Vanguard Group Inc. Acquires 66,528 Shares of Illumina, Inc. (NASDAQ:ILMN)

Vanguard Group Inc. grew its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 0.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,245,041 shares of the life sciences company’s stock after purchasing an additional 66,528 shares during the quarter. Vanguard Group Inc. owned approximately 11.45% of Illumina worth $2,505,409,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. increased its holdings in Illumina by 426.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,460 shares of the life sciences company’s stock worth $2,123,000 after buying an additional 12,521 shares during the last quarter. Findlay Park Partners LLP purchased a new stake in shares of Illumina during the 1st quarter worth approximately $100,120,000. abrdn plc raised its holdings in shares of Illumina by 764.9% in the 4th quarter. abrdn plc now owns 339,023 shares of the life sciences company’s stock worth $47,206,000 after purchasing an additional 299,827 shares during the period. Norges Bank purchased a new position in Illumina in the fourth quarter valued at approximately $264,636,000. Finally, International Assets Investment Management LLC grew its holdings in Illumina by 210.5% during the fourth quarter. International Assets Investment Management LLC now owns 48,194 shares of the life sciences company’s stock valued at $6,711,000 after purchasing an additional 32,672 shares during the period. 89.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on ILMN shares. Evercore ISI lowered their target price on Illumina from $195.00 to $175.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 11th. Stephens reaffirmed an “overweight” rating and set a $170.00 price objective on shares of Illumina in a report on Wednesday, July 10th. TD Cowen cut their target price on shares of Illumina from $140.00 to $122.00 and set a “hold” rating for the company in a research report on Thursday, June 6th. StockNews.com started coverage on shares of Illumina in a research report on Sunday, June 30th. They issued a “buy” rating on the stock. Finally, Citigroup raised shares of Illumina from a “neutral” rating to a “buy” rating and set a $140.00 price objective for the company in a report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $158.57.

Illumina Price Performance

Shares of Illumina stock traded down $1.30 on Friday, hitting $114.49. 1,372,989 shares of the company traded hands, compared to its average volume of 3,804,000. Illumina, Inc. has a 12-month low of $89.00 and a 12-month high of $195.64. The firm’s 50-day simple moving average is $109.51 and its 200 day simple moving average is $124.74. The company has a market cap of $18.24 billion, a P/E ratio of -14.05 and a beta of 1.15. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.05 billion. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The company’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 earnings per share. Analysts expect that Illumina, Inc. will post 1.38 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.