Geode Capital Management LLC Acquires 48,018 Shares of Illumina, Inc. (NASDAQ:ILMN)

Geode Capital Management LLC boosted its position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 1.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,727,827 shares of the life sciences company's stock after purchasing an additional 48,018 shares during the quarter. Geode Capital Management LLC owned 1.72% of Illumina worth $354,933,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ILMN. Wealth Enhancement Advisory Services LLC grew its position in Illumina by 23.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 9,755 shares of the life sciences company's stock valued at $1,018,000 after purchasing an additional 1,831 shares in the last quarter. Great Valley Advisor Group Inc. acquired a new stake in shares of Illumina in the second quarter valued at about $201,000. ORG Partners LLC bought a new stake in Illumina during the second quarter worth about $79,000. Blue Trust Inc. boosted its position in Illumina by 2,203.6% during the second quarter. Blue Trust Inc. now owns 2,534 shares of the life sciences company's stock valued at $264,000 after purchasing an additional 2,424 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Illumina by 3.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 399,966 shares of the life sciences company's stock valued at $41,748,000 after purchasing an additional 13,725 shares during the last quarter. Institutional investors own 89.42% of the company's stock.

Illumina Price Performance

Illumina stock traded down $2.56 during midday trading on Friday, reaching $143.87. The company's stock had a trading volume of 1,808,556 shares, compared to its average volume of 2,009,685. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. The stock has a market cap of $22.82 billion, a PE ratio of -14.44 and a beta of 1.11. Illumina, Inc. has a 52 week low of $100.08 and a 52 week high of $156.66. The business has a 50-day moving average price of $144.27 and a 200-day moving average price of $128.44.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ILMN. Piper Sandler cut their price objective on Illumina from $195.00 to $185.00 and set an "overweight" rating for the company in a report on Monday, November 11th. Robert W. Baird upped their target price on shares of Illumina from $124.00 to $139.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Hsbc Global Res raised Illumina from a "hold" rating to a "strong-buy" rating and set a $180.00 price target on the stock in a research report on Thursday, October 17th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $156.00 price objective on shares of Illumina in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. boosted their target price on Illumina from $125.00 to $140.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Illumina presently has an average rating of "Moderate Buy" and an average target price of $165.40.

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.