Ballentine Partners LLC Invests $268,000 in Illumina, Inc. (NASDAQ:ILMN)

Ballentine Partners LLC acquired a new position in shares of Illumina, Inc. (NASDAQ:ILMN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,004 shares of the life sciences company’s stock, valued at approximately $268,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its stake in Illumina by 25.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 535 shares of the life sciences company’s stock worth $71,000 after purchasing an additional 109 shares during the last quarter. HB Wealth Management LLC raised its holdings in shares of Illumina by 31.5% during the 4th quarter. HB Wealth Management LLC now owns 3,608 shares of the life sciences company’s stock valued at $482,000 after buying an additional 864 shares in the last quarter. Arkadios Wealth Advisors lifted its position in Illumina by 1.4% in the 4th quarter. Arkadios Wealth Advisors now owns 9,833 shares of the life sciences company’s stock worth $1,314,000 after buying an additional 131 shares during the last quarter. Brooklyn Investment Group boosted its stake in Illumina by 20.5% in the fourth quarter. Brooklyn Investment Group now owns 611 shares of the life sciences company’s stock worth $82,000 after buying an additional 104 shares in the last quarter. Finally, Sax Wealth Advisors LLC purchased a new position in shares of Illumina during the fourth quarter worth approximately $561,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ILMN shares. Barclays upped their price objective on shares of Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Hsbc Global Res upgraded Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price objective on the stock in a report on Thursday, October 17th. Morgan Stanley dropped their target price on Illumina from $156.00 to $150.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Leerink Partners lifted their price target on Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Piper Sandler dropped their price objective on Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Eight research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Illumina has a consensus rating of “Moderate Buy” and a consensus target price of $165.63.

Illumina Stock Up 1.1 %

ILMN stock opened at $136.22 on Friday. Illumina, Inc. has a fifty-two week low of $100.08 and a fifty-two week high of $156.66. The company has a market capitalization of $21.60 billion, a price-to-earnings ratio of -13.68 and a beta of 1.11. The business’s 50 day moving average price is $138.91 and its two-hundred day moving average price is $134.26. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.26. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 earnings per share. As a group, analysts forecast that Illumina, Inc. will post 4.13 earnings per share 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.