Tealwood Asset Management Inc. Invests $1.07 Million in Illumina, Inc. (NASDAQ:ILMN)

Tealwood Asset Management Inc. acquired a new position in Illumina, Inc. (NASDAQ:ILMN - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 13,523 shares of the life sciences company's stock, valued at approximately $1,073,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in Illumina during the 4th quarter valued at about $32,000. Fourth Dimension Wealth LLC bought a new position in shares of Illumina in the fourth quarter valued at approximately $40,000. Assetmark Inc. increased its stake in shares of Illumina by 954.8% during the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company's stock valued at $44,000 after acquiring an additional 296 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Illumina in the 4th quarter worth $45,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Illumina in the 4th quarter valued at about $48,000. 89.42% of the stock is currently owned by institutional investors.

Illumina Trading Up 3.5%

NASDAQ:ILMN traded up $3.00 during trading hours on Tuesday, hitting $87.98. The stock had a trading volume of 2,949,613 shares, compared to its average volume of 2,284,623. The company has a market cap of $13.93 billion, a price-to-earnings ratio of -11.46, a P/E/G ratio of 1.60 and a beta of 1.32. Illumina, Inc. has a one year low of $68.70 and a one year high of $156.66. 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 business's 50 day moving average is $78.19 and its 200-day moving average is $103.81.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. The company's revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. Sell-side analysts anticipate that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

Insider Transactions at Illumina

In related news, CFO Ankur Dhingra bought 6,100 shares of the business's stock in a transaction dated Monday, May 12th. The stock was bought at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the purchase, the chief financial officer now owns 24,906 shares in the company, valued at $2,022,616.26. This represents a 32.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ILMN shares. Robert W. Baird decreased their price target on Illumina from $127.00 to $90.00 and set a "neutral" rating for the company in a research report on Wednesday, March 5th. Hsbc Global Res downgraded Illumina from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. reduced their price objective on shares of Illumina from $120.00 to $85.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Guggenheim dropped their price target on shares of Illumina from $122.00 to $114.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Finally, Canaccord Genuity Group lowered their target price on Illumina from $92.00 to $87.00 and set a "hold" rating on the stock in a report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $128.84.

About Illumina

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.