Wahed Invest LLC Grows Position in Illumina, Inc. (NASDAQ:ILMN)

Wahed Invest LLC lifted its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 15.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,103 shares of the life sciences company’s stock after buying an additional 408 shares during the period. Wahed Invest LLC’s holdings in Illumina were worth $426,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ILMN. Trivant Custom Portfolio Group LLC lifted its holdings in Illumina by 166.7% in the first quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock valued at $27,000 after acquiring an additional 125 shares during the period. Wetzel Investment Advisors Inc. bought a new position in shares of Illumina in the fourth quarter worth about $37,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Illumina by 86.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock worth $39,000 after buying an additional 132 shares during the period. MeadowBrook Investment Advisors LLC bought a new position in shares of Illumina in the fourth quarter worth about $42,000. Finally, First United Bank & Trust bought a new position in shares of Illumina in the fourth quarter worth about $46,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ILMN has been the topic of several recent research reports. Royal Bank of Canada decreased their price objective on Illumina from $249.00 to $242.00 and set an “outperform” rating on the stock in a research note on Monday, July 1st. Scotiabank decreased their price objective on Illumina from $185.00 to $176.00 and set a “sector outperform” rating on the stock in a research note on Monday, May 6th. Barclays lifted their target price on Illumina from $85.00 to $100.00 and gave the company an “underweight” rating in a research note on Wednesday, April 10th. Robert W. Baird boosted their price target on Illumina from $125.00 to $128.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Finally, Jefferies Financial Group assumed coverage on Illumina in a report on Monday, June 3rd. They issued a “hold” rating and a $115.00 price target on the stock. Two analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $158.57.

Illumina Trading Down 3.8 %

Shares of NASDAQ ILMN traded down $4.65 during trading hours on Friday, hitting $117.70. 1,823,614 shares of the company traded hands, compared to its average volume of 2,110,738. The stock has a market capitalization of $18.75 billion, a price-to-earnings ratio of -15.01 and a beta of 1.15. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average price is $111.07 and its 200 day moving average price is $123.81. Illumina, Inc. has a 12 month low of $89.00 and a 12 month high of $195.64.

Illumina (NASDAQ:ILMN) last released its earnings results on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. On average, equities research analysts anticipate that Illumina, Inc. will post 1.5 earnings per share for the current fiscal year.

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.