Legacy Trust Makes New $1.69 Million Investment in Illumina, Inc. (NASDAQ:ILMN)

Legacy Trust purchased a new stake in Illumina, Inc. (NASDAQ:ILMN) in the fourth quarter, HoldingsChannel reports. The firm purchased 12,666 shares of the life sciences company’s stock, valued at approximately $1,693,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc grew its stake in Illumina by 153.7% in the 4th quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock valued at $32,000 after acquiring an additional 146 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Illumina by 58.5% in the third quarter. TD Private Client Wealth LLC now owns 382 shares of the life sciences company’s stock valued at $50,000 after purchasing an additional 141 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of Illumina by 65.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after purchasing an additional 168 shares during the last quarter. Private Trust Co. NA increased its stake in shares of Illumina by 81.2% during the 3rd quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock worth $62,000 after purchasing an additional 212 shares in the last quarter. Finally, Focused Wealth Management Inc acquired a new position in shares of Illumina during the 3rd quarter worth approximately $63,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ILMN. Citigroup downgraded Illumina from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $190.00 to $165.00 in a research report on Wednesday, December 11th. Royal Bank of Canada lifted their price objective on Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Barclays upped their target price on shares of Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. TD Cowen lifted their price target on shares of Illumina from $166.00 to $177.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Hsbc Global Res raised shares of Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price objective on the stock in a research note on Thursday, October 17th. Eight research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Illumina presently has an average rating of “Moderate Buy” and an average target price of $165.63.

Illumina Price Performance

NASDAQ ILMN opened at $131.72 on Thursday. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. Illumina, Inc. has a 1-year low of $100.08 and a 1-year high of $156.66. The business’s 50-day simple moving average is $139.05 and its 200-day simple moving average is $135.07.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the company earned $0.33 EPS. The firm’s revenue was down 3.5% on a year-over-year basis. On average, research analysts anticipate that Illumina, Inc. will post 4.13 earnings per share 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.