Tidal Investments LLC Boosts Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Tidal Investments LLC raised its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 740.3% during the 4th quarter, Holdings Channel reports. The firm owned 37,385 shares of the life sciences company’s stock after buying an additional 32,936 shares during the quarter. Tidal Investments LLC’s holdings in Illumina were worth $4,996,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ILMN. Capital World Investors lifted its holdings in shares of Illumina by 408.6% in 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 buying an additional 14,481,232 shares during the period. Brown Advisory Inc. lifted its holdings in shares of Illumina by 54,220.9% in the 4th quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company’s stock valued at $255,586,000 after buying an additional 1,909,118 shares during the period. Norges Bank acquired a new position in shares of Illumina in the 4th quarter valued at about $228,714,000. Bessemer Group Inc. lifted its holdings in shares of 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 during the period. Finally, WCM Investment Management LLC lifted its holdings in shares of Illumina by 26.6% in 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. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Price Performance

Shares of Illumina stock opened at $84.21 on Wednesday. The business has a 50 day simple moving average of $78.46 and a two-hundred day simple moving average of $110.24. Illumina, Inc. has a 12 month low of $68.70 and a 12 month high of $156.66. The stock has a market capitalization of $13.33 billion, a P/E ratio of -10.96, a PEG ratio of 1.60 and a beta of 1.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42.

Illumina (NASDAQ:ILMN) last announced its earnings results on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. As a group, analysts predict that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ILMN. Barclays decreased their price objective on Illumina from $100.00 to $77.00 and set an “underweight” rating for the company in a report on Thursday, April 10th. Hsbc Global Res cut Illumina from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Guggenheim decreased their price objective on Illumina from $122.00 to $114.00 and set a “buy” rating for the company in a report on Friday, May 9th. Citigroup decreased their price objective on Illumina from $90.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Finally, Stephens reaffirmed an “overweight” rating and issued a $105.00 price target on shares of Illumina in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $128.15.

Insider Buying and Selling at Illumina

In related news, CFO Ankur Dhingra bought 6,100 shares of the company’s stock in a transaction on Monday, May 12th. The stock was bought at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the acquisition, the chief financial officer now directly owns 24,906 shares in the company, valued at $2,022,616.26. This represents a 32.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.60% of the company’s stock.

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.