Bamco Inc. NY Increases Holdings in Illumina, Inc. (NASDAQ:ILMN)

Bamco Inc. NY raised its stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 407,901 shares of the life sciences company's stock after purchasing an additional 24,280 shares during the quarter. Bamco Inc. NY owned about 0.26% of Illumina worth $54,508,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bleakley Financial Group LLC acquired a new position in Illumina during the 4th quarter worth approximately $751,000. Van ECK Associates Corp raised its stake in shares of Illumina by 17.5% during the fourth quarter. Van ECK Associates Corp now owns 152,265 shares of the life sciences company's stock valued at $20,347,000 after purchasing an additional 22,718 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Illumina during the fourth quarter worth $1,464,000. Allworth Financial LP lifted its position in shares of Illumina by 720.7% during the fourth quarter. Allworth Financial LP now owns 7,132 shares of the life sciences company's stock worth $1,001,000 after purchasing an additional 6,263 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Illumina in the fourth quarter valued at $448,000. Institutional investors and hedge funds own 89.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ILMN shares. Canaccord Genuity Group cut their price objective on shares of Illumina from $115.00 to $92.00 and set a "hold" rating on the stock in a report on Tuesday, April 29th. Piper Sandler increased their price target on Illumina from $185.00 to $190.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Citigroup dropped their price objective on Illumina from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Barclays reduced their target price on Illumina from $100.00 to $77.00 and set an "underweight" rating for the company in a research note on Thursday, April 10th. Finally, Robert W. Baird dropped their price target on shares of Illumina from $127.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $137.55.

Illumina Stock Performance

ILMN stock opened at $77.88 on Monday. Illumina, Inc. has a 1 year low of $68.70 and a 1 year high of $156.66. The stock has a market capitalization of $12.33 billion, a price-to-earnings ratio of -10.14, a PEG ratio of 1.60 and a beta of 1.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. The stock's fifty day moving average is $80.07 and its two-hundred day moving average is $115.47.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. On average, research analysts predict that Illumina, Inc. will post 4.51 EPS for the current 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.

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