Gateway Investment Advisers LLC Raises Position in Illumina, Inc. (NASDAQ:ILMN)

Gateway Investment Advisers LLC lifted its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 8.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,463 shares of the life sciences company’s stock after acquiring an additional 2,196 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Illumina were worth $3,937,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Versant Capital Management Inc increased its holdings in Illumina by 153.7% during the 4th quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock worth $32,000 after purchasing an additional 146 shares during the period. TD Private Client Wealth LLC grew its position in shares of Illumina by 58.5% during the third quarter. TD Private Client Wealth LLC now owns 382 shares of the life sciences company’s stock worth $50,000 after buying an additional 141 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of Illumina by 65.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock worth $56,000 after buying an additional 168 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Illumina in the second quarter worth approximately $61,000. Finally, Private Trust Co. NA lifted its stake in Illumina by 81.2% in the third quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock worth $62,000 after acquiring an additional 212 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Illumina Price Performance

Shares of NASDAQ ILMN opened at $136.67 on Friday. The stock has a fifty day moving average price of $139.88 and a 200 day moving average price of $133.16. Illumina, Inc. has a 1-year low of $100.08 and a 1-year 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 company has a market cap of $21.68 billion, a PE ratio of -13.72 and a beta of 1.11.

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, beating the consensus estimate of $0.88 by $0.26. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 earnings per share. Sell-side analysts forecast that Illumina, Inc. will post 4.11 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ILMN shares. Canaccord Genuity Group raised their price objective on shares of Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Morgan Stanley decreased their price target on Illumina from $156.00 to $150.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Barclays increased their price objective on Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Piper Sandler decreased their target price on Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Finally, Robert W. Baird increased their price target on shares of Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Illumina has an average rating of “Moderate Buy” and a consensus price target 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.