Meridiem Capital Partners LP Takes $12.71 Million Position in Illumina, Inc. (NASDAQ:ILMN)

Meridiem Capital Partners LP purchased a new stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 95,130 shares of the life sciences company's stock, valued at approximately $12,712,000. Meridiem Capital Partners LP owned about 0.06% of Illumina as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital World Investors increased its stake in Illumina by 408.6% in the 4th quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company's stock worth $2,408,721,000 after acquiring an additional 14,481,232 shares during the last quarter. Brown Advisory Inc. raised its stake in Illumina by 54,220.9% during the fourth quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company's stock valued at $255,586,000 after purchasing an additional 1,909,118 shares in the last quarter. Norges Bank bought a new position in Illumina during the fourth quarter valued at $228,714,000. Bessemer Group Inc. grew its stake in shares of 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 worth $180,152,000 after buying an additional 1,344,038 shares in the last quarter. Finally, WCM Investment Management LLC increased its holdings in shares of Illumina by 26.6% in the 4th quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company's stock worth $551,625,000 after buying an additional 867,673 shares during the last quarter. Institutional investors own 89.42% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on ILMN shares. Guggenheim lowered their price target on shares of Illumina from $122.00 to $114.00 and set a "buy" rating for the company in a report on Friday, May 9th. Canaccord Genuity Group lowered their price objective on Illumina from $92.00 to $87.00 and set a "hold" rating for the company in a research note on Monday. Robert W. Baird cut their target price on Illumina from $127.00 to $90.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 5th. Piper Sandler dropped their price objective on shares of Illumina from $190.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, Citigroup reduced their target price on shares of Illumina from $90.00 to $85.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Illumina presently has an average rating of "Moderate Buy" and an average target price of $130.70.

Insider Transactions at Illumina

In other Illumina news, CFO Ankur Dhingra acquired 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, for a total transaction of $495,381.00. Following the acquisition, the chief financial officer now owns 24,906 shares in the company, valued at approximately $2,022,616.26. This trade represents a 32.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.17% of the company's stock.

Illumina Stock Up 3.4%

NASDAQ:ILMN traded up $2.72 during trading hours on Friday, reaching $83.62. The company's stock had a trading volume of 2,338,618 shares, compared to its average volume of 2,311,643. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. The company has a market capitalization of $13.23 billion, a P/E ratio of -10.89, a price-to-earnings-growth ratio of 1.60 and a beta of 1.35. The stock has a 50 day moving average price of $78.50 and a two-hundred day moving average price of $111.80. Illumina, Inc. has a 12 month low of $68.70 and a 12 month high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The life sciences company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the prior year, the business posted $0.98 EPS. The firm's quarterly revenue was down 1.4% on a year-over-year basis. Equities analysts predict that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

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.