Weybosset Research & Management LLC Has $2.35 Million Position in Illumina, Inc. (NASDAQ:ILMN)

Weybosset Research & Management LLC grew its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 92.0% in the third quarter, Holdings Channel reports. The institutional investor owned 18,052 shares of the life sciences company’s stock after acquiring an additional 8,650 shares during the period. Illumina makes up 0.8% of Weybosset Research & Management LLC’s investment portfolio, making the stock its 23rd largest holding. Weybosset Research & Management LLC’s holdings in Illumina were worth $2,354,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ILMN. Stifel Financial Corp boosted its holdings in Illumina by 6.6% during the fourth quarter. Stifel Financial Corp now owns 52,447 shares of the life sciences company’s stock worth $7,303,000 after purchasing an additional 3,269 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Illumina by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 252,565 shares of the life sciences company’s stock valued at $35,167,000 after acquiring an additional 4,049 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Illumina by 2.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 118,003 shares of the life sciences company’s stock valued at $16,431,000 after purchasing an additional 2,462 shares during the period. CIBC Asset Management Inc increased its position in shares of Illumina by 0.4% during the 4th quarter. CIBC Asset Management Inc now owns 44,312 shares of the life sciences company’s stock valued at $6,170,000 after purchasing an additional 187 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Illumina by 35.2% during the fourth quarter. First Trust Advisors LP now owns 599,781 shares of the life sciences company’s stock valued at $83,514,000 after buying an additional 156,297 shares during the period. 89.42% of the stock is owned by institutional investors.

Illumina Stock Performance

Shares of ILMN stock opened at $139.02 on Thursday. The company has a market capitalization of $22.15 billion, a P/E ratio of -17.06 and a beta of 1.15. Illumina, Inc. has a fifty-two week low of $89.00 and a fifty-two week high of $148.19. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11. The stock has a 50 day moving average price of $127.33 and a two-hundred day moving average price of $120.42.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.24. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates 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 revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 EPS. Analysts expect that Illumina, Inc. will post 3.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ILMN. Barclays raised shares of Illumina from an “underweight” rating to an “equal weight” rating and set a $125.00 target price for the company in a research report on Wednesday, August 14th. Citigroup upped their price target on Illumina from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Argus upgraded Illumina from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Wednesday, August 28th. TD Cowen upgraded shares of Illumina from a “hold” rating to a “buy” rating and lifted their target price for the stock from $126.00 to $144.00 in a research note on Wednesday, August 14th. Finally, Piper Sandler reduced their price objective on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $152.05.

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.