Pinebridge Investments L.P. Increases Stake in Illumina, Inc. (NASDAQ:ILMN)

Pinebridge Investments L.P. grew its holdings in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 67.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 79,615 shares of the life sciences company's stock after buying an additional 32,032 shares during the period. Pinebridge Investments L.P. owned 0.05% of Illumina worth $10,639,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Dark Forest Capital Management LP purchased a new position in shares of Illumina during the fourth quarter valued at approximately $688,000. Quantessence Capital LLC purchased a new position in shares of Illumina during the fourth quarter valued at approximately $971,000. Massar Capital Management LP purchased a new stake in Illumina in the fourth quarter worth $8,025,000. Thunderbird Partners LLP bought a new position in Illumina in the fourth quarter worth $11,870,000. Finally, Stifel Financial Corp lifted its position in Illumina by 24.9% during the fourth quarter. Stifel Financial Corp now owns 326,140 shares of the life sciences company's stock valued at $43,582,000 after buying an additional 64,986 shares during the period. 89.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on ILMN shares. Hsbc Global Res lowered shares of Illumina from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. Piper Sandler boosted their price objective on shares of Illumina from $185.00 to $190.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Canaccord Genuity Group dropped their price objective on shares of Illumina from $115.00 to $92.00 and set a "hold" rating on the stock in a research note on Tuesday. Royal Bank of Canada dropped their price objective on shares of Illumina from $128.00 to $112.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. Finally, Citigroup dropped their price objective 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 investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Illumina has a consensus rating of "Moderate Buy" and an average price target of $137.55.

Illumina Stock Performance

Shares of ILMN traded down $0.16 during mid-day trading on Tuesday, hitting $77.06. 456,727 shares of the company traded hands, compared to its average volume of 2,274,767. 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 stock has a 50-day moving average price of $81.51 and a two-hundred day moving average price of $117.39. Illumina, Inc. has a 1 year low of $68.70 and a 1 year high of $156.66. The stock has a market cap of $12.20 billion, a price-to-earnings ratio of -10.04, a P/E/G ratio of 1.60 and a beta of 1.38.

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

Illumina 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.