26,877 Shares in Illumina, Inc. $ILMN Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. purchased a new position in Illumina, Inc. (NASDAQ:ILMN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 26,877 shares of the life sciences company’s stock, valued at approximately $7,311,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Illumina during the 2nd quarter valued at $3,374,423,000. Primecap Management Co. CA bought a new stake in shares of Illumina during the 2nd quarter worth $617,981,000. Jupiter Topco LLC purchased a new position in Illumina in the second quarter worth $358,652,000. WCM Investment Management LLC grew its position in Illumina by 45.5% in the first quarter. WCM Investment Management LLC now owns 5,923,173 shares of the life sciences company’s stock worth $715,579,000 after acquiring an additional 1,851,848 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Illumina in the second quarter worth $293,846,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Illumina Stock Performance

Illumina stock opened at $208.00 on Friday. The company has a quick ratio of 2.05, a current ratio of 2.63 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $31.45 billion, a PE ratio of 35.80, a P/E/G ratio of 3.08 and a beta of 1.46. The firm has a fifty day simple moving average of $249.44 and a two-hundred day simple moving average of $177.79. Illumina, Inc. has a twelve month low of $112.65 and a twelve month high of $309.35.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Thursday, October 29th. The life sciences company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.26. Illumina had a return on equity of 28.38% and a net margin of 19.72%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm earned $1.34 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. Research analysts expect that Illumina, Inc. will post 5.43 EPS for the current year.

Insider Buying and Selling at Illumina

In related news, Director Keith Meister sold 50,000 shares of the stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $227.17, for a total transaction of $11,358,500.00. Following the completion of the sale, the director directly owned 488,917 shares in the company, valued at $111,067,274.89. This represents a 9.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 1,601,541 shares of company stock valued at $354,755,291. Insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

ILMN has been the topic of a number of research analyst reports. Stifel Nicolaus increased their target price on Illumina from $155.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Piper Sandler lifted their price target on Illumina from $225.00 to $305.00 and gave the stock an “overweight” rating in a research note on Monday, September 28th. Weiss Ratings raised Illumina from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday. Leerink Partners upped their price objective on Illumina from $220.00 to $300.00 and gave the stock an “outperform” rating in a report on Tuesday, September 29th. Finally, Stephens lowered Illumina from an “overweight” rating to an “equal weight” rating and set a $275.00 price objective on the stock. in a research report on Friday, October 23rd. Ten research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $244.24.

Illumina Profile

Illumina, Inc is a biotechnology company that develops and manufactures genomics and genetic-analysis technologies. Its products are used to study DNA and RNA in applications including biomedical research, clinical testing, pharmaceutical development, reproductive health, oncology and population genomics.

The company’s offerings include next-generation sequencing systems, consumable flow cells and reagent kits, microarrays, and genomic data-analysis software. Its sequencing portfolio includes instruments such as the NovaSeq, NextSeq, MiSeq and iSeq platforms, while its informatics products include the DRAGEN platform, which supports the processing and interpretation of sequencing data.