MBB Public Markets I LLC Takes Position in Illumina, Inc. (NASDAQ:ILMN)

MBB Public Markets I LLC purchased a new position in shares of Illumina, Inc. (NASDAQ:ILMN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,365 shares of the life sciences company’s stock, valued at approximately $1,186,000.

A number of other hedge funds have also recently added to or reduced their stakes in ILMN. Primecap Management Co. CA raised its stake in shares of Illumina by 462.5% during the 2nd quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock worth $253,514,000 after buying an additional 1,997,010 shares in the last quarter. Capital World Investors purchased a new position in Illumina in the fourth quarter worth $271,753,000. Coatue Management LLC acquired a new stake in Illumina in the fourth quarter valued at $119,285,000. Marshall Wace LLP purchased a new stake in shares of Illumina during the 2nd quarter worth $77,628,000. Finally, Findlay Park Partners LLP acquired a new position in shares of Illumina during the 1st quarter worth $100,120,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

Wall Street Analyst Weigh In

ILMN has been the topic of a number of research analyst reports. Evercore ISI decreased their price objective on shares of Illumina from $195.00 to $175.00 and set an “outperform” rating on the stock in a report on Tuesday, June 11th. Jefferies Financial Group initiated coverage on Illumina in a report on Monday, June 3rd. They issued a “hold” rating and a $115.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $242.00 price objective on shares of Illumina in a report on Wednesday, August 14th. TD Cowen raised Illumina from a “hold” rating to a “buy” rating and upped their target price for the company from $126.00 to $144.00 in a report on Wednesday, August 14th. Finally, Scotiabank cut their price target on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Illumina currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.05.

Illumina Trading Up 0.2 %

Shares of ILMN opened at $130.41 on Tuesday. Illumina, Inc. has a fifty-two week low of $89.00 and a fifty-two week high of $148.19. The company has a market capitalization of $20.77 billion, a PE ratio of -16.00 and a beta of 1.15. The stock has a fifty day moving average of $126.61 and a two-hundred day moving average of $120.28. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11.

Illumina (NASDAQ:ILMN) last released its earnings results on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.12 by $0.24. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 earnings per share. As a group, analysts forecast that Illumina, Inc. will post 3.63 EPS 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.