Smith Group Asset Management LLC Makes New Investment in Illumina, Inc. (NASDAQ:ILMN)

Smith Group Asset Management LLC purchased a new stake in Illumina, Inc. (NASDAQ:ILMN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,000 shares of the life sciences company’s stock, valued at approximately $3,341,000.

A number of other large investors also recently made changes to their positions in the stock. Empowered Funds LLC increased its holdings in Illumina by 1.7% in the third quarter. Empowered Funds LLC now owns 3,960 shares of the life sciences company’s stock valued at $516,000 after purchasing an additional 66 shares during the last quarter. Caprock Group LLC grew its position in shares of Illumina by 3.0% during the 3rd quarter. Caprock Group LLC now owns 2,884 shares of the life sciences company’s stock worth $376,000 after buying an additional 83 shares during the period. Integrated Advisors Network LLC increased its stake in shares of Illumina by 2.0% in the 3rd quarter. Integrated Advisors Network LLC now owns 4,484 shares of the life sciences company’s stock valued at $585,000 after acquiring an additional 90 shares during the last quarter. Moors & Cabot Inc. raised its position in shares of Illumina by 1.7% in the 3rd quarter. Moors & Cabot Inc. now owns 5,818 shares of the life sciences company’s stock valued at $759,000 after acquiring an additional 95 shares during the period. Finally, Carson Advisory Inc. grew its holdings in Illumina by 3.8% during the third quarter. Carson Advisory Inc. now owns 2,757 shares of the life sciences company’s stock valued at $360,000 after purchasing an additional 102 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Stock Performance

Shares of NASDAQ ILMN opened at $133.61 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. The stock has a 50 day moving average price of $139.05 and a 200 day moving average price of $135.07. The stock has a market capitalization of $21.19 billion, a PE ratio of -13.41 and a beta of 1.11. Illumina, Inc. has a 52 week low of $100.08 and a 52 week high of $156.66.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.88 by $0.26. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the firm posted $0.33 EPS. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. Analysts predict that Illumina, Inc. will post 4.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ILMN shares. Leerink Partners increased their target price on shares of Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Morgan Stanley dropped their price objective on Illumina from $156.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Piper Sandler lowered their price target on Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Canaccord Genuity Group raised their price target on Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $165.63.

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.