Procyon Advisors LLC Raises Stock Holdings in Illumina, Inc. (NASDAQ:ILMN)

Procyon Advisors LLC boosted its position in Illumina, Inc. (NASDAQ:ILMN) by 2.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 14,453 shares of the life sciences company’s stock after buying an additional 319 shares during the quarter. Procyon Advisors LLC’s holdings in Illumina were worth $1,931,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its position in Illumina by 1.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 319,834 shares of the life sciences company’s stock valued at $33,384,000 after acquiring an additional 3,564 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of Illumina during the second quarter valued at approximately $44,349,000. Edgestream Partners L.P. lifted its holdings in shares of Illumina by 242.0% during the second quarter. Edgestream Partners L.P. now owns 9,551 shares of the life sciences company’s stock valued at $997,000 after purchasing an additional 6,758 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Illumina by 130.5% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,087 shares of the life sciences company’s stock worth $740,000 after purchasing an additional 4,013 shares in the last quarter. Finally, Amalgamated Bank grew its stake in shares of Illumina by 140.3% in the 2nd quarter. Amalgamated Bank now owns 80,522 shares of the life sciences company’s stock worth $8,405,000 after buying an additional 47,014 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Illumina Stock Performance

ILMN opened at $136.67 on Friday. The company’s 50 day moving average is $139.88 and its 200 day moving average is $133.16. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. The company has a market cap of $21.68 billion, a price-to-earnings ratio of -13.72 and a beta of 1.11. Illumina, Inc. has a 12-month low of $100.08 and a 12-month high of $156.66.

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 business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 EPS. On average, equities research analysts predict that Illumina, Inc. will post 4.11 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Morgan Stanley lowered their price objective on Illumina from $156.00 to $150.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Leerink Partners upped their price target on shares of Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Piper Sandler cut their price objective on shares of Illumina from $195.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Hsbc Global Res raised shares of Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 target price for the company in a report on Thursday, October 17th. Finally, Royal Bank of Canada increased their price target on shares of Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $165.63.

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.