Illumina, Inc. (NASDAQ:ILMN) Position Raised by Ion Asset Management Ltd.

Ion Asset Management Ltd. boosted its holdings in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 10.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 800,500 shares of the life sciences company's stock after buying an additional 79,001 shares during the period. Illumina makes up about 6.2% of Ion Asset Management Ltd.'s holdings, making the stock its 4th biggest position. Ion Asset Management Ltd. owned approximately 0.50% of Illumina worth $106,971,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ILMN. Perbak Capital Partners LLP bought a new position in shares of Illumina during the 4th quarter valued at $1,201,000. Lido Advisors LLC lifted its stake in shares of Illumina by 18.1% in the fourth quarter. Lido Advisors LLC now owns 3,392 shares of the life sciences company's stock valued at $453,000 after buying an additional 521 shares during the period. Northern Trust Corp grew its holdings in shares of Illumina by 26.9% during the 4th quarter. Northern Trust Corp now owns 1,652,935 shares of the life sciences company's stock worth $220,882,000 after purchasing an additional 349,878 shares in the last quarter. Oxford Asset Management LLP acquired a new stake in Illumina during the fourth quarter worth $308,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Illumina in the fourth quarter valued at about $11,301,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Price Performance

Illumina stock traded up $1.37 during mid-day trading on Friday, hitting $77.88. 1,190,941 shares of the company traded hands, compared to its average volume of 2,283,628. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. Illumina, Inc. has a one year low of $68.70 and a one year high of $156.66. The stock has a market cap of $12.33 billion, a price-to-earnings ratio of -10.14, a price-to-earnings-growth ratio of 1.60 and a beta of 1.38. The stock has a fifty day moving average price of $80.43 and a 200-day moving average price of $116.34.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. On average, equities analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ILMN. TD Cowen cut shares of Illumina from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $177.00 to $140.00 in a research note on Friday, February 7th. Morgan Stanley reduced their target price on shares of Illumina from $150.00 to $136.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 11th. Piper Sandler increased their price objective on shares of Illumina from $185.00 to $190.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Barclays dropped their target price on shares of Illumina from $100.00 to $77.00 and set an "underweight" rating for the company in a research report on Thursday, April 10th. Finally, Guggenheim decreased their price objective on Illumina from $170.00 to $150.00 and set a "buy" rating for the company in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $137.55.

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.