Norges Bank Makes New Investment in Illumina, Inc. (NASDAQ:ILMN)

Norges Bank acquired a new stake in Illumina, Inc. (NASDAQ:ILMN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,711,544 shares of the life sciences company’s stock, valued at approximately $228,714,000. Norges Bank owned approximately 1.08% of Illumina at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ILMN. Bank of Stockton grew its stake in Illumina by 3.8% in the fourth quarter. Bank of Stockton now owns 2,162 shares of the life sciences company’s stock valued at $289,000 after purchasing an additional 80 shares in the last quarter. Stephens Inc. AR grew its stake in shares of Illumina by 1.4% in the fourth quarter. Stephens Inc. AR now owns 6,623 shares of the life sciences company’s stock valued at $885,000 after buying an additional 90 shares in the last quarter. Spire Wealth Management increased its holdings in Illumina by 26.0% during the fourth quarter. Spire Wealth Management now owns 470 shares of the life sciences company’s stock worth $63,000 after buying an additional 97 shares during the last quarter. IFP Advisors Inc raised its position in Illumina by 19.1% during the fourth quarter. IFP Advisors Inc now owns 617 shares of the life sciences company’s stock worth $82,000 after acquiring an additional 99 shares in the last quarter. Finally, Brooklyn Investment Group lifted 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 valued at $82,000 after acquiring an additional 104 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. HSBC lowered shares of Illumina from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Friday, February 28th. Piper Sandler upped their price objective on Illumina from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Royal Bank of Canada reduced their target price on Illumina from $247.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday, March 12th. Stephens restated an “overweight” rating and issued a $156.00 price target on shares of Illumina in a research note on Tuesday, March 11th. Finally, Guggenheim reduced their price objective on shares of Illumina from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $140.90.

Illumina Stock Down 2.8 %

Shares of ILMN opened at $80.00 on Monday. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. Illumina, Inc. has a 12 month low of $79.30 and a 12 month high of $156.66. The firm’s 50 day moving average is $102.80 and its 200-day moving average is $126.82. The stock has a market capitalization of $12.67 billion, a PE ratio of -10.42, a P/E/G ratio of 1.60 and a beta of 1.17.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 EPS 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%. Equities research analysts forecast 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.