Bourgeon Capital Management LLC Invests $6.38 Million in Illumina, Inc. (NASDAQ:ILMN)

Bourgeon Capital Management LLC purchased a new position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 80,428 shares of the life sciences company's stock, valued at approximately $6,381,000. Bourgeon Capital Management LLC owned about 0.05% of Illumina at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of Stockton boosted its position in Illumina by 3.8% during the 4th quarter. Bank of Stockton now owns 2,162 shares of the life sciences company's stock worth $289,000 after buying an additional 80 shares during the period. Stephens Inc. AR lifted its holdings in Illumina by 1.4% during the 4th quarter. Stephens Inc. AR now owns 6,623 shares of the life sciences company's stock worth $885,000 after buying an additional 90 shares during the period. Spire Wealth Management grew its position in shares of Illumina by 26.0% in the 4th quarter. Spire Wealth Management now owns 470 shares of the life sciences company's stock valued at $63,000 after buying an additional 97 shares during the last quarter. IFP Advisors Inc grew its position in shares of Illumina by 19.1% in the 4th quarter. IFP Advisors Inc now owns 617 shares of the life sciences company's stock valued at $82,000 after buying an additional 99 shares during the last quarter. Finally, Freedom Investment Management Inc. increased its stake in shares of Illumina by 3.7% in the fourth quarter. Freedom Investment Management Inc. now owns 2,856 shares of the life sciences company's stock valued at $382,000 after buying an additional 101 shares during the period. 89.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Robert W. Baird decreased their price objective on shares of Illumina from $127.00 to $90.00 and set a "neutral" rating for the company in a research report on Wednesday, March 5th. Barclays decreased their price target on Illumina from $100.00 to $77.00 and set an "underweight" rating for the company in a report on Thursday, April 10th. Guggenheim lowered their price objective on Illumina from $122.00 to $114.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Piper Sandler dropped their price objective on Illumina from $190.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. Finally, Canaccord Genuity Group decreased their target price on Illumina from $92.00 to $87.00 and set a "hold" rating for the company in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Illumina currently has an average rating of "Moderate Buy" and an average price target of $128.84.

Insiders Place Their Bets

In other Illumina news, CFO Ankur Dhingra purchased 6,100 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average cost of $81.21 per share, with a total value of $495,381.00. Following the completion of the transaction, the chief financial officer now owns 24,906 shares of the company's stock, valued at $2,022,616.26. The trade was a 32.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.60% of the company's stock.

Illumina Stock Up 1.6%

Illumina stock traded up $1.33 during trading on Wednesday, hitting $83.16. 1,360,253 shares of the company were exchanged, compared to its average volume of 2,325,273. The company has a market capitalization of $13.16 billion, a P/E ratio of -10.83, a PEG ratio of 1.60 and a beta of 1.35. The business's 50 day moving average is $77.69 and its 200 day moving average is $105.57. Illumina, Inc. has a 52 week low of $68.70 and a 52 week high of $156.66. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its earnings results 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. Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The business's revenue was down 1.4% compared to the same quarter last year. Analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current year.

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.