Scientech Research LLC Takes Position in Illumina, Inc. (NASDAQ:ILMN)

Scientech Research LLC bought a new stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,148 shares of the life sciences company's stock, valued at approximately $1,490,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC bought a new position in shares of Illumina during the 4th quarter valued at about $32,000. Assetmark Inc. increased its holdings in Illumina by 954.8% during the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company's stock worth $44,000 after purchasing an additional 296 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Illumina in the 4th quarter valued at about $45,000. Lee Danner & Bass Inc. bought a new position in shares of Illumina during the fourth quarter worth about $48,000. Finally, V Square Quantitative Management LLC raised its holdings in shares of Illumina by 50.6% in the fourth quarter. V Square Quantitative Management LLC now owns 393 shares of the life sciences company's stock valued at $52,000 after purchasing an additional 132 shares during the last quarter. Institutional investors own 89.42% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ILMN. Citigroup lowered their target price on shares of Illumina from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Robert W. Baird lowered their price objective on shares of Illumina from $127.00 to $90.00 and set a "neutral" rating on the stock in a research note 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 note on Friday, May 9th. Canaccord Genuity Group dropped their price target on Illumina from $92.00 to $87.00 and set a "hold" rating on the stock in a research note on Monday, May 12th. Finally, Stephens reissued an "overweight" rating and issued a $105.00 price target on shares of Illumina in a report on Tuesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $128.15.

Insider Buying and Selling at Illumina

In other Illumina news, CFO Ankur Dhingra bought 6,100 shares of the stock in a transaction on Monday, May 12th. The shares were acquired at an average price of $81.21 per share, with a total value of $495,381.00. Following the acquisition, the chief financial officer now directly owns 24,906 shares of the company's stock, valued at $2,022,616.26. The trade was a 32.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Illumina Stock Up 0.8%

NASDAQ:ILMN traded up $0.64 on Thursday, hitting $80.01. The stock had a trading volume of 735,485 shares, compared to its average volume of 2,314,836. Illumina, Inc. has a 1 year low of $68.70 and a 1 year high of $156.66. The firm's fifty day simple moving average is $78.33 and its two-hundred day simple moving average is $110.03. The stock has a market cap of $12.67 billion, a P/E ratio of -10.43, a price-to-earnings-growth 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.

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