102,518 Shares in Illumina, Inc. (NASDAQ:ILMN) Purchased by Concentric Capital Strategies LP

Concentric Capital Strategies LP purchased a new stake in shares of Illumina, Inc. (NASDAQ:ILMN) in the third quarter, according to its most recent filing with the SEC. The firm purchased 102,518 shares of the life sciences company’s stock, valued at approximately $13,369,000.

A number of other institutional investors also recently bought and sold shares of the company. Primecap Management Co. CA raised its position in Illumina by 462.5% in the second quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock valued at $253,514,000 after purchasing an additional 1,997,010 shares during the period. Millennium Management LLC lifted its stake in shares of Illumina by 305.0% in the second quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock worth $155,067,000 after acquiring an additional 1,118,747 shares in the last quarter. Marshall Wace LLP acquired a new stake in Illumina during the 2nd quarter valued at approximately $77,628,000. Massachusetts Financial Services Co. MA increased its holdings in Illumina by 148.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,056,172 shares of the life sciences company’s stock worth $137,735,000 after purchasing an additional 631,294 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Illumina by 511.7% in the 2nd quarter. Federated Hermes Inc. now owns 530,439 shares of the life sciences company’s stock valued at $55,367,000 after purchasing an additional 443,720 shares in the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Stephens lifted their price objective on shares of Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Citigroup boosted their price target on Illumina from $155.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Piper Sandler cut their price objective on shares of Illumina from $195.00 to $185.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Finally, Royal Bank of Canada raised their target price on shares of Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Illumina currently has an average rating of “Moderate Buy” and a consensus price target of $164.00.

Illumina Stock Performance

ILMN stock opened at $144.15 on Monday. The company has a 50 day moving average price of $141.88 and a 200 day moving average price of $126.03. Illumina, Inc. has a fifty-two week low of $99.23 and a fifty-two week high of $156.66. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. The stock has a market capitalization of $22.86 billion, a PE ratio of -14.47 and a beta of 1.13.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.26. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 earnings per share. Analysts forecast that Illumina, Inc. will post 4.11 EPS 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.