Private Trust Co. NA Raises Stock Holdings in Illumina, Inc. (NASDAQ:ILMN)

Private Trust Co. NA increased its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 42.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 756 shares of the life sciences company’s stock after purchasing an additional 227 shares during the quarter. Private Trust Co. NA’s holdings in Illumina were worth $105,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Illumina in the third quarter valued at about $29,558,000. Weil Company Inc. raised its stake in Illumina by 59.2% in the third quarter. Weil Company Inc. now owns 22,963 shares of the life sciences company’s stock valued at $3,152,000 after buying an additional 8,539 shares during the last quarter. Vanguard Group Inc. raised its stake in Illumina by 15.0% in the third quarter. Vanguard Group Inc. now owns 17,967,758 shares of the life sciences company’s stock valued at $2,466,614,000 after buying an additional 2,336,935 shares during the last quarter. Harvest Fund Management Co. Ltd raised its stake in Illumina by 60.6% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,246 shares of the life sciences company’s stock valued at $171,000 after buying an additional 470 shares during the last quarter. Finally, VisionPoint Advisory Group LLC raised its stake in Illumina by 344.6% in the third quarter. VisionPoint Advisory Group LLC now owns 249 shares of the life sciences company’s stock valued at $34,000 after buying an additional 193 shares during the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Jacob Thaysen bought 7,330 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were acquired at an average price of $135.29 per share, for a total transaction of $991,675.70. Following the completion of the transaction, the chief executive officer now directly owns 14,861 shares in the company, valued at approximately $2,010,544.69. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ILMN. Sanford C. Bernstein raised Illumina from an “underperform” rating to a “market perform” rating in a report on Friday, December 15th. Wolfe Research began coverage on Illumina in a report on Wednesday, December 13th. They issued an “outperform” rating and a $175.00 price objective on the stock. Bank of America lowered Illumina from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $140.00 to $100.00 in a report on Tuesday, December 12th. Stephens reissued an “overweight” rating and issued a $170.00 price objective on shares of Illumina in a report on Wednesday, February 14th. Finally, Scotiabank raised Illumina from a “sector perform” rating to a “sector outperform” rating and set a $185.00 price objective on the stock in a report on Monday, December 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $166.70.

Illumina Stock Performance

Shares of ILMN stock opened at $133.57 on Wednesday. The company has a market capitalization of $21.27 billion, a P/E ratio of -18.20 and a beta of 1.19. The business’s 50 day moving average is $136.65 and its two-hundred day moving average is $128.47. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.26. Illumina, Inc. has a 12-month low of $89.00 and a 12-month high of $232.88.

Illumina (NASDAQ:ILMN) last released its earnings results on Thursday, February 8th. The life sciences company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.13. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.09 billion. Illumina had a positive return on equity of 2.20% and a negative net margin of 25.78%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.14 earnings per share. Analysts expect that Illumina, Inc. will post 0.91 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.