Gryphon Financial Partners LLC Increases Stake in Illumina, Inc. (NASDAQ:ILMN)

Gryphon Financial Partners LLC boosted its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 30.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,556 shares of the life sciences company’s stock after buying an additional 593 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Illumina were worth $267,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Apollon Wealth Management LLC purchased a new position in Illumina in the fourth quarter valued at $282,000. Principal Securities Inc. purchased a new position in shares of Illumina in the 4th quarter valued at about $51,000. QRG Capital Management Inc. grew its position in shares of Illumina by 62.9% during the fourth quarter. QRG Capital Management Inc. now owns 5,481 shares of the life sciences company’s stock worth $763,000 after buying an additional 2,117 shares in the last quarter. Ieq Capital LLC increased its stake in shares of Illumina by 144.9% during the fourth quarter. Ieq Capital LLC now owns 7,366 shares of the life sciences company’s stock worth $1,026,000 after buying an additional 4,358 shares during the period. Finally, First United Bank & Trust acquired a new stake in Illumina in the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Illumina Trading Up 1.3 %

NASDAQ ILMN opened at $124.13 on Wednesday. The firm’s fifty day moving average is $122.13 and its two-hundred day moving average is $120.95. Illumina, Inc. has a one year low of $89.00 and a one year high of $159.28. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11. The firm has a market cap of $19.77 billion, a PE ratio of -15.23 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.24. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS. Analysts expect that Illumina, Inc. will post 3.89 earnings per share for the current year.

Analyst Ratings Changes

ILMN has been the subject of several analyst reports. Daiwa Capital Markets upgraded shares of Illumina from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $120.00 to $154.00 in a report on Friday, August 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $242.00 target price on shares of Illumina in a report on Wednesday, August 14th. Scotiabank decreased their price target on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a report on Thursday, August 15th. Argus raised Illumina from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Wednesday, August 28th. Finally, Daiwa America raised Illumina to a “strong-buy” rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Illumina presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.05.

Illumina Company Profile

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.