537,716 Shares in Illumina, Inc. (NASDAQ:ILMN) Purchased by Spyglass Capital Management LLC

Spyglass Capital Management LLC acquired a new stake in Illumina, Inc. (NASDAQ:ILMN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 537,716 shares of the life sciences company’s stock, valued at approximately $71,855,000. Illumina accounts for about 4.0% of Spyglass Capital Management LLC’s investment portfolio, making the stock its 14th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Golden State Wealth Management LLC acquired a new position in Illumina during the fourth quarter worth approximately $32,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Illumina during the fourth quarter worth approximately $45,000. Assetmark Inc. lifted its holdings in Illumina by 954.8% in the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock worth $44,000 after buying an additional 296 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in shares of Illumina during the fourth quarter worth about $48,000. Finally, V Square Quantitative Management LLC lifted its position in shares of Illumina by 50.6% in the 4th quarter. V Square Quantitative Management LLC now owns 393 shares of the life sciences company’s stock worth $52,000 after buying an additional 132 shares during the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Trading Up 3.4%

Illumina stock opened at $83.62 on Monday. Illumina, Inc. has a 12-month low of $68.70 and a 12-month high of $156.66. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $13.24 billion, a price-to-earnings ratio of -10.89, a P/E/G ratio of 1.60 and a beta of 1.35. The firm has a 50 day moving average of $78.48 and a 200 day moving average of $110.89.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 EPS. As a group, research analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ILMN. Morgan Stanley lowered their price objective on shares of Illumina from $136.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Monday, May 12th. Royal Bank of Canada lowered their price target on Illumina from $128.00 to $112.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. Guggenheim cut their price objective on shares of Illumina from $122.00 to $114.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. TD Cowen lowered shares of Illumina from a “buy” rating to a “hold” rating and dropped their price target for the company from $177.00 to $140.00 in a research report on Friday, February 7th. Finally, Barclays decreased their target price on Illumina from $100.00 to $77.00 and set an “underweight” rating for the company in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, ten have assigned 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, Illumina currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.70.

Insider Activity at Illumina

In related news, CFO Ankur Dhingra purchased 6,100 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was acquired at an average price of $81.21 per share, with a total value of $495,381.00. Following the completion of the acquisition, the chief financial officer now owns 24,906 shares in the company, valued at approximately $2,022,616.26. This represents a 32.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.60% of the stock is owned by corporate insiders.

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.