2,772 Shares in Illumina, Inc. (NASDAQ:ILMN) Purchased by Wedmont Private Capital

Wedmont Private Capital purchased a new stake in Illumina, Inc. (NASDAQ:ILMN) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,772 shares of the life sciences company’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ILMN. Fourth Dimension Wealth LLC acquired a new stake in shares of Illumina in the fourth quarter valued at $40,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Illumina in the fourth quarter valued at about $45,000. Assetmark Inc. increased its stake in shares of Illumina by 954.8% in the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock valued at $44,000 after acquiring an additional 296 shares during the last quarter. Lee Danner & Bass Inc. acquired a new stake in Illumina in the fourth quarter worth $48,000. Finally, V Square Quantitative Management LLC raised its stake in Illumina by 50.6% during the 4th quarter. V Square Quantitative Management LLC now owns 393 shares of the life sciences company’s stock worth $52,000 after buying an additional 132 shares during the period. Institutional investors own 89.42% of the company’s stock.

Illumina Stock Performance

NASDAQ ILMN opened at $88.13 on Friday. Illumina, Inc. has a 1 year low of $68.70 and a 1 year high of $156.66. The firm’s 50 day simple moving average is $78.75 and its 200 day simple moving average is $103.31. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $13.95 billion, a price-to-earnings ratio of -11.48, a P/E/G ratio of 1.60 and a beta of 1.32.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company earned $0.98 EPS. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, research analysts expect that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Ankur Dhingra acquired 6,100 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was bought at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the completion of the transaction, the chief financial officer now directly owns 24,906 shares in the company, valued at $2,022,616.26. This represents a 32.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ILMN. Morgan Stanley dropped their target price on shares of Illumina from $136.00 to $100.00 and set an “equal weight” rating on the stock in a report on Monday, May 12th. Royal Bank of Canada reduced their price target on Illumina from $128.00 to $112.00 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. Citigroup decreased their price objective on shares of Illumina from $90.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Canaccord Genuity Group lifted their target price on Illumina from $87.00 to $99.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Stephens reiterated an “overweight” rating and issued a $105.00 price target on shares of Illumina in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Illumina currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.94.

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.