AlphaCore Capital LLC Makes New Investment in Illumina, Inc. (NASDAQ:ILMN)

AlphaCore Capital LLC acquired a new position in shares of Illumina, Inc. (NASDAQ:ILMN) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 916 shares of the life sciences company’s stock, valued at approximately $213,000.

Other large investors have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. grew its stake in Illumina by 460.9% during the first quarter. Brown Brothers Harriman & Co. now owns 129 shares of the life sciences company’s stock worth $45,000 after buying an additional 106 shares in the last quarter. HighMark Wealth Management LLC acquired a new stake in shares of Illumina in the 1st quarter valued at approximately $33,000. Elequin Securities LLC acquired a new stake in shares of Illumina in the 4th quarter valued at approximately $29,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Illumina in the 1st quarter valued at approximately $33,000. Finally, Clearstead Trust LLC boosted its stake in shares of Illumina by 125.7% in the 1st quarter. Clearstead Trust LLC now owns 158 shares of the life sciences company’s stock valued at $37,000 after purchasing an additional 88 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. UBS Group reduced their price target on shares of Illumina from $240.00 to $230.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 8th. HSBC reduced their price target on shares of Illumina from $270.00 to $235.00 and set a “buy” rating on the stock in a research note on Monday, August 14th. Bank of America reduced their price target on shares of Illumina from $230.00 to $210.00 in a research note on Thursday, August 10th. Stifel Nicolaus reduced their price target on shares of Illumina from $265.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, August 10th. Finally, Citigroup cut their target price on shares of Illumina from $180.00 to $150.00 and set a “sell” rating on the stock in a research report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $236.05.

Illumina Trading Up 1.7 %

Illumina stock traded up $2.83 during mid-day trading on Wednesday, hitting $164.76. 309,423 shares of the stock were exchanged, compared to its average volume of 1,377,106. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.23. Illumina, Inc. has a 12 month low of $157.82 and a 12 month high of $248.87. The firm’s fifty day simple moving average is $182.68 and its two-hundred day simple moving average is $201.41. The stock has a market capitalization of $26.08 billion, a price-to-earnings ratio of -6.09, a PEG ratio of 8.53 and a beta of 1.12.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Wednesday, August 9th. The life sciences company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.30. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. Illumina had a negative net margin of 93.86% and a positive return on equity of 1.97%. Illumina’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 EPS. Analysts forecast that Illumina, Inc. will post 0.83 EPS for the current year.

Insider Activity

In other news, SVP Susan H. Tousi sold 500 shares of Illumina stock in a transaction on Monday, July 24th. The shares were sold at an average price of $190.08, for a total value of $95,040.00. Following the completion of the sale, the senior vice president now owns 46,022 shares in the company, valued at approximately $8,747,861.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 1,500 shares of company stock worth $278,560 in the last quarter. 0.13% of the stock is owned by corporate insiders.

About Illumina

Illumina, Inc develops, manufactures, and markets life science tools and integrated systems for large-scale analysis of genetic variation and function. 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; and whole-genome sequencing kits, which sequence entire genomes of any size and complexity, and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.