Balboa Wealth Partners Takes $251,000 Position in Illumina, Inc. (NASDAQ:ILMN)

Balboa Wealth Partners purchased a new stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,158 shares of the life sciences company's stock, valued at approximately $251,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Capital World Investors boosted its holdings in shares of Illumina by 408.6% during the fourth quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company's stock valued at $2,408,721,000 after acquiring an additional 14,481,232 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Illumina by 0.8% during the fourth quarter. Bank of New York Mellon Corp now owns 3,402,057 shares of the life sciences company's stock valued at $454,617,000 after acquiring an additional 27,618 shares during the period. Brown Advisory Inc. boosted its holdings in shares of Illumina by 54,220.9% during the fourth quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company's stock valued at $255,586,000 after acquiring an additional 1,909,118 shares during the period. Norges Bank acquired a new position in shares of Illumina during the fourth quarter valued at $228,714,000. Finally, Northern Trust Corp raised its stake in shares of Illumina by 26.9% during the fourth quarter. Northern Trust Corp now owns 1,652,935 shares of the life sciences company's stock valued at $220,882,000 after purchasing an additional 349,878 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ILMN. Morgan Stanley reduced their price objective on shares of Illumina from $136.00 to $100.00 and set an "equal weight" rating for the company in a report on Monday, May 12th. HSBC downgraded shares of Illumina from a "buy" rating to a "hold" rating and set a $100.00 price objective for the company. in a report on Friday, February 28th. Canaccord Genuity Group upped their price objective on shares of Illumina from $87.00 to $99.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Citigroup reduced their price objective on shares of Illumina from $90.00 to $85.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Finally, Guggenheim reduced their price objective on shares of Illumina from $122.00 to $114.00 and set a "buy" rating for the company in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Illumina presently has an average rating of "Moderate Buy" and an average target price of $127.39.

Insiders Place Their Bets

In other Illumina news, CFO Ankur Dhingra bought 6,100 shares of the company's stock in a transaction dated Monday, May 12th. The shares were bought at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the acquisition, the chief financial officer now directly owns 24,906 shares of the company's stock, valued at approximately $2,022,616.26. This trade represents a 32.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company's stock.

Illumina Price Performance

Illumina stock traded up $0.63 during midday trading on Friday, hitting $94.79. The company's stock had a trading volume of 3,837,289 shares, compared to its average volume of 2,142,698. The company has a quick ratio of 1.48, a current ratio of 1.86 and a debt-to-equity ratio of 0.63. The stock's 50-day moving average price is $82.69 and its 200-day moving average price is $98.98. Illumina, Inc. has a 12 month low of $68.70 and a 12 month high of $156.66. The company has a market capitalization of $15.01 billion, a PE ratio of -15.62, a price-to-earnings-growth ratio of 1.86 and a beta of 1.32.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, topping 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 25.54% and a negative net margin of 22.25%. The business's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.98 EPS. Analysts anticipate that Illumina, Inc. will post 4.51 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.