Illumina, Inc. (NASDAQ:ILMN) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 65.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,437 shares of the life sciences company's stock after purchasing an additional 13,240 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Illumina were worth $2,653,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of Illumina in the 4th quarter valued at about $50,577,000. Merit Financial Group LLC increased its holdings in shares of Illumina by 344.8% in the 1st quarter. Merit Financial Group LLC now owns 13,036 shares of the life sciences company's stock valued at $1,034,000 after purchasing an additional 10,105 shares in the last quarter. Trexquant Investment LP increased its holdings in shares of Illumina by 16.7% in the 4th quarter. Trexquant Investment LP now owns 142,977 shares of the life sciences company's stock valued at $19,106,000 after purchasing an additional 20,506 shares in the last quarter. Vestmark Advisory Solutions Inc. increased its holdings in shares of Illumina by 699.3% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 17,217 shares of the life sciences company's stock valued at $2,301,000 after purchasing an additional 15,063 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Illumina by 1.1% in the 4th quarter. Arizona State Retirement System now owns 46,122 shares of the life sciences company's stock valued at $6,163,000 after purchasing an additional 482 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company's stock.

Insider Activity at Illumina

In related news, CFO Ankur Dhingra bought 6,100 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the completion of the acquisition, the chief financial officer now owns 24,906 shares in the company, valued at $2,022,616.26. This trade represents a 32.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is owned by insiders.

Illumina Trading Up 0.7%

Shares of NASDAQ ILMN traded up $0.63 during midday trading on Friday, reaching $94.79. 3,837,289 shares of the stock were exchanged, compared to its average volume of 2,142,698. The company has a market capitalization of $15.01 billion, a P/E ratio of -15.62, a P/E/G ratio of 1.86 and a beta of 1.32. Illumina, Inc. has a 52-week low of $68.70 and a 52-week high of $156.66. The company has a current ratio of 1.86, a quick ratio of 1.48 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average price of $82.69 and a 200-day moving average price of $98.98.

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

Wall Street Analysts Forecast Growth

ILMN has been the subject of a number of research analyst reports. Piper Sandler cut their price target on shares of Illumina from $190.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. Royal Bank Of Canada cut their target price on shares of Illumina from $128.00 to $112.00 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. Robert W. Baird cut their target price on shares of Illumina from $127.00 to $90.00 and set a "neutral" rating for the company in a research report on Wednesday, March 5th. Guggenheim cut their target price 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. Finally, Stephens restated an "overweight" rating and set a $105.00 target price on shares of Illumina in a research report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $127.39.

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.