Edgestream Partners L.P. Has $3.17 Million Position in Illumina, Inc. (NASDAQ:ILMN)

Edgestream Partners L.P. increased its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 94.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 23,705 shares of the life sciences company’s stock after purchasing an additional 11,493 shares during the period. Edgestream Partners L.P.’s holdings in Illumina were worth $3,168,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in shares of Illumina in the 4th quarter valued at $32,000. Versant Capital Management Inc raised its holdings in shares of Illumina by 153.7% during the 4th quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock worth $32,000 after buying an additional 146 shares in the last quarter. Assetmark Inc. lifted its position in shares of Illumina by 954.8% during 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 during the last quarter. TD Private Client Wealth LLC boosted its stake in Illumina by 58.5% in the third quarter. TD Private Client Wealth LLC now owns 382 shares of the life sciences company’s stock valued at $50,000 after buying an additional 141 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its position in Illumina by 50.6% in the fourth quarter. V Square Quantitative Management LLC now owns 393 shares of the life sciences company’s stock valued at $52,000 after acquiring an additional 132 shares during the last quarter. 89.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ILMN. Barclays cut shares of Illumina from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $130.00 to $100.00 in a report on Monday, February 10th. Robert W. Baird cut their target price on shares of Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday. 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 research note on Friday, February 28th. Hsbc Global Res downgraded Illumina from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Royal Bank of Canada reduced their price objective on Illumina from $250.00 to $247.00 and set an “outperform” rating on the stock 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $149.25.

Illumina Price Performance

Shares of NASDAQ ILMN opened at $86.62 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $13.72 billion, a PE ratio of -11.28, a P/E/G ratio of 1.60 and a beta of 1.17. The firm has a fifty day simple moving average of $118.38 and a 200 day simple moving average of $131.49. Illumina, Inc. has a twelve month low of $80.18 and a twelve month high of $156.66.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. On average, sell-side analysts forecast 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.