Carret Asset Management LLC Buys New Stake in Illumina, Inc. (NASDAQ:ILMN)

Carret Asset Management LLC bought a new stake in shares of Illumina, Inc. (NASDAQ:ILMN) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,594 shares of the life sciences company’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ILMN. Bleakley Financial Group LLC purchased a new stake in Illumina during the 4th quarter worth $751,000. Zacks Investment Management purchased a new stake in Illumina during the 3rd quarter worth $2,924,000. Van ECK Associates Corp increased its position in shares of Illumina by 17.5% in the 4th quarter. Van ECK Associates Corp now owns 152,265 shares of the life sciences company’s stock worth $20,347,000 after purchasing an additional 22,718 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Illumina in the 4th quarter worth about $1,464,000. Finally, Allworth Financial LP increased its position in shares of Illumina by 720.7% in the 4th quarter. Allworth Financial LP now owns 7,132 shares of the life sciences company’s stock worth $1,001,000 after purchasing an additional 6,263 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Canaccord Genuity Group dropped their target price on shares of Illumina from $135.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday. Piper Sandler boosted their target price on shares of Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Royal Bank of Canada dropped their target price on shares of Illumina from $247.00 to $128.00 and set an “outperform” rating for the company in a research report on Wednesday. TD Cowen downgraded shares of Illumina from a “buy” rating to a “hold” rating and dropped their target price for the stock from $177.00 to $140.00 in a research report on Friday, February 7th. Finally, Hsbc Global Res downgraded shares of Illumina from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illumina currently has a consensus rating of “Moderate Buy” and an average target price of $140.90.

Illumina Trading Up 1.8 %

Shares of NASDAQ:ILMN opened at $85.60 on Friday. The stock has a market capitalization of $13.56 billion, a price-to-earnings ratio of -11.15, a PEG ratio of 1.60 and a beta of 1.17. Illumina, Inc. has a 1-year low of $80.18 and a 1-year high of $156.66. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. The company has a 50 day moving average price of $113.52 and a 200 day moving average price of $129.88.

Illumina (NASDAQ:ILMN) last issued its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. On average, research analysts anticipate that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

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.