DnB Asset Management AS Increases Position in Illumina, Inc. (NASDAQ:ILMN)

DnB Asset Management AS raised its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 120.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,376 shares of the life sciences company’s stock after purchasing an additional 32,385 shares during the period. DnB Asset Management AS’s holdings in Illumina were worth $7,934,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA lifted its position in Illumina by 245.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,182,454 shares of the life sciences company’s stock worth $158,011,000 after buying an additional 840,423 shares during the last quarter. AKO Capital LLP bought a new stake in shares of Illumina in the 4th quarter worth approximately $66,185,000. Norges Bank purchased a new stake in shares of Illumina in the 4th quarter valued at $228,714,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Illumina during the 4th quarter valued at $493,000. Finally, Elo Mutual Pension Insurance Co raised its position in Illumina by 10.1% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 15,581 shares of the life sciences company’s stock worth $2,082,000 after purchasing an additional 1,431 shares during the period. Institutional investors own 89.42% of the company’s stock.

Illumina Price Performance

Shares of ILMN stock opened at $80.00 on Friday. The business’s fifty day moving average is $102.80 and its 200 day moving average is $126.81. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. The stock has a market cap of $12.67 billion, a price-to-earnings ratio of -10.42, a PEG ratio of 1.60 and a beta of 1.17. Illumina, Inc. has a twelve month low of $79.30 and a twelve month high of $156.66.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ILMN shares. Robert W. Baird cut their price target on shares of Illumina from $127.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Stephens restated an “overweight” rating and set a $156.00 target price on shares of Illumina in a report on Tuesday, March 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. Barclays reissued an “underweight” rating on shares of Illumina in a research note on Tuesday, March 11th. Finally, Hsbc Global Res downgraded shares of Illumina from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Illumina presently has an average rating of “Moderate Buy” and a consensus price target of $140.90.

Illumina Company 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.