Entropy Technologies LP Invests $1.38 Million in Illumina, Inc. (NASDAQ:ILMN)

Entropy Technologies LP bought a new position in Illumina, Inc. (NASDAQ:ILMN - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,563 shares of the life sciences company's stock, valued at approximately $1,378,000.

Other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in Illumina by 292.9% in the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company's stock valued at $34,000 after acquiring an additional 246 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new position in Illumina in the second quarter worth about $34,000. Massmutual Trust Co. FSB ADV lifted its holdings in Illumina by 65.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company's stock worth $56,000 after buying an additional 168 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Illumina during the 2nd quarter worth approximately $61,000. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of Illumina in the 2nd quarter worth approximately $63,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ILMN shares. Daiwa Capital Markets raised Illumina from a "neutral" rating to a "buy" rating and upped their price target for the stock from $120.00 to $154.00 in a research note on Friday, August 16th. Royal Bank of Canada upped their target price on shares of Illumina from $252.00 to $254.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. TD Cowen boosted their price objective on shares of Illumina from $166.00 to $177.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. UBS Group raised their target price on shares of Illumina from $133.00 to $145.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Finally, Citigroup boosted their price target on Illumina from $155.00 to $190.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $164.00.

Illumina Stock Performance

Shares of ILMN stock traded down $3.93 during mid-day trading on Thursday, reaching $142.24. 2,262,878 shares of the company's stock traded hands, compared to its average volume of 2,007,583. Illumina, Inc. has a 12 month low of $92.69 and a 12 month high of $156.66. The firm has a 50 day moving average price of $139.20 and a two-hundred day moving average price of $124.10. The firm has a market capitalization of $22.56 billion, a PE ratio of -14.68 and a beta of 1.13. 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 (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.88 by $0.26. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The business's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 earnings per share. On average, research analysts forecast that Illumina, Inc. will post 4.11 EPS for the current year.

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.