Avanza Fonder AB Buys Shares of 17,599 Illumina, Inc. (NASDAQ:ILMN)

Avanza Fonder AB purchased a new stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 17,599 shares of the life sciences company's stock, valued at approximately $2,352,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its holdings in Illumina by 1.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 319,834 shares of the life sciences company's stock worth $33,384,000 after purchasing an additional 3,564 shares in the last quarter. Edgestream Partners L.P. grew its holdings in shares of Illumina by 242.0% during the second quarter. Edgestream Partners L.P. now owns 9,551 shares of the life sciences company's stock worth $997,000 after buying an additional 6,758 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in Illumina by 130.5% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,087 shares of the life sciences company's stock valued at $740,000 after buying an additional 4,013 shares during the last quarter. Seven Eight Capital LP bought a new stake in Illumina in the 2nd quarter valued at approximately $766,000. Finally, Intech Investment Management LLC acquired a new position in Illumina during the 2nd quarter worth approximately $313,000. Institutional investors and hedge funds own 89.42% of the company's stock.

Wall Street Analyst Weigh In

ILMN has been the topic of a number of recent research reports. TD Cowen lifted their price objective on shares of Illumina from $166.00 to $177.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Morgan Stanley lowered their price target on shares of Illumina from $156.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada boosted their price target 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. Canaccord Genuity Group lifted their target price on Illumina from $130.00 to $145.00 and gave the company a "hold" rating in a research report on Tuesday, November 5th. Finally, UBS Group increased their price target on Illumina from $133.00 to $145.00 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. Eight research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $165.63.

Illumina Stock Down 0.5 %

NASDAQ ILMN traded down $0.70 during mid-day trading on Friday, hitting $136.67. The company's stock had a trading volume of 1,247,185 shares, compared to its average volume of 1,836,016. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. Illumina, Inc. has a twelve month low of $100.08 and a twelve month high of $156.66. The firm has a market capitalization of $21.68 billion, a price-to-earnings ratio of -13.72 and a beta of 1.11. The company's 50 day simple moving average is $139.60 and its 200 day simple moving average is $133.57.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.26. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the firm posted $0.33 EPS. Illumina's quarterly revenue was down 3.5% compared to the same quarter last year. Analysts anticipate that Illumina, Inc. will post 4.11 earnings per share 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.