Whalen Wealth Management Inc. Makes New $480,000 Investment in Illumina, Inc. (NASDAQ:ILMN)

Whalen Wealth Management Inc. purchased a new stake in Illumina, Inc. (NASDAQ:ILMN) in the third quarter, according to its most recent filing with the SEC. The fund purchased 3,677 shares of the life sciences company’s stock, valued at approximately $480,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its stake in Illumina by 41.5% in the first quarter. Janney Montgomery Scott LLC now owns 3,070 shares of the life sciences company’s stock valued at $422,000 after acquiring an additional 900 shares during the period. Orion Portfolio Solutions LLC lifted its position in Illumina by 10.4% in the 1st quarter. Orion Portfolio Solutions LLC now owns 7,918 shares of the life sciences company’s stock valued at $1,087,000 after purchasing an additional 746 shares during the last quarter. Edgestream Partners L.P. bought a new stake in Illumina in the 1st quarter valued at about $384,000. O Shaughnessy Asset Management LLC grew its position in Illumina by 91.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,199 shares of the life sciences company’s stock worth $577,000 after purchasing an additional 2,009 shares during the last quarter. Finally, UniSuper Management Pty Ltd increased its stake in shares of Illumina by 392.7% in the first quarter. UniSuper Management Pty Ltd now owns 8,810 shares of the life sciences company’s stock valued at $1,210,000 after purchasing an additional 7,022 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Trading Down 3.2 %

Shares of NASDAQ:ILMN opened at $130.74 on Tuesday. Illumina, Inc. has a 12-month low of $93.39 and a 12-month high of $156.66. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. The firm has a fifty day moving average of $139.82 and a two-hundred day moving average of $124.35.

Illumina (NASDAQ:ILMN) last issued its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.26. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 EPS. Equities analysts predict that Illumina, Inc. will post 4.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Scotiabank decreased their price objective on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a report on Thursday, August 15th. Royal Bank of Canada lifted their price objective on shares of Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. StockNews.com initiated coverage on shares of Illumina in a research report on Thursday, August 29th. They issued a “buy” rating for the company. Argus upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Wednesday, August 28th. Finally, Piper Sandler dropped their target price on Illumina from $195.00 to $185.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.00.

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.