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock valued at $463,760,000 after acquiring an additional 3,232,418 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Illumina by 7.2% in the second quarter. Bank of New York Mellon Corp now owns 3,039,538 shares of the life sciences company’s stock valued at $317,267,000 after acquiring an additional 204,043 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Stock Performance

NASDAQ:ILMN opened at $134.39 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11. Illumina, Inc. has a 52-week low of $89.00 and a 52-week high of $148.19. The firm has a market cap of $21.41 billion, a price-to-earnings ratio of -16.49 and a beta of 1.15. The business’s fifty day moving average is $124.94 and its 200 day moving average is $120.71.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.24. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the company posted $0.32 EPS. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. Research analysts predict that Illumina, Inc. will post 3.62 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on ILMN. Royal Bank of Canada reissued an “outperform” rating and issued a $242.00 price objective on shares of Illumina in a research note on Wednesday, August 14th. Stephens reaffirmed an “overweight” rating and set a $170.00 target price on shares of Illumina in a research report on Wednesday, July 10th. Argus raised Illumina from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Wednesday, August 28th. Piper Sandler cut their target price on Illumina from $200.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Finally, TD Cowen raised Illumina from a “hold” rating to a “buy” rating and lifted their target price for the company from $126.00 to $144.00 in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $151.05.

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.