Balentine LLC Invests $325,000 in Illumina, Inc. (NASDAQ:ILMN)

Balentine LLC acquired a new position in shares of Illumina, Inc. (NASDAQ:ILMN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,335 shares of the life sciences company’s stock, valued at approximately $325,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Illumina by 15.0% during the third quarter. Vanguard Group Inc. now owns 17,967,758 shares of the life sciences company’s stock valued at $2,466,614,000 after purchasing an additional 2,336,935 shares in the last quarter. Polen Capital Management LLC boosted its holdings in shares of Illumina by 0.6% in the 3rd quarter. Polen Capital Management LLC now owns 5,126,614 shares of the life sciences company’s stock worth $703,782,000 after purchasing an additional 29,153 shares in the last quarter. Loomis Sayles & Co. L P increased its position in shares of Illumina by 5.5% during the 3rd quarter. Loomis Sayles & Co. L P now owns 4,007,957 shares of the life sciences company’s stock valued at $550,212,000 after purchasing an additional 208,267 shares during the last quarter. Norges Bank purchased a new position in shares of Illumina during the 4th quarter valued at about $264,636,000. Finally, Barclays PLC raised its holdings in shares of Illumina by 120.0% during the 3rd quarter. Barclays PLC now owns 1,768,355 shares of the life sciences company’s stock valued at $242,758,000 after buying an additional 964,709 shares in the last quarter. 89.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. StockNews.com raised Illumina from a “hold” rating to a “buy” rating in a research note on Saturday, May 11th. Robert W. Baird upped their price objective on shares of Illumina from $125.00 to $128.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Barclays lifted their target price on shares of Illumina from $85.00 to $100.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 10th. OTR Global reissued a “mixed” rating on shares of Illumina in a research note on Wednesday, March 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $253.00 price objective on shares of Illumina in a research note on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Illumina has an average rating of “Hold” and an average target price of $164.65.

Illumina Trading Down 0.2 %

Illumina stock opened at $107.39 on Thursday. Illumina, Inc. has a 12 month low of $89.00 and a 12 month high of $213.91. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The business’s fifty day simple moving average is $123.54 and its two-hundred day simple moving average is $126.77. The company has a market capitalization of $17.11 billion, a price-to-earnings ratio of -13.18 and a beta of 1.20.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. Illumina’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 EPS. As a group, equities analysts predict that Illumina, Inc. will post 0.87 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.