Illumina, Inc. (NASDAQ:ILMN) Stock Position Raised by Empowered Funds LLC

Empowered Funds LLC lifted its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,344 shares of the life sciences company’s stock after purchasing an additional 384 shares during the period. Empowered Funds LLC’s holdings in Illumina were worth $580,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its holdings in Illumina by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,727,827 shares of the life sciences company’s stock worth $354,933,000 after buying an additional 48,018 shares during the period. Primecap Management Co. CA increased its position in shares of Illumina by 3.6% in the third quarter. Primecap Management Co. CA now owns 2,516,359 shares of the life sciences company’s stock worth $328,158,000 after acquiring an additional 87,599 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Illumina by 40.5% during the third quarter. Janus Henderson Group PLC now owns 2,168,057 shares of the life sciences company’s stock valued at $282,735,000 after acquiring an additional 625,245 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Illumina by 4.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,260,137 shares of the life sciences company’s stock valued at $164,334,000 after acquiring an additional 54,319 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in Illumina by 148.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,056,172 shares of the life sciences company’s stock worth $137,735,000 after purchasing an additional 631,294 shares during the period. 89.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ILMN has been the topic of several recent analyst reports. Stephens boosted their target price on shares of Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Morgan Stanley dropped their price target on Illumina from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Royal Bank of Canada decreased their price objective on Illumina from $250.00 to $247.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Citigroup downgraded Illumina from a “buy” rating to a “neutral” rating and dropped their target price for the company from $190.00 to $165.00 in a report on Wednesday, December 11th. Finally, Piper Sandler increased their price target on shares of Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illumina presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.45.

Illumina Stock Performance

Shares of NASDAQ ILMN opened at $101.05 on Wednesday. The business’s 50-day simple moving average is $131.80 and its 200-day simple moving average is $134.75. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. Illumina, Inc. has a 52 week low of $99.33 and a 52 week high of $156.66. The firm has a market cap of $16.03 billion, a price-to-earnings ratio of -13.16 and a beta of 1.10.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 12.59%. As a group, equities research analysts expect that Illumina, Inc. will post 4.42 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.