GAMMA Investing LLC Buys 62,201 Shares of Illumina, Inc. (NASDAQ:ILMN)

GAMMA Investing LLC lifted its position in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 2,009.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,297 shares of the life sciences company's stock after acquiring an additional 62,201 shares during the period. GAMMA Investing LLC's holdings in Illumina were worth $51,810,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ILMN. Golden State Wealth Management LLC purchased a new position in shares of Illumina in the fourth quarter worth approximately $32,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Illumina during the fourth quarter worth approximately $40,000. Assetmark Inc. boosted its holdings in shares of Illumina by 954.8% during the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company's stock worth $44,000 after purchasing an additional 296 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Illumina during the fourth quarter worth approximately $45,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Illumina during the fourth quarter worth approximately $48,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Illumina

In related news, CFO Ankur Dhingra bought 6,100 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average price 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on ILMN. TD Cowen cut shares of Illumina from a "buy" rating to a "hold" rating and decreased their price target for the stock from $177.00 to $140.00 in a report on Friday, February 7th. Robert W. Baird decreased their price target on shares of Illumina from $127.00 to $90.00 and set a "neutral" rating for the company in a report on Wednesday, March 5th. Canaccord Genuity Group decreased their price target on shares of Illumina from $92.00 to $87.00 and set a "hold" rating for the company in a report on Monday, May 12th. Stephens restated an "overweight" rating and set a $105.00 price target on shares of Illumina in a report on Tuesday, May 20th. Finally, Hsbc Global Res cut shares of Illumina from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $128.84.

Illumina Stock Performance

Shares of Illumina stock traded up $0.41 on Friday, reaching $82.66. The stock had a trading volume of 1,614,255 shares, compared to its average volume of 2,291,074. The business's 50-day moving average price is $77.90 and its two-hundred day moving average price is $104.72. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $156.66. The stock has a market cap of $13.09 billion, a P/E ratio of -10.76, a price-to-earnings-growth ratio of 1.60 and a beta of 1.35.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The life sciences company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the previous year, the company earned $0.98 earnings per share. Illumina's revenue for the quarter was down 1.4% on a year-over-year basis. On average, sell-side analysts forecast 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.