HB Wealth Management LLC Increases Stock Holdings in Illumina, Inc. (NASDAQ:ILMN)

HB Wealth Management LLC boosted its stake in Illumina, Inc. (NASDAQ:ILMN) by 22.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,044 shares of the life sciences company’s stock after purchasing an additional 565 shares during the quarter. HB Wealth Management LLC’s holdings in Illumina were worth $318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of ILMN. Truist Financial Corp raised its stake in Illumina by 4.3% in the fourth quarter. Truist Financial Corp now owns 60,101 shares of the life sciences company’s stock valued at $8,369,000 after purchasing an additional 2,462 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Illumina by 78.1% in the fourth quarter. Russell Investments Group Ltd. now owns 69,646 shares of the life sciences company’s stock valued at $9,725,000 after purchasing an additional 30,538 shares in the last quarter. Victory Capital Management Inc. raised its stake in Illumina by 5.9% in the fourth quarter. Victory Capital Management Inc. now owns 122,743 shares of the life sciences company’s stock valued at $17,091,000 after purchasing an additional 6,827 shares in the last quarter. Natixis Advisors L.P. raised its stake in Illumina by 6.3% in the fourth quarter. Natixis Advisors L.P. now owns 314,244 shares of the life sciences company’s stock valued at $43,754,000 after purchasing an additional 18,569 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in Illumina in the fourth quarter valued at approximately $6,579,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Stock Down 1.8 %

Shares of Illumina stock opened at $131.40 on Friday. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The company’s fifty day simple moving average is $118.81 and its two-hundred day simple moving average is $121.84. The company has a market cap of $20.93 billion, a P/E ratio of -16.12 and a beta of 1.15. Illumina, Inc. has a 12-month low of $89.00 and a 12-month high of $171.50.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.24. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.09 billion. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 EPS. Research analysts anticipate that Illumina, Inc. will post 1.5 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. StockNews.com started coverage on shares of Illumina in a research note on Thursday. They issued a “buy” rating on the stock. Piper Sandler decreased their price target on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Stephens reissued an “overweight” rating and set a $170.00 price target on shares of Illumina in a research note on Wednesday, July 10th. Scotiabank decreased their price target on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 15th. Finally, Daiwa America raised shares of Illumina to a “strong-buy” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $151.05.

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.