APG Asset Management US Inc. Makes New Investment in Illumina, Inc. (NASDAQ:ILMN)

APG Asset Management US Inc. bought a new position in shares of Illumina, Inc. (NASDAQ:ILMN) in the 4th quarter, HoldingsChannel reports. The fund bought 3,284 shares of the life sciences company’s stock, valued at approximately $439,000.

Other hedge funds also recently bought and sold shares of the company. Bank of Stockton boosted its stake in shares of 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 during the period. Stephens Inc. AR boosted 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 purchasing an additional 90 shares during the period. Spire Wealth Management raised its holdings in Illumina by 26.0% in the fourth quarter. Spire Wealth Management now owns 470 shares of the life sciences company’s stock valued at $63,000 after acquiring an additional 97 shares in the last quarter. IFP Advisors Inc raised its holdings in Illumina by 19.1% in the fourth quarter. IFP Advisors Inc now owns 617 shares of the life sciences company’s stock valued at $82,000 after acquiring an additional 99 shares in the last quarter. Finally, Brooklyn Investment Group raised its holdings 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 in the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Illumina Stock Up 8.5 %

Shares of NASDAQ:ILMN opened at $76.30 on Thursday. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. Illumina, Inc. has a 52-week low of $68.70 and a 52-week high of $156.66. The company has a 50 day moving average of $90.77 and a two-hundred day moving average of $123.08. The company has a market capitalization of $12.09 billion, a price-to-earnings ratio of -9.93, a price-to-earnings-growth ratio of 1.60 and a beta of 1.38.

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

Wall Street Analyst Weigh In

ILMN has been the topic of several analyst reports. Morgan Stanley reduced their target price on shares of Illumina from $150.00 to $136.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 11th. Stephens reaffirmed an “overweight” rating and issued a $156.00 target price on shares of Illumina in a report on Tuesday, March 11th. Piper Sandler raised their target price on shares of Illumina from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, February 10th. HSBC cut shares of Illumina from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a report on Friday, February 28th. Finally, Canaccord Genuity Group cut their price objective on shares of Illumina from $135.00 to $115.00 and set a “hold” rating on the stock in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illumina currently has an average rating of “Moderate Buy” and a consensus price target of $139.85.

About Illumina

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.