Lake Street Advisors Group LLC Makes New Investment in Illumina, Inc. (NASDAQ:ILMN)

Lake Street Advisors Group LLC acquired a new stake in Illumina, Inc. (NASDAQ:ILMN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,590 shares of the life sciences company’s stock, valued at approximately $207,000.

Other institutional investors have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Illumina by 0.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,241 shares of the life sciences company’s stock valued at $53,039,000 after purchasing an additional 2,240 shares during the last quarter. Norden Group LLC purchased a new position in shares of Illumina in the 1st quarter valued at $584,000. First Trust Direct Indexing L.P. acquired a new stake in Illumina during the 1st quarter worth $229,000. HB Wealth Management LLC lifted its position in Illumina by 9.4% in the first quarter. HB Wealth Management LLC now owns 2,479 shares of the life sciences company’s stock valued at $340,000 after acquiring an additional 213 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Illumina by 16.0% in the first quarter. Van ECK Associates Corp now owns 148,672 shares of the life sciences company’s stock valued at $20,416,000 after acquiring an additional 20,521 shares in the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Stock Performance

Shares of Illumina stock opened at $141.95 on Monday. The firm has a market cap of $22.61 billion, a P/E ratio of -7.41 and a beta of 1.15. Illumina, Inc. has a fifty-two week low of $89.00 and a fifty-two week high of $151.40. 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 50 day simple moving average of $134.53 and a 200 day simple moving average of $121.57.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.24. The firm 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 EPS. Sell-side analysts predict that Illumina, Inc. will post 3.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on ILMN shares. Robert W. Baird boosted their target price on Illumina from $119.00 to $124.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut their target price on shares of Illumina from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Citigroup increased their price target on shares of Illumina from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Daiwa America raised shares of Illumina to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Scotiabank reduced their target price on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $154.33.

Illumina 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.