Capital Group Investment Management PTE. LTD. Acquires Shares of 9,779 Illumina, Inc. (NASDAQ:ILMN)

Capital Group Investment Management PTE. LTD. acquired a new stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,779 shares of the life sciences company's stock, valued at approximately $1,307,000.

A number of other hedge funds also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Illumina during the fourth quarter valued at approximately $228,714,000. Bessemer Group Inc. grew its stake in Illumina by 32,837.5% during the 4th quarter. Bessemer Group Inc. now owns 1,348,131 shares of the life sciences company's stock worth $180,152,000 after buying an additional 1,344,038 shares during the last quarter. WCM Investment Management LLC increased its position in Illumina by 26.6% during the 4th quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company's stock valued at $551,625,000 after buying an additional 867,673 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in Illumina by 245.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,182,454 shares of the life sciences company's stock valued at $158,011,000 after buying an additional 840,423 shares during the last quarter. Finally, ARK Investment Management LLC purchased a new stake in shares of Illumina during the fourth quarter worth about $91,714,000. Hedge funds and other institutional investors own 89.42% of the company's stock.

Illumina Stock Performance

ILMN stock traded up $1.34 during midday trading on Wednesday, hitting $75.69. 566,284 shares of the stock traded hands, compared to its average volume of 2,268,361. The stock's fifty day simple moving average is $83.43 and its 200-day simple moving average is $119.36. The firm has a market cap of $11.98 billion, a P/E ratio of -9.86, a PEG ratio of 1.60 and a beta of 1.38. Illumina, Inc. has a 1-year low of $68.70 and a 1-year high of $156.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its earnings results on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. On average, analysts expect that Illumina, Inc. will post 4.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Robert W. Baird decreased their price objective on shares of Illumina from $127.00 to $90.00 and set a "neutral" rating for the company in a research report on Wednesday, March 5th. Morgan Stanley decreased their price target on shares of Illumina from $150.00 to $136.00 and set an "equal weight" rating for the company in a report on Tuesday, February 11th. Guggenheim dropped their price objective on shares of Illumina from $170.00 to $150.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Royal Bank of Canada cut their target price on Illumina from $128.00 to $112.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Finally, Stephens reaffirmed an "overweight" rating and set a $156.00 price target on shares of Illumina in a research report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Illumina currently has a consensus rating of "Moderate Buy" and a consensus target price of $138.70.

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.