Northern Trust Corp Buys 349,878 Shares of Illumina, Inc. (NASDAQ:ILMN)

Northern Trust Corp grew its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 26.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,652,935 shares of the life sciences company's stock after purchasing an additional 349,878 shares during the quarter. Northern Trust Corp owned approximately 1.04% of Illumina worth $220,882,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of Stockton grew its holdings in Illumina by 3.8% in the 4th quarter. Bank of Stockton now owns 2,162 shares of the life sciences company's stock worth $289,000 after buying an additional 80 shares in the last quarter. Stephens Inc. AR boosted its position in Illumina by 1.4% during the 4th quarter. Stephens Inc. AR now owns 6,623 shares of the life sciences company's stock worth $885,000 after acquiring an additional 90 shares during the period. Spire Wealth Management grew its stake in shares of Illumina by 26.0% in the fourth quarter. Spire Wealth Management now owns 470 shares of the life sciences company's stock worth $63,000 after purchasing an additional 97 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Illumina by 19.1% during the fourth quarter. IFP Advisors Inc now owns 617 shares of the life sciences company's stock valued at $82,000 after purchasing an additional 99 shares during the period. Finally, Freedom Investment Management Inc. lifted its holdings in Illumina by 3.7% in the fourth quarter. Freedom Investment Management Inc. now owns 2,856 shares of the life sciences company's stock worth $382,000 after purchasing an additional 101 shares during the period. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on ILMN. Stephens reissued an "overweight" rating and set a $156.00 target price on shares of Illumina in a research note on Tuesday, March 11th. Guggenheim cut their target price on Illumina from $170.00 to $150.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Royal Bank of Canada lowered their price target on Illumina from $128.00 to $112.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Piper Sandler upped their price objective on Illumina from $185.00 to $190.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Finally, Citigroup decreased their target price on Illumina from $90.00 to $85.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $137.55.

Illumina Stock Up 0.4 %

Shares of ILMN stock traded up $0.29 during trading on Monday, hitting $78.17. 1,123,593 shares of the company were exchanged, compared to its average volume of 2,276,174. The firm has a market capitalization of $12.37 billion, a price-to-earnings ratio of -10.18, a P/E/G ratio of 1.60 and a beta of 1.35. 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 business's 50-day simple moving average is $80.07 and its 200 day simple moving average is $115.47. Illumina, Inc. has a twelve month low of $68.70 and a twelve month high of $156.66.

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

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.