Intact Investment Management Inc. Invests $418,000 in Illumina, Inc. (NASDAQ:ILMN)

Intact Investment Management Inc. acquired a new position in Illumina, Inc. (NASDAQ:ILMN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,000 shares of the life sciences company’s stock, valued at approximately $418,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in Illumina by 78.1% during the fourth quarter. Russell Investments Group Ltd. now owns 69,646 shares of the life sciences company’s stock worth $9,725,000 after buying an additional 30,538 shares in the last quarter. Headlands Technologies LLC boosted its holdings in Illumina by 714.2% during the fourth quarter. Headlands Technologies LLC now owns 10,511 shares of the life sciences company’s stock worth $1,464,000 after buying an additional 9,220 shares in the last quarter. Truist Financial Corp boosted its holdings in Illumina by 4.3% during the fourth quarter. Truist Financial Corp now owns 60,101 shares of the life sciences company’s stock worth $8,369,000 after buying an additional 2,462 shares in the last quarter. Motley Fool Asset Management LLC boosted its holdings in Illumina by 6.6% during the fourth quarter. Motley Fool Asset Management LLC now owns 4,314 shares of the life sciences company’s stock worth $601,000 after buying an additional 266 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its holdings in Illumina by 2.5% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 93,042 shares of the life sciences company’s stock worth $12,955,000 after buying an additional 2,237 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Insider Buying and Selling

In other news, CEO Jacob Thaysen acquired 7,330 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was purchased at an average cost of $135.29 per share, for a total transaction of $991,675.70. Following the completion of the transaction, the chief executive officer now owns 14,861 shares in the company, valued at $2,010,544.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ILMN shares. Stephens reissued an “overweight” rating and set a $170.00 price target on shares of Illumina in a report on Wednesday, April 10th. HSBC downgraded shares of Illumina from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $253.00 price objective on shares of Illumina in a report on Tuesday, April 9th. TD Cowen downgraded shares of Illumina from an “outperform” rating to a “market perform” rating and set a $144.00 price objective on the stock. in a report on Thursday, January 4th. Finally, OTR Global reaffirmed a “mixed” rating on shares of Illumina in a report on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Illumina currently has an average rating of “Hold” and a consensus target price of $167.70.

Illumina Stock Up 1.0 %

Illumina stock opened at $122.28 on Monday. Illumina, Inc. has a 12-month low of $89.00 and a 12-month high of $213.91. The company has a 50-day moving average price of $131.51 and a 200 day moving average price of $127.24. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 1.66.

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

About Illumina

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.