180 Wealth Advisors LLC Increases Position in Illumina, Inc. (NASDAQ:ILMN)

180 Wealth Advisors LLC boosted its holdings in Illumina, Inc. (NASDAQ:ILMN) by 8.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,474 shares of the life sciences company’s stock after purchasing an additional 1,231 shares during the period. 180 Wealth Advisors LLC’s holdings in Illumina were worth $2,125,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. abrdn plc boosted its stake in Illumina by 764.9% in the fourth quarter. abrdn plc now owns 339,023 shares of the life sciences company’s stock valued at $47,206,000 after acquiring an additional 299,827 shares during the period. Norges Bank bought a new position in Illumina during the 4th quarter worth $264,636,000. International Assets Investment Management LLC increased its position in Illumina by 210.5% in the fourth quarter. International Assets Investment Management LLC now owns 48,194 shares of the life sciences company’s stock worth $6,711,000 after buying an additional 32,672 shares during the period. BNP Paribas Financial Markets lifted its stake in Illumina by 49.0% in the fourth quarter. BNP Paribas Financial Markets now owns 275,762 shares of the life sciences company’s stock valued at $38,397,000 after buying an additional 90,634 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Illumina by 5.9% during the fourth quarter. Victory Capital Management Inc. now owns 122,743 shares of the life sciences company’s stock valued at $17,091,000 after acquiring an additional 6,827 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. TD Cowen cut their target price on Illumina from $140.00 to $122.00 and set a “hold” rating on the stock in a research note on Thursday, June 6th. Scotiabank reduced their price objective on shares of Illumina from $185.00 to $176.00 and set a “sector outperform” rating for the company in a report on Monday, May 6th. Robert W. Baird raised their target price on shares of Illumina from $125.00 to $128.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Jefferies Financial Group began coverage on shares of Illumina in a report on Monday, June 3rd. They issued a “hold” rating and a $115.00 price objective for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $253.00 target price on shares of Illumina in a report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $158.14.

Illumina Stock Down 1.3 %

Shares of ILMN traded down $1.39 during mid-day trading on Friday, reaching $105.07. The company’s stock had a trading volume of 669,602 shares, compared to its average volume of 2,169,470. The company has a market cap of $16.74 billion, a price-to-earnings ratio of -13.06 and a beta of 1.20. The business has a fifty day moving average of $112.09 and a 200 day moving average of $127.49. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. Illumina, Inc. has a 1 year low of $89.00 and a 1 year high of $195.64.

Illumina (NASDAQ:ILMN) last released its earnings results on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 EPS. As a group, analysts forecast that Illumina, Inc. will post 0.98 earnings per share for the current fiscal 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.