Jennison Associates LLC Takes Position in Illumina, Inc. (NASDAQ:ILMN)

Jennison Associates LLC bought a new stake in Illumina, Inc. (NASDAQ:ILMN) in the 4th quarter, Holdings Channel.com reports. The firm bought 176,430 shares of the life sciences company’s stock, valued at approximately $24,566,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Illumina in the 3rd quarter valued at about $30,000. VisionPoint Advisory Group LLC lifted its holdings in shares of Illumina by 344.6% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 249 shares of the life sciences company’s stock valued at $34,000 after purchasing an additional 193 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in shares of Illumina in the 4th quarter valued at about $37,000. Gradient Investments LLC lifted its holdings in shares of Illumina by 375.0% in the 4th quarter. Gradient Investments LLC now owns 285 shares of the life sciences company’s stock valued at $40,000 after purchasing an additional 225 shares during the last quarter. Finally, North Star Investment Management Corp. lifted its holdings in shares of Illumina by 183.0% in the 4th quarter. North Star Investment Management Corp. now owns 300 shares of the life sciences company’s stock valued at $42,000 after purchasing an additional 194 shares during the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $253.00 target price on shares of Illumina in a report on Tuesday, April 9th. StockNews.com raised Illumina from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. HSBC downgraded Illumina from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Stephens reaffirmed an “overweight” rating and set a $170.00 price objective on shares of Illumina in a research note on Wednesday, April 10th. Finally, OTR Global reaffirmed a “mixed” rating on shares of Illumina in a research note on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $167.70.

Illumina Trading Down 1.3 %

ILMN opened at $122.87 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 1.66. The stock’s 50 day simple moving average is $132.44 and its 200 day simple moving average is $127.54. Illumina, Inc. has a 1-year low of $89.00 and a 1-year high of $228.13.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Thursday, February 8th. The life sciences company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.13. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Illumina had a positive return on equity of 2.20% and a negative net margin of 25.78%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 EPS. On average, sell-side analysts anticipate that Illumina, Inc. will post 0.91 earnings per share for the current year.

Insider Buying and Selling at Illumina

In related news, CEO Jacob Thaysen bought 7,330 shares of the stock in a transaction on Thursday, February 22nd. The shares were purchased at an average price of $135.29 per share, for a total transaction of $991,675.70. Following the acquisition, the chief executive officer now owns 14,861 shares in the company, valued at $2,010,544.69. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is owned by insiders.

Illumina Company 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.