IQ EQ FUND MANAGEMENT IRELAND Ltd Buys 3,853 Shares of Illumina, Inc. (NASDAQ:ILMN)

Key Points

• IQ EQ Fund Management Ireland Ltd significantly increased its stake in Illumina, Inc., growing its position by 104.5% to 7,541 shares valued at approximately $598,000.
• Institutional ownership of Illumina stands at 89.42%, with several firms boosting their stakes, including PFS Partners LLC and Rakuten Securities Inc..
• Illumina's recent earnings report showed $1.06 billion in revenue for the quarter, a decrease of 4.8% year-over-year, but earnings per share exceeded expectations at $1.19.

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 104.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,541 shares of the life sciences company's stock after acquiring an additional 3,853 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Illumina were worth $598,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital World Investors grew its holdings in Illumina by 408.6% in 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 purchasing an additional 14,481,232 shares during the last quarter. Brown Advisory Inc. lifted its holdings in shares of Illumina by 54,220.9% during the 4th 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 in the last quarter. Bessemer Group Inc. increased its holdings in Illumina by 32,837.5% in the 4th quarter. Bessemer Group Inc. now owns 1,348,131 shares of the life sciences company's stock valued at $180,152,000 after purchasing an additional 1,344,038 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Illumina by 2,057.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 922,281 shares of the life sciences company's stock worth $73,174,000 after acquiring an additional 879,533 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in Illumina by 2,292.9% in the first quarter. Pacer Advisors Inc. now owns 565,680 shares of the life sciences company's stock valued at $44,881,000 after acquiring an additional 542,040 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company's stock.

Insider Buying and Selling at Illumina

In other Illumina news, CFO Ankur Dhingra bought 6,100 shares of the stock in a transaction dated Monday, May 12th. The shares were bought 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 owned 24,906 shares of the company's stock, valued at $2,022,616.26. This trade represents a 32.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 2.60% of the stock is owned by insiders.

Illumina Trading Down 3.4%

Shares of Illumina stock traded down $3.33 during trading on Wednesday, hitting $94.43. 2,148,890 shares of the company were exchanged, compared to its average volume of 2,422,392. The firm's fifty day moving average price is $94.47 and its 200 day moving average price is $92.05. Illumina, Inc. has a 1-year low of $68.70 and a 1-year high of $156.66. The firm has a market capitalization of $14.51 billion, a P/E ratio of 11.95, a price-to-earnings-growth ratio of 2.20 and a beta of 1.37. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.81 and a quick ratio of 1.41.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The life sciences company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.17. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.12 billion. Illumina had a net margin of 29.36% and a return on equity of 28.93%. The firm's revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 earnings per share. As a group, sell-side analysts expect that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Evercore ISI upped their price objective on Illumina from $116.00 to $128.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Stephens set a $110.00 price target on Illumina and gave the company an "overweight" rating in a report on Monday. Royal Bank Of Canada lifted their target price on Illumina from $118.00 to $126.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. JPMorgan Chase & Co. decreased their target price on Illumina from $120.00 to $85.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Finally, Morgan Stanley increased their target price on Illumina from $100.00 to $105.00 and gave the company an "equal weight" rating in a report on Monday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Illumina presently has an average rating of "Hold" and an average target price of $127.74.

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.