Empirical Finance LLC Buys 193 Shares of Illumina, Inc. (NASDAQ:ILMN)

Empirical Finance LLC increased its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 3.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 5,602 shares of the life sciences company’s stock after acquiring an additional 193 shares during the quarter. Empirical Finance LLC’s holdings in Illumina were worth $769,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Findlay Park Partners LLP bought a new stake in Illumina during the first quarter worth $100,120,000. abrdn plc grew its holdings in Illumina by 764.9% during the fourth quarter. abrdn plc now owns 339,023 shares of the life sciences company’s stock worth $47,206,000 after buying an additional 299,827 shares in the last quarter. Norges Bank bought a new stake in Illumina during the fourth quarter worth $264,636,000. International Assets Investment Management LLC grew its holdings in Illumina by 210.5% during the fourth quarter. International Assets Investment Management LLC now owns 48,194 shares of the life sciences company’s stock worth $6,711,000 after buying an additional 32,672 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Illumina by 49.0% during the fourth quarter. BNP Paribas Financial Markets now owns 275,762 shares of the life sciences company’s stock worth $38,397,000 after buying an additional 90,634 shares in the last quarter. Institutional investors own 89.42% of the company’s stock.

Wall Street Analysts Forecast Growth

ILMN has been the subject of several recent research reports. Jefferies Financial Group began coverage on Illumina in a report on Monday, June 3rd. They set a “hold” rating and a $115.00 price target for the company. Scotiabank reduced their price objective on Illumina from $185.00 to $176.00 and set a “sector outperform” rating for the company in a research note on Monday, May 6th. Evercore ISI reduced their price objective on Illumina from $195.00 to $175.00 and set an “outperform” rating for the company in a research note on Tuesday, June 11th. TD Cowen reduced their price objective on Illumina from $140.00 to $122.00 and set a “hold” rating for the company in a research note on Thursday, June 6th. Finally, OTR Global restated a “mixed” rating on shares of Illumina in a research note on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Illumina presently has an average rating of “Hold” and an average price target of $158.57.

Illumina Price Performance

ILMN traded down $1.91 during trading on Friday, reaching $116.09. 1,611,551 shares of the company were exchanged, compared to its average volume of 2,175,307. The company’s 50-day moving average is $108.99 and its two-hundred day moving average is $125.77. The company has a market cap of $18.49 billion, a price-to-earnings ratio of -14.48 and a beta of 1.15. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. Illumina, Inc. has a 12-month low of $89.00 and a 12-month high of $195.64.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 EPS. Research analysts forecast that Illumina, Inc. will post 0.98 earnings per share for the current fiscal 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.