Rakuten Investment Management Inc. Buys 26,877 Shares of Illumina, Inc. $ILMN

Key Points

• Rakuten Investment Management opened a new Illumina position in the third quarter, buying 26,877 shares valued at approximately $7.31 million. Other investors also added positions, and institutions own 89.42% of the stock.
• Illumina reported quarterly EPS of $1.62, topping the $1.36 consensus, while revenue of $1.17 billion also exceeded estimates and rose 4.2% year over year.
• Analyst views remain mixed: MarketBeat’s consensus rating is Hold, with an average price target of $244.24. The article also reported the shares were down 8.2%.

Rakuten Investment Management Inc. bought a new position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,877 shares of the life sciences company's stock, valued at approximately $7,311,000.

A number of other large investors have also recently made changes to their positions in ILMN. Provenance Wealth Advisors LLC bought a new stake in shares of Illumina during the 3rd quarter valued at $74,000. IPG Investment Advisors LLC bought a new position in Illumina in the 3rd quarter worth about $2,379,000. Signature Equity Partners LLC boosted its stake in Illumina by 246.5% in the 3rd quarter. Signature Equity Partners LLC now owns 149 shares of the life sciences company's stock worth $41,000 after purchasing an additional 106 shares during the period. XML Financial LLC bought a new position in Illumina in the 3rd quarter worth about $320,000. Finally, Summit Wealth Group LLC Co. bought a new position in Illumina in the 3rd quarter worth about $270,000. 89.42% of the stock is owned by institutional investors.

Illumina Trading Down 8.2%

Shares of ILMN stock opened at $208.00 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.05 and a current ratio of 2.63. Illumina, Inc. has a 52-week low of $112.65 and a 52-week high of $309.35. The company has a market capitalization of $31.45 billion, a PE ratio of 35.80, a price-to-earnings-growth ratio of 3.08 and a beta of 1.46. The business's fifty day moving average is $249.44 and its 200 day moving average is $177.79.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The life sciences company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.26. Illumina had a return on equity of 28.38% and a net margin of 19.72%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the company earned $1.34 earnings per share. The firm's quarterly revenue was up 4.2% on a year-over-year basis. On average, equities research analysts anticipate that Illumina, Inc. will post 5.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ILMN shares. JPMorgan Chase & Co. reduced their target price on Illumina from $320.00 to $300.00 and set an "overweight" rating for the company in a report on Friday, October 30th. Barclays increased their price target on shares of Illumina from $160.00 to $200.00 and gave the stock an "underweight" rating in a report on Wednesday, October 7th. Stephens lowered shares of Illumina from an "overweight" rating to an "equal weight" rating and set a $275.00 price objective for the company. in a research report on Friday, October 23rd. Stifel Nicolaus raised their price objective on shares of Illumina from $155.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Finally, Wall Street Zen raised shares of Illumina from a "hold" rating to a "buy" rating in a research note on Sunday, October 11th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $244.24.

Insiders Place Their Bets

In other Illumina news, Director Keith Meister sold 299,336 shares of the firm's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $217.96, for a total value of $65,243,274.56. Following the sale, the director owned 1,409,851 shares of the company's stock, valued at $307,291,123.96. This trade represents a 17.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders sold 1,601,541 shares of company stock valued at $354,755,291. 2.90% of the stock is owned by corporate insiders.

Illumina Company Profile

Illumina, Inc is a biotechnology company that develops and manufactures genomics and genetic-analysis technologies. Its products are used to study DNA and RNA in applications including biomedical research, clinical testing, pharmaceutical development, reproductive health, oncology and population genomics.

The company's offerings include next-generation sequencing systems, consumable flow cells and reagent kits, microarrays, and genomic data-analysis software. Its sequencing portfolio includes instruments such as the NovaSeq, NextSeq, MiSeq and iSeq platforms, while its informatics products include the DRAGEN platform, which supports the processing and interpretation of sequencing data.

Want to see what other hedge funds are holding ILMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illumina, Inc. (NASDAQ:ILMN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.