Gateway Investment Advisers LLC Buys 26,076 Shares of Illumina, Inc. (NASDAQ:ILMN)

Gateway Investment Advisers LLC increased its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 88.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 55,539 shares of the life sciences company's stock after acquiring an additional 26,076 shares during the quarter. Gateway Investment Advisers LLC's holdings in Illumina were worth $4,406,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bank of Stockton lifted its position in shares of Illumina by 3.8% in the 4th quarter. Bank of Stockton now owns 2,162 shares of the life sciences company's stock worth $289,000 after purchasing an additional 80 shares during the period. Stephens Inc. AR raised its stake in Illumina by 1.4% in the fourth 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 in the last quarter. Spire Wealth Management lifted its holdings in Illumina by 26.0% during the fourth quarter. Spire Wealth Management now owns 470 shares of the life sciences company's stock worth $63,000 after buying an additional 97 shares during the period. IFP Advisors Inc boosted its position in Illumina by 19.1% during the 4th quarter. IFP Advisors Inc now owns 617 shares of the life sciences company's stock valued at $82,000 after acquiring an additional 99 shares in the last quarter. Finally, Freedom Investment Management Inc. boosted its position in Illumina by 3.7% during the 4th quarter. Freedom Investment Management Inc. now owns 2,856 shares of the life sciences company's stock valued at $382,000 after acquiring an additional 101 shares in the last quarter. Institutional investors own 89.42% of the company's stock.

Analyst Ratings Changes

ILMN has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price target on Illumina from $120.00 to $85.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Robert W. Baird reduced their target price 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. Guggenheim decreased their price target on shares of Illumina from $122.00 to $114.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Stephens reaffirmed an "overweight" rating and issued a $105.00 price objective on shares of Illumina in a research report on Tuesday, May 20th. Finally, 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 research note on Monday, May 12th. One 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 company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $128.84.

Insider Buying and Selling 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 purchased at an average cost of $81.21 per share, with a total value of $495,381.00. Following the completion of the acquisition, the chief financial officer now directly owns 24,906 shares in the company, valued at approximately $2,022,616.26. The trade was a 32.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is owned by corporate insiders.

Illumina Trading Up 0.5%

Illumina stock opened at $82.66 on Friday. The stock has a 50-day moving average price of $77.90 and a 200 day moving average price of $104.53. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of -10.76, a price-to-earnings-growth ratio of 1.60 and a beta of 1.35. Illumina, Inc. has a 52 week low of $68.70 and a 52 week high of $156.66. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63.

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