Envestnet Asset Management Inc. Buys 3,564 Shares of Illumina, Inc. (NASDAQ:ILMN)

Envestnet Asset Management Inc. lifted its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 319,834 shares of the life sciences company’s stock after purchasing an additional 3,564 shares during the period. Envestnet Asset Management Inc. owned 0.20% of Illumina worth $33,384,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. lifted its stake in Illumina by 426.0% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,460 shares of the life sciences company’s stock valued at $2,123,000 after acquiring an additional 12,521 shares during the last quarter. Findlay Park Partners LLP acquired a new stake in Illumina in the 1st quarter valued at about $100,120,000. Jupiter Asset Management Ltd. bought a new position in Illumina during the first quarter worth about $4,527,000. US Bancorp DE grew its holdings in Illumina by 33.9% during the first quarter. US Bancorp DE now owns 31,600 shares of the life sciences company’s stock worth $4,339,000 after purchasing an additional 8,001 shares during the period. Finally, BNP Paribas Financial Markets increased its position in Illumina by 41.4% during the first quarter. BNP Paribas Financial Markets now owns 390,035 shares of the life sciences company’s stock worth $53,560,000 after buying an additional 114,263 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Stock Down 2.4 %

NASDAQ ILMN opened at $131.20 on Friday. The business has a fifty day moving average price of $125.25 and a two-hundred day moving average price of $120.67. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86. Illumina, Inc. has a fifty-two week low of $89.00 and a fifty-two week high of $148.19. The stock has a market capitalization of $20.90 billion, a PE ratio of -16.10 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last released its earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.24. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the company earned $0.32 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. Equities analysts expect that Illumina, Inc. will post 3.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

ILMN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on Illumina from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Daiwa Capital Markets raised shares of Illumina from a “neutral” rating to a “buy” rating and increased their price objective for the company from $120.00 to $154.00 in a research report on Friday, August 16th. Piper Sandler reduced their target price on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $242.00 price target on shares of Illumina in a report on Wednesday, August 14th. Finally, Jefferies Financial Group began coverage on Illumina in a report on Monday, June 3rd. They set a “hold” rating and a $115.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $151.05.

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.