GAMMA Investing LLC Acquires 692 Shares of Illumina, Inc. (NASDAQ:ILMN)

GAMMA Investing LLC raised its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 31.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,919 shares of the life sciences company’s stock after acquiring an additional 692 shares during the quarter. GAMMA Investing LLC’s holdings in Illumina were worth $381,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Portfolio Solutions Inc. raised its position in shares of Illumina by 426.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,460 shares of the life sciences company’s stock valued at $2,123,000 after buying an additional 12,521 shares during the last quarter. Findlay Park Partners LLP bought a new stake in shares of Illumina in the first quarter worth about $100,120,000. Jupiter Asset Management Ltd. bought a new stake in shares of Illumina in the first quarter worth about $4,527,000. US Bancorp DE increased its holdings in shares of Illumina by 33.9% in the first quarter. US Bancorp DE now owns 31,600 shares of the life sciences company’s stock worth $4,339,000 after purchasing an additional 8,001 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Illumina by 41.4% in the first quarter. BNP Paribas Financial Markets now owns 390,035 shares of the life sciences company’s stock worth $53,560,000 after purchasing an additional 114,263 shares during the last quarter. 89.42% of the stock is owned by institutional investors.

Illumina Price Performance

Shares of ILMN stock opened at $140.00 on Thursday. Illumina, Inc. has a one year low of $89.00 and a one year high of $148.19. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86. The company’s 50-day simple moving average is $128.86 and its two-hundred day simple moving average is $120.47. The company has a market capitalization of $22.30 billion, a P/E ratio of -16.99 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the company earned $0.32 EPS. The business’s revenue was down 5.4% compared to the same quarter last year. As a group, equities analysts anticipate that Illumina, Inc. will post 3.63 EPS for the current year.

Analyst Ratings Changes

ILMN has been the topic of several research reports. Scotiabank reduced their target price on Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 15th. Royal Bank of Canada restated an “outperform” rating and issued a $242.00 price target on shares of Illumina in a research report on Wednesday, August 14th. Piper Sandler reduced their price target on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Daiwa America upgraded shares of Illumina to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Barclays raised Illumina from an “underweight” rating to an “equal weight” rating and set a $125.00 price objective on the stock in a research note on Wednesday, August 14th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $152.05.

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.