Edgestream Partners L.P. Buys 6,758 Shares of Illumina, Inc. (NASDAQ:ILMN)

Edgestream Partners L.P. increased its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 242.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,551 shares of the life sciences company’s stock after acquiring an additional 6,758 shares during the quarter. Edgestream Partners L.P.’s holdings in Illumina were worth $997,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Gryphon Financial Partners LLC grew its holdings in Illumina by 22.1% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,807 shares of the life sciences company’s stock valued at $252,000 after buying an additional 327 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of Illumina in the fourth quarter valued at $51,000. Coldstream Capital Management Inc. bought a new stake in Illumina in the fourth quarter worth $367,000. Cambridge Investment Research Advisors Inc. raised its stake in Illumina by 134.1% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 17,316 shares of the life sciences company’s stock valued at $2,411,000 after purchasing an additional 9,918 shares in the last quarter. Finally, Commerce Bank lifted its position in Illumina by 14.7% during the fourth quarter. Commerce Bank now owns 10,454 shares of the life sciences company’s stock valued at $1,456,000 after purchasing an additional 1,339 shares during the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Trading Down 2.4 %

Shares of NASDAQ ILMN opened at $131.20 on Friday. Illumina, Inc. has a 1-year low of $89.00 and a 1-year high of $148.19. The business has a fifty day moving average price of $125.25 and a 200 day moving average price of $120.57. The stock has a market capitalization of $20.90 billion, a P/E ratio of -16.10 and a beta of 1.15. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Argus upgraded shares of 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. Citigroup raised their price objective on Illumina from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Daiwa America raised Illumina to a “strong-buy” rating in a research report on Friday, August 16th. StockNews.com began coverage on Illumina in a report on Thursday, August 29th. They set a “buy” rating on the stock. Finally, Piper Sandler dropped their price objective on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $151.05.

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.