Stephens Investment Management Group LLC Acquires 53,590 Shares of Illumina, Inc. (NASDAQ:ILMN)

Stephens Investment Management Group LLC grew its holdings in Illumina, Inc. (NASDAQ:ILMN) by 22.1% during the 1st quarter, HoldingsChannel reports. The firm owned 295,597 shares of the life sciences company’s stock after purchasing an additional 53,590 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Illumina were worth $23,453,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Freedom Investment Management Inc. lifted its position in shares of Illumina by 3.7% during the 4th quarter. Freedom Investment Management Inc. now owns 2,856 shares of the life sciences company’s stock worth $382,000 after buying an additional 101 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Illumina by 16.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,108 shares of the life sciences company’s stock worth $148,000 after acquiring an additional 156 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Illumina by 10.4% in the 4th quarter. Signaturefd LLC now owns 1,880 shares of the life sciences company’s stock valued at $251,000 after purchasing an additional 177 shares in the last quarter. Probity Advisors Inc. grew its holdings in shares of Illumina by 12.2% during the 4th quarter. Probity Advisors Inc. now owns 2,054 shares of the life sciences company’s stock valued at $274,000 after purchasing an additional 224 shares during the last quarter. Finally, Xponance Inc. increased its position in Illumina by 1.0% during the 1st quarter. Xponance Inc. now owns 26,762 shares of the life sciences company’s stock worth $2,123,000 after purchasing an additional 264 shares in the last quarter. Institutional investors own 89.42% of the company’s stock.

Insider Activity at Illumina

In other news, CFO Ankur Dhingra bought 6,100 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were 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 directly owned 24,906 shares in the company, valued at approximately $2,022,616.26. This trade represents a 32.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on ILMN. Evercore ISI boosted their target price on shares of Illumina from $116.00 to $128.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Piper Sandler lowered their target price on Illumina from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Thursday, May 15th. Guggenheim dropped their target price on Illumina from $122.00 to $114.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Scotiabank cut Illumina from a “sector outperform” rating to a “sector perform” rating and set a $125.00 price target on the stock. in a report on Friday. Finally, Stephens reiterated an “overweight” rating and issued a $105.00 price objective on shares of Illumina in a report on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $125.11.

Illumina Stock Performance

Shares of ILMN stock opened at $99.25 on Monday. The firm has a 50 day moving average of $87.18 and a 200-day moving average of $95.94. The company has a market cap of $15.71 billion, a price-to-earnings ratio of -16.35, a price-to-earnings-growth ratio of 1.95 and a beta of 1.36. The company has a quick ratio of 1.48, a current ratio of 1.86 and a debt-to-equity ratio of 0.63. Illumina, Inc. has a 52 week low of $68.70 and a 52 week high of $156.66.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Illumina had a negative net margin of 22.25% and a positive return on equity of 25.54%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the company posted $0.98 earnings per share. The business’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities analysts forecast that Illumina, Inc. will post 4.51 earnings per share for the current year.

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.