FourThought Financial Partners LLC Invests $424,000 in Illumina, Inc. (NASDAQ:ILMN)

FourThought Financial Partners LLC bought a new position in shares of 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 fund bought 3,173 shares of the life sciences company’s stock, valued at approximately $424,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in shares of Illumina by 0.8% during the fourth quarter. Bank of New York Mellon Corp now owns 3,402,057 shares of the life sciences company’s stock worth $454,617,000 after purchasing an additional 27,618 shares in the last quarter. IFP Advisors Inc increased its stake in shares of 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 purchasing an additional 99 shares in the last quarter. Hardman Johnston Global Advisors LLC increased its stake in shares of Illumina by 157.3% during the fourth quarter. Hardman Johnston Global Advisors LLC now owns 167,959 shares of the life sciences company’s stock worth $22,444,000 after purchasing an additional 102,688 shares in the last quarter. Y Intercept Hong Kong Ltd increased its stake in shares of Illumina by 506.0% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 19,300 shares of the life sciences company’s stock worth $2,579,000 after purchasing an additional 16,115 shares in the last quarter. Finally, Howard Capital Management Inc. increased its stake in shares of Illumina by 3.0% during the fourth quarter. Howard Capital Management Inc. now owns 5,380 shares of the life sciences company’s stock worth $719,000 after purchasing an additional 155 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on ILMN shares. Royal Bank of Canada cut their target price on shares of Illumina from $250.00 to $247.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Piper Sandler upped their price objective on shares of Illumina from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Citigroup cut shares of Illumina from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $190.00 to $165.00 in a research note on Wednesday, December 11th. Canaccord Genuity Group dropped their price objective on shares of Illumina from $145.00 to $135.00 and set a “hold” rating for the company in a research note on Friday, February 7th. Finally, Guggenheim dropped their price objective on shares of Illumina from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Illumina currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.45.

Illumina Stock Performance

Shares of ILMN stock opened at $95.73 on Wednesday. The firm’s 50 day moving average price is $126.02 and its 200-day moving average price is $133.80. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. Illumina, Inc. has a one year low of $91.92 and a one year high of $156.66. The firm has a market cap of $15.16 billion, a P/E ratio of -12.46, a P/E/G ratio of 1.60 and a beta of 1.10.

Illumina (NASDAQ:ILMN) last released its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (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%. As a group, equities research analysts predict that Illumina, Inc. will post 4.51 EPS for the current year.

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.