Farther Finance Advisors LLC Increases Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Farther Finance Advisors LLC lifted its stake in Illumina, Inc. (NASDAQ:ILMN) by 95.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,296 shares of the life sciences company’s stock after acquiring an additional 1,123 shares during the quarter. Farther Finance Advisors LLC’s holdings in Illumina were worth $180,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new position in Illumina in the fourth quarter worth approximately $40,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Illumina in the 4th quarter worth $45,000. Assetmark Inc. raised its holdings in Illumina by 954.8% in the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock worth $44,000 after purchasing an additional 296 shares during the period. Lee Danner & Bass Inc. purchased a new position in Illumina during the fourth quarter valued at $48,000. Finally, First Horizon Advisors Inc. lifted its position in Illumina by 73.5% during the fourth quarter. First Horizon Advisors Inc. now owns 439 shares of the life sciences company’s stock valued at $59,000 after purchasing an additional 186 shares in the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on ILMN shares. Hsbc Global Res cut Illumina from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Guggenheim reduced their target price on shares of Illumina from $122.00 to $114.00 and set a “buy” rating for the company in a report on Friday, May 9th. Piper Sandler decreased their target price on shares of Illumina from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday, May 15th. Barclays dropped their price target on shares of Illumina from $100.00 to $77.00 and set an “underweight” rating for the company in a research report on Thursday, April 10th. Finally, Morgan Stanley reduced their price objective on shares of Illumina from $136.00 to $100.00 and set an “equal weight” rating for the company in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Illumina has a consensus rating of “Moderate Buy” and a consensus target price of $126.94.

Insider Activity at Illumina

In related news, CFO Ankur Dhingra acquired 6,100 shares of Illumina stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the purchase, the chief financial officer now directly owns 24,906 shares of the company’s stock, valued at $2,022,616.26. The trade was a 32.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

Illumina Stock Performance

Shares of Illumina stock opened at $90.26 on Friday. The business has a 50-day simple moving average of $80.41 and a 200-day simple moving average of $101.42. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.48 and a current ratio of 1.86. Illumina, Inc. has a one year low of $68.70 and a one year high of $156.66. The company has a market cap of $14.29 billion, a PE ratio of -14.87, a P/E/G ratio of 1.77 and a beta of 1.32.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Illumina had a positive return on equity of 25.54% and a negative net margin of 22.25%. Illumina’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.98 earnings per share. On average, equities research analysts forecast that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

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.