State of Michigan Retirement System Boosts Stake in Illumina, Inc. (NASDAQ:ILMN)

State of Michigan Retirement System raised its position in Illumina, Inc. (NASDAQ:ILMN) by 0.2% during the first quarter, Holdings Channel reports. The firm owned 43,530 shares of the life sciences company’s stock after buying an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in Illumina were worth $5,978,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Trivant Custom Portfolio Group LLC grew its stake in shares of Illumina by 166.7% in the first quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock worth $27,000 after acquiring an additional 125 shares in the last quarter. 180 Wealth Advisors LLC grew its stake in Illumina by 8.6% during the 1st quarter. 180 Wealth Advisors LLC now owns 15,474 shares of the life sciences company’s stock worth $2,125,000 after purchasing an additional 1,231 shares in the last quarter. Bouvel Investment Partners LLC increased its holdings in Illumina by 1.3% during the 1st quarter. Bouvel Investment Partners LLC now owns 6,547 shares of the life sciences company’s stock worth $899,000 after purchasing an additional 84 shares during the period. Procyon Advisors LLC raised its position in Illumina by 108.7% in the 1st quarter. Procyon Advisors LLC now owns 12,589 shares of the life sciences company’s stock valued at $1,729,000 after purchasing an additional 6,556 shares in the last quarter. Finally, Northwest Investment Counselors LLC boosted its stake in shares of Illumina by 3.8% in the 1st quarter. Northwest Investment Counselors LLC now owns 12,207 shares of the life sciences company’s stock valued at $1,676,000 after buying an additional 451 shares during the period. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Illumina Trading Up 0.0 %

Shares of Illumina stock opened at $105.51 on Wednesday. The firm has a fifty day moving average of $111.33 and a two-hundred day moving average of $127.14. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 1.75. Illumina, Inc. has a one year low of $89.00 and a one year high of $195.64.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Thursday, May 2nd. The life sciences company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 earnings per share. As a group, equities research analysts forecast that Illumina, Inc. will post 0.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ILMN. StockNews.com assumed coverage on shares of Illumina in a report on Sunday. They issued a “buy” rating on the stock. Robert W. Baird lifted their price objective on shares of Illumina from $125.00 to $128.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Barclays increased their target price on Illumina from $85.00 to $100.00 and gave the company an “underweight” rating in a report on Wednesday, April 10th. Royal Bank of Canada decreased their price target on Illumina from $249.00 to $242.00 and set an “outperform” rating for the company in a report on Monday. Finally, Evercore ISI dropped their price objective on Illumina from $195.00 to $175.00 and set an “outperform” rating on the stock in a report on Tuesday, June 11th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Illumina has an average rating of “Hold” and a consensus price target of $157.62.

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.