Tidal Investments LLC Acquires 32,936 Shares of Illumina, Inc. (NASDAQ:ILMN)

Tidal Investments LLC increased its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 740.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 37,385 shares of the life sciences company’s stock after acquiring an additional 32,936 shares during the period. Tidal Investments LLC’s holdings in Illumina were worth $4,996,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tema Etfs LLC bought a new stake in Illumina during the 4th quarter valued at $1,903,000. Scientech Research LLC bought a new stake in Illumina during the 4th quarter valued at $1,490,000. Siemens Fonds Invest GmbH raised its position in Illumina by 84.8% during the 4th quarter. Siemens Fonds Invest GmbH now owns 6,119 shares of the life sciences company’s stock valued at $818,000 after purchasing an additional 2,807 shares in the last quarter. Quantinno Capital Management LP raised its position in Illumina by 51.0% during the 4th quarter. Quantinno Capital Management LP now owns 19,097 shares of the life sciences company’s stock valued at $2,552,000 after purchasing an additional 6,453 shares in the last quarter. Finally, NorthRock Partners LLC bought a new stake in Illumina during the 4th quarter valued at $374,000. 89.42% of the stock is owned by institutional investors.

Illumina Stock Up 1.5%

Shares of ILMN stock opened at $84.21 on Wednesday. Illumina, Inc. has a 1-year low of $68.70 and a 1-year high of $156.66. The stock’s fifty day moving average price is $78.46 and its 200 day moving average price is $110.24. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42. The company has a market cap of $13.33 billion, a price-to-earnings ratio of -10.96, a price-to-earnings-growth ratio of 1.60 and a beta of 1.35.

Illumina (NASDAQ:ILMN) last announced its earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the business earned $0.98 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, research analysts expect that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ILMN shares. HSBC lowered Illumina from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research report on Friday, February 28th. Barclays decreased their target price on Illumina from $100.00 to $77.00 and set an “underweight” rating for the company in a research report on Thursday, April 10th. Guggenheim cut their price target on Illumina from $122.00 to $114.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Citigroup cut their price target on Illumina from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Finally, Morgan Stanley cut their price target on Illumina from $136.00 to $100.00 and set an “equal weight” rating on the stock in a report on Monday, May 12th. One investment 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $128.15.

Insider Buying and Selling at Illumina

In other news, CFO Ankur Dhingra purchased 6,100 shares of the company’s stock in a transaction on Monday, May 12th. The shares were acquired at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the purchase, the chief financial officer now owns 24,906 shares in the company, valued at $2,022,616.26. This trade represents a 32.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

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.