C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Purchases Shares of 3,352 Illumina, Inc. (NASDAQ:ILMN)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,352 shares of the life sciences company's stock, valued at approximately $448,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CX Institutional purchased a new position in Illumina in the third quarter valued at about $218,000. Creative Planning raised its position in Illumina by 3.3% in the third quarter. Creative Planning now owns 16,679 shares of the life sciences company's stock valued at $2,175,000 after purchasing an additional 535 shares during the period. Beech Hill Advisors Inc. raised its position in Illumina by 30.2% in the third quarter. Beech Hill Advisors Inc. now owns 7,699 shares of the life sciences company's stock valued at $1,004,000 after purchasing an additional 1,784 shares during the period. Probity Advisors Inc. purchased a new position in Illumina in the third quarter valued at about $239,000. Finally, nVerses Capital LLC purchased a new position in Illumina in the third quarter valued at about $65,000. Institutional investors and hedge funds own 89.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Piper Sandler raised their price objective on Illumina from $185.00 to $190.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Citigroup lowered Illumina from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $190.00 to $165.00 in a research report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their price objective on Illumina from $125.00 to $140.00 and gave the company a "neutral" rating in a report on Tuesday, November 5th. UBS Group boosted their price objective on Illumina from $133.00 to $145.00 and gave the company a "neutral" rating in a report on Tuesday, November 5th. Finally, Barclays lowered Illumina from an "equal weight" rating to an "underweight" rating and lowered their price objective for the company from $130.00 to $100.00 in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $159.45.

Illumina Stock Performance

Shares of NASDAQ ILMN traded down $1.54 during midday trading on Monday, hitting $100.24. 3,135,782 shares of the company's stock were exchanged, compared to its average volume of 1,850,528. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. The stock's 50 day moving average price is $132.74 and its 200-day moving average price is $134.91. The firm has a market cap of $15.90 billion, a P/E ratio of -13.05 and a beta of 1.10. Illumina, Inc. has a twelve month low of $99.35 and a twelve month high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a positive return on equity of 12.59% and a negative net margin of 27.95%. Equities research analysts anticipate that Illumina, Inc. will post 4.42 EPS for the current 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.