Allstate Corp Takes Position in Illumina, Inc. (NASDAQ:ILMN)

Allstate Corp acquired a new stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,719 shares of the life sciences company's stock, valued at approximately $631,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Versant Capital Management Inc grew its holdings in shares of Illumina by 153.7% during the fourth quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company's stock worth $32,000 after buying an additional 146 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Illumina in the 4th quarter valued at approximately $32,000. Assetmark Inc. increased its holdings in shares of Illumina by 954.8% in the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company's stock valued at $44,000 after purchasing an additional 296 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Illumina in the fourth quarter valued at approximately $45,000. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Illumina during the fourth quarter worth approximately $48,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. 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 research note on Friday, February 7th. Morgan Stanley dropped their price target on shares of Illumina from $150.00 to $136.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 11th. Citigroup reduced their price objective on shares of Illumina from $130.00 to $90.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Hsbc Global Res cut Illumina from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, TD Cowen cut Illumina from a "buy" rating to a "hold" rating and reduced their price target for the company from $177.00 to $140.00 in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $140.90.

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Illumina Price Performance

Shares of Illumina stock traded down $2.26 during trading on Friday, hitting $74.16. 3,912,056 shares of the company were exchanged, compared to its average volume of 2,222,582. Illumina, Inc. has a fifty-two week low of $70.64 and a fifty-two week high of $156.66. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average price of $96.82 and a 200 day moving average price of $125.02. The stock has a market capitalization of $11.75 billion, a price-to-earnings ratio of -9.66, a P/E/G ratio of 1.60 and a beta of 1.38.

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

Illumina Company 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.