Team Hewins LLC Invests $698,000 in Illumina, Inc. (NASDAQ:ILMN)

Team Hewins LLC bought a new stake in Illumina, Inc. (NASDAQ:ILMN) in the fourth quarter, Holdings Channel reports. The institutional investor bought 5,012 shares of the life sciences company’s stock, valued at approximately $698,000.

A number of other hedge funds also recently made changes to their positions in ILMN. Vanguard Group Inc. lifted its position in shares of Illumina by 15.0% during the third quarter. Vanguard Group Inc. now owns 17,967,758 shares of the life sciences company’s stock worth $2,466,614,000 after purchasing an additional 2,336,935 shares in the last quarter. Norges Bank acquired a new position in Illumina in the fourth quarter valued at about $264,636,000. Barclays PLC increased its stake in Illumina by 120.0% during the 3rd quarter. Barclays PLC now owns 1,768,355 shares of the life sciences company’s stock worth $242,758,000 after purchasing an additional 964,709 shares in the last quarter. Nuance Investments LLC acquired a new stake in shares of Illumina during the fourth quarter worth $99,678,000. Finally, abrdn plc boosted its position in shares of Illumina by 764.9% during the fourth quarter. abrdn plc now owns 339,023 shares of the life sciences company’s stock worth $47,206,000 after buying an additional 299,827 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. OTR Global reissued a “mixed” rating on shares of Illumina in a research report on Wednesday, March 20th. Barclays lifted their price target on shares of Illumina from $85.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday, April 10th. Scotiabank dropped their price objective on Illumina from $185.00 to $176.00 and set a “sector outperform” rating for the company in a research report on Monday, May 6th. Stephens reissued an “overweight” rating and set a $170.00 target price on shares of Illumina in a research note on Tuesday, May 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $253.00 price target on shares of Illumina in a research note on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $164.65.

Illumina Price Performance

Shares of NASDAQ ILMN traded up $0.61 during midday trading on Friday, hitting $106.46. 872,159 shares of the company’s stock were exchanged, compared to its average volume of 1,707,749. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The business’s fifty day moving average price is $123.09 and its two-hundred day moving average price is $126.63. The company has a market cap of $16.96 billion, a price-to-earnings ratio of -12.99 and a beta of 1.20. Illumina, Inc. has a 12-month low of $89.00 and a 12-month high of $213.12.

Illumina (NASDAQ:ILMN) last released its 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 positive return on equity of 2.31% and a negative net margin of 28.71%. 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 previous year, the company posted $0.08 EPS. Illumina’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, research analysts forecast that Illumina, Inc. will post 0.87 EPS for the current fiscal year.

About Illumina

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.