AlphaCore Capital LLC Raises Stock Position in Illumina, Inc. (NASDAQ:ILMN)

AlphaCore Capital LLC lifted its holdings in Illumina, Inc. (NASDAQ:ILMN) by 21.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,116 shares of the life sciences company’s stock after buying an additional 200 shares during the period. AlphaCore Capital LLC’s holdings in Illumina were worth $209,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ILMN. Price T Rowe Associates Inc. MD increased its stake in Illumina by 268.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,113,230 shares of the life sciences company’s stock worth $427,295,000 after acquiring an additional 1,539,186 shares during the last quarter. Norges Bank bought a new position in shares of Illumina during the 4th quarter valued at approximately $284,269,000. Portside Wealth Group LLC purchased a new stake in Illumina during the 2nd quarter valued at $161,798,000. Barclays PLC raised its holdings in Illumina by 265.9% during the 2nd quarter. Barclays PLC now owns 803,646 shares of the life sciences company’s stock valued at $150,673,000 after buying an additional 583,981 shares during the period. Finally, Nomura Holdings Inc. bought a new stake in Illumina in the first quarter worth $125,418,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $200.00 price objective on shares of Illumina in a research report on Thursday, October 12th. Royal Bank of Canada reduced their price objective on shares of Illumina from $337.00 to $328.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 8th. Bank of America dropped their target price on Illumina from $230.00 to $210.00 in a research report on Thursday, August 10th. Piper Sandler cut their target price on Illumina from $200.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Sanford C. Bernstein started coverage on Illumina in a research note on Thursday, September 28th. They set an “underperform” rating and a $111.00 price target for the company. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $194.56.

Illumina Stock Performance

ILMN stock opened at $97.49 on Wednesday. Illumina, Inc. has a 1-year low of $89.00 and a 1-year high of $243.09. The business has a 50-day moving average price of $128.53 and a 200 day moving average price of $168.14. The company has a market capitalization of $15.43 billion, a P/E ratio of -13.69, a PEG ratio of 6.24 and a beta of 1.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.69 and a quick ratio of 1.28.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, November 9th. The life sciences company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.20. Illumina had a negative net margin of 25.20% and a positive return on equity of 2.13%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the firm posted $0.34 EPS. The company’s revenue for the quarter was up .4% on a year-over-year basis. As a group, equities research analysts forecast that Illumina, Inc. will post 0.67 EPS for the current fiscal year.

Insider Buying and Selling

In other Illumina news, SVP Aimee L. Hoyt sold 315 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $112.84, for a total transaction of $35,544.60. Following the sale, the senior vice president now owns 8,314 shares of the company’s stock, valued at approximately $938,151.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Susan H. Tousi sold 500 shares of Illumina stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $167.04, for a total value of $83,520.00. Following the transaction, the senior vice president now owns 45,524 shares of the company’s stock, valued at approximately $7,604,328.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Aimee L. Hoyt sold 315 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $112.84, for a total transaction of $35,544.60. Following the sale, the senior vice president now directly owns 8,314 shares of the company’s stock, valued at approximately $938,151.76. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Illumina Company Profile

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.