Weil Company Inc. Raises Position in Illumina, Inc. (NASDAQ:ILMN)

Weil Company Inc. lifted its holdings in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 20.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,162 shares of the life sciences company's stock after buying an additional 3,642 shares during the period. Weil Company Inc.'s holdings in Illumina were worth $1,679,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Freedom Investment Management Inc. boosted its position in shares of 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. EverSource Wealth Advisors LLC increased its holdings in Illumina by 16.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,108 shares of the life sciences company's stock worth $148,000 after buying an additional 156 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Illumina by 10.4% during the 4th quarter. Signaturefd LLC now owns 1,880 shares of the life sciences company's stock worth $251,000 after acquiring an additional 177 shares during the period. Probity Advisors Inc. grew its position in shares of Illumina by 12.2% in the fourth quarter. Probity Advisors Inc. now owns 2,054 shares of the life sciences company's stock valued at $274,000 after purchasing an additional 224 shares during the last quarter. Finally, Rakuten Securities Inc. increased its position in Illumina by 290.3% during the first quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company's stock worth $29,000 after acquiring an additional 270 shares during the period. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Price Performance

Shares of ILMN stock traded down $0.72 during mid-day trading on Monday, hitting $98.53. The company had a trading volume of 2,090,742 shares, compared to its average volume of 2,408,871. The company has a market capitalization of $15.60 billion, a P/E ratio of -16.23, a P/E/G ratio of 1.95 and a beta of 1.36. Illumina, Inc. has a 52-week low of $68.70 and a 52-week high of $156.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.86 and a quick ratio of 1.48. The stock's 50 day moving average price is $87.18 and its 200-day moving average price is $95.94.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. Illumina had a negative net margin of 22.25% and a positive return on equity of 25.54%. Illumina's quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 earnings per share. Equities research analysts forecast that Illumina, Inc. will post 4.51 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Barclays reaffirmed an "underweight" rating and issued a $85.00 price objective (up from $77.00) on shares of Illumina in a research note on Tuesday, June 24th. Piper Sandler reduced their price objective on Illumina from $190.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, May 15th. Morgan Stanley dropped their price target on shares of Illumina from $136.00 to $100.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. JPMorgan Chase & Co. decreased 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. Finally, Scotiabank lowered shares of Illumina from a "sector outperform" rating to a "sector perform" rating and set a $125.00 target price for the company. in a research report on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $125.11.

Insider Activity

In related news, CFO Ankur Dhingra purchased 6,100 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was purchased at an average price of $81.21 per share, with a total value of $495,381.00. Following the completion of the purchase, the chief financial officer owned 24,906 shares of the company's stock, valued at approximately $2,022,616.26. The trade was a 32.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.17% of the company's stock.

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.