Cibc World Markets Corp Boosts Stock Position in Illumina, Inc. (NASDAQ:ILMN)
Cibc World Markets Corp significantly increased its stake in Illumina, Inc. (NASDAQ:ILMN) by 116.1% during the 4th quarter, as disclosed in its latest 13F filing with the Securities & Exchange Commission. The fund now holds 58,226 shares of the life sciences company, reflecting the purchase of an additional 31,278 shares during the period. At the close of the most recent quarter, Cibc World Markets Corp’s holdings in Illumina were valued at $8,107,000. Other hedge funds and institutional investors have also been active in trading Illumina shares. Annis Gardner Whiting Capital Advisors LLC entered a new position in Illumina during the third quarter with a value of $30,000. VisionPoint Advisory Group LLC saw a 344.6% increase in its holdings of Illumina during the third quarter, now owning 249 shares valued at $34,000 with the acquisition of an additional 193 shares. Wetzel Investment Advisors Inc. also acquired a new position in Illumina during the fourth quarter, worth around $37,000. Gradient Investments LLC reported a 375.0% growth in its stake in Illumina in the fourth quarter, now holding 285 shares worth $40,000 after purchasing an additional 225 shares. Additionally, North Star Investment Management Corp. expanded its stake in Illumina by 183.0% in the fourth quarter, now owning 300 shares valued at $42,000 after acquiring an additional 194 shares. Notably, institutional investors currently own 89.42% of the company’s stock.
Analyst Ratings Changes
Various equities research analysts have recently weighed in on Illumina. Stephens reaffirmed an “overweight” rating and set a price target of $170.00 on Illumina shares in a report dated Tuesday, May 7th. StockNews.com upgraded Illumina from a “hold” rating to a “buy” rating on Saturday, May 11th. Scotiabank decreased their price target on Illumina from $185.00 to $176.00 and gave the stock a “sector outperform” rating in a report on Monday, May 6th. Robert W. Baird raised their price target on Illumina from $125.00 to $128.00 and assigned a “neutral” rating to the stock on Friday, May 3rd. Lastly, Royal Bank of Canada reiterated an “outperform” rating and set a price target of $253.00 on Illumina shares on Tuesday, April 9th. According to MarketBeat data, two analysts have rated the stock as a sell, eleven have deemed it a hold, and nine have labeled it a buy, with an average rating of “Hold” and a consensus price target of $161.24.
Illumina Price Performance
Illumina stock experienced a decrease of $1.02 during midday trading on Friday, reaching $113.70. The trading volume for the stock was 2,842,016 shares, compared to the average volume of 1,817,638 shares. Illumina currently has a market capitalization of $18.11 billion, a PE ratio of -13.95, and a beta of 1.20. The company’s current ratio stands at 1.75, with a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. Illumina’s 52-week low is $89.00, while the 52-week high is $212.49. The stock has a 50-day moving average price of $117.28 and a 200-day moving average price of $126.82. Illumina reported earnings per share (EPS) of $0.09 for the quarter ended May 2nd, surpassing the consensus estimate by $0.05. The company generated $1.08 billion in revenue for the quarter, exceeding analyst estimates of $1.05 billion. Illumina’s net margin was negative at 28.71%, while it registered a positive return on equity of 2.31%. The company’s revenue decreased by 1.0% year-over-year, with analysts predicting Illumina, Inc. to post 0.88 EPS for the current year.
Illumina Profile
Illumina, Inc. provides sequencing- and array-based solutions for genetic and genomic analysis globally. The company operates through Core Illumina and GRAIL segments, offering sequencing and array-based instruments and consumables, as well as whole-genome sequencing kits and targeted resequencing kits. Illumina aims to cater to the growing demand for genetic and genomic analysis in various regions.
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