Edgestream Partners L.P. Grows Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Edgestream Partners L.P. lifted its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 242.0% during the second quarter, Holdings Channel.com reports. The fund owned 9,551 shares of the life sciences company’s stock after acquiring an additional 6,758 shares during the period. Edgestream Partners L.P.’s holdings in Illumina were worth $997,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Trivant Custom Portfolio Group LLC lifted its position in Illumina by 166.7% during the 1st 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 during the period. Versant Capital Management Inc raised its stake in shares of Illumina by 292.9% in the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after purchasing an additional 246 shares during the last quarter. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Illumina during the second quarter worth about $34,000. Massmutual Trust Co. FSB ADV boosted its position in Illumina by 86.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock valued at $39,000 after buying an additional 132 shares during the last quarter. Finally, Principal Securities Inc. acquired a new position in Illumina in the 4th quarter worth approximately $51,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Stock Performance

Shares of NASDAQ:ILMN opened at $131.20 on Friday. The business’s 50 day moving average price is $125.25 and its 200-day moving average price is $120.57. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86. The firm has a market capitalization of $20.90 billion, a PE ratio of -16.10 and a beta of 1.15. Illumina, Inc. has a 1 year low of $89.00 and a 1 year high of $148.19.

Illumina (NASDAQ:ILMN) last issued its earnings results on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.24. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 earnings per share. As a group, equities research analysts expect that Illumina, Inc. will post 3.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on ILMN. StockNews.com started coverage on shares of Illumina in a research note on Thursday, August 29th. They set a “buy” rating for the company. UBS Group boosted their target price on shares of Illumina from $131.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Stephens reaffirmed an “overweight” rating and set a $170.00 price target on shares of Illumina in a research report on Wednesday, July 10th. TD Cowen raised Illumina from a “hold” rating to a “buy” rating and boosted their price objective for the company from $126.00 to $144.00 in a report on Wednesday, August 14th. Finally, Robert W. Baird raised their target price on Illumina from $119.00 to $124.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.