Bridgefront Capital LLC Makes New Investment in Illumina, Inc. (NASDAQ:ILMN)

Bridgefront Capital LLC purchased a new stake in Illumina, Inc. (NASDAQ:ILMN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,914 shares of the life sciences company’s stock, valued at approximately $256,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Capital World Investors raised its stake in Illumina by 408.6% during the 4th quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company’s stock valued at $2,408,721,000 after acquiring an additional 14,481,232 shares in the last quarter. Brown Advisory Inc. raised its stake in shares of Illumina by 54,220.9% during the fourth quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company’s stock valued at $255,586,000 after purchasing an additional 1,909,118 shares in the last quarter. Norges Bank acquired a new stake in Illumina in the fourth quarter worth about $228,714,000. Bessemer Group Inc. grew its position in Illumina by 32,837.5% in the 4th quarter. Bessemer Group Inc. now owns 1,348,131 shares of the life sciences company’s stock valued at $180,152,000 after buying an additional 1,344,038 shares in the last quarter. Finally, WCM Investment Management LLC increased its stake in Illumina by 26.6% during the 4th quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company’s stock valued at $551,625,000 after buying an additional 867,673 shares during the period. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Illumina Price Performance

Shares of ILMN opened at $76.35 on Thursday. The business’s 50-day moving average is $79.21 and its 200-day moving average is $114.45. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42. The company has a market capitalization of $12.08 billion, a price-to-earnings ratio of -9.94, a P/E/G ratio of 1.60 and a beta of 1.35. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $156.66.

Illumina (NASDAQ:ILMN) last released its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. Equities research analysts expect that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ILMN shares. Guggenheim decreased their price objective on shares of Illumina from $170.00 to $150.00 and set a “buy” rating for the company in a report on Friday, February 7th. Royal Bank of Canada lowered their price target on Illumina from $128.00 to $112.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. TD Cowen lowered Illumina from a “buy” rating to a “hold” rating and cut their price objective for the company from $177.00 to $140.00 in a report on Friday, February 7th. Stephens reaffirmed an “overweight” rating and set a $156.00 target price on shares of Illumina in a report on Tuesday, March 11th. Finally, Robert W. Baird cut their price target on shares of Illumina from $127.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $137.55.

Illumina 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.