Securian Asset Management Inc. Buys 3,384 Shares of Illumina, Inc. (NASDAQ:ILMN)

Securian Asset Management Inc. grew its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 36.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,705 shares of the life sciences company’s stock after buying an additional 3,384 shares during the quarter. Securian Asset Management Inc.’s holdings in Illumina were worth $1,326,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. increased its holdings in Illumina by 426.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,460 shares of the life sciences company’s stock valued at $2,123,000 after buying an additional 12,521 shares during the last quarter. Findlay Park Partners LLP purchased a new stake in Illumina in the first quarter worth about $100,120,000. abrdn plc lifted its position in shares of Illumina by 764.9% during the 4th quarter. abrdn plc now owns 339,023 shares of the life sciences company’s stock valued at $47,206,000 after buying an additional 299,827 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in Illumina during the 1st quarter worth approximately $4,527,000. Finally, Norges Bank bought a new position in shares of Illumina during the 4th quarter valued at approximately $264,636,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. UBS Group lifted their price target on Illumina from $131.00 to $133.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Robert W. Baird boosted their target price on Illumina from $119.00 to $124.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Stephens reaffirmed an “overweight” rating and set a $170.00 price objective on shares of Illumina in a research note on Wednesday, July 10th. StockNews.com began coverage on Illumina in a report on Sunday, June 30th. They issued a “buy” rating on the stock. Finally, Citigroup upped their target price on Illumina from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Illumina has an average rating of “Hold” and an average price target of $149.15.

Illumina Price Performance

Shares of ILMN traded up $1.08 during trading hours on Monday, reaching $124.64. The company had a trading volume of 695,088 shares, compared to its average volume of 2,113,307. The company has a current ratio of 1.75, a quick ratio of 1.36 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 $179.44. The firm has a 50 day simple moving average of $112.98 and a 200-day simple moving average of $122.90. The company has a market capitalization of $19.86 billion, a price-to-earnings ratio of -15.16 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data 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 business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.09 billion. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 earnings per share. Research analysts expect that Illumina, Inc. will post 1.5 earnings per share 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.