Burns Matteson Capital Management LLC Acquires New Stake in Illumina, Inc. (NASDAQ:ILMN)

Burns Matteson Capital Management LLC acquired a new stake in Illumina, Inc. (NASDAQ:ILMN) during the 1st quarter, Holdings Channel reports. The fund acquired 2,281 shares of the life sciences company’s stock, valued at approximately $313,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Trivant Custom Portfolio Group LLC increased its stake in Illumina by 166.7% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock valued at $27,000 after buying an additional 125 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in shares of Illumina during the 4th quarter worth about $37,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Illumina by 86.8% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock worth $39,000 after purchasing an additional 132 shares during the last quarter. Gradient Investments LLC increased its stake in shares of Illumina by 375.0% during the 4th quarter. Gradient Investments LLC now owns 285 shares of the life sciences company’s stock worth $40,000 after purchasing an additional 225 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC acquired a new position in shares of Illumina during the 4th quarter worth about $42,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Illumina Price Performance

Shares of Illumina stock traded up $1.01 on Thursday, reaching $117.30. 1,551,710 shares of the stock were exchanged, compared to its average volume of 2,136,999. The firm’s 50 day moving average is $109.69 and its 200-day moving average is $124.39. Illumina, Inc. has a one year low of $89.00 and a one year high of $195.64. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 1.75. The firm has a market cap of $18.69 billion, a PE ratio of -14.39 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the firm posted $0.08 EPS. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, analysts anticipate that Illumina, Inc. will post 1.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Citigroup upgraded shares of Illumina from a “neutral” rating to a “buy” rating and set a $140.00 price objective on the stock in a research note on Wednesday, July 10th. Stephens reiterated an “overweight” rating and issued a $170.00 price target on shares of Illumina in a research note on Wednesday, July 10th. Scotiabank decreased their price target on shares of Illumina from $185.00 to $176.00 and set a “sector outperform” rating on the stock in a research note on Monday, May 6th. Jefferies Financial Group initiated coverage on shares of Illumina in a research note on Monday, June 3rd. They issued a “hold” rating and a $115.00 price target on the stock. Finally, StockNews.com initiated coverage on shares of Illumina in a research note on Sunday, June 30th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $158.57.

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.