Concurrent Investment Advisors LLC Increases Holdings in Illumina, Inc. (NASDAQ:ILMN)

Concurrent Investment Advisors LLC raised its stake in Illumina, Inc. (NASDAQ:ILMN) by 8.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,731 shares of the life sciences company’s stock after buying an additional 131 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Illumina were worth $231,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ILMN. WCM Investment Management LLC boosted its position in shares of Illumina by 26.6% during the 4th quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company’s stock valued at $551,625,000 after acquiring an additional 867,673 shares during the last quarter. Geode Capital Management LLC raised its stake in Illumina by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,727,827 shares of the life sciences company’s stock worth $354,933,000 after purchasing an additional 48,018 shares during the period. Primecap Management Co. CA boosted its holdings in Illumina by 3.6% in the 3rd quarter. Primecap Management Co. CA now owns 2,516,359 shares of the life sciences company’s stock valued at $328,158,000 after purchasing an additional 87,599 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Illumina by 40.5% in the 3rd quarter. Janus Henderson Group PLC now owns 2,168,057 shares of the life sciences company’s stock valued at $282,735,000 after buying an additional 625,245 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Illumina by 4.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,260,137 shares of the life sciences company’s stock worth $164,334,000 after buying an additional 54,319 shares during the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on ILMN. JPMorgan Chase & Co. upped their target price on shares of Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. TD Cowen lowered shares of Illumina from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $177.00 to $140.00 in a report on Friday, February 7th. Citigroup downgraded shares of Illumina from a “buy” rating to a “neutral” rating and dropped their target price for the company from $190.00 to $165.00 in a report on Wednesday, December 11th. Guggenheim decreased their price target on Illumina from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, Piper Sandler raised their price target on Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.45.

Illumina Stock Performance

NASDAQ:ILMN opened at $95.73 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42. The firm has a market cap of $15.16 billion, a PE ratio of -12.46, a P/E/G ratio of 1.60 and a beta of 1.10. The firm has a 50 day simple moving average of $126.02 and a 200-day simple moving average of $133.80. Illumina, Inc. has a 1-year low of $91.92 and a 1-year high of $156.66.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. On average, equities analysts expect that Illumina, Inc. will post 4.51 EPS for the current 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.