Federated Hermes Inc. Raises Position in Illumina, Inc. (NASDAQ:ILMN)

Federated Hermes Inc. grew its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 519,190 shares of the life sciences company’s stock after buying an additional 25,605 shares during the quarter. Federated Hermes Inc. owned 0.33% of Illumina worth $69,379,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. WCM Investment Management LLC increased its holdings in shares of Illumina by 26.6% in the 4th quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company’s stock worth $551,625,000 after purchasing an additional 867,673 shares in the last quarter. Bank of New York Mellon Corp raised its position in Illumina by 0.8% in the 4th 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 buying an additional 27,618 shares during the last quarter. Geode Capital Management LLC lifted its stake in Illumina by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,727,827 shares of the life sciences company’s stock valued at $354,933,000 after acquiring an additional 48,018 shares during the period. Norges Bank purchased a new stake in shares of Illumina during the 4th quarter valued at about $228,714,000. Finally, Pictet Asset Management Holding SA grew its stake in shares of Illumina by 245.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,182,454 shares of the life sciences company’s stock worth $158,011,000 after acquiring an additional 840,423 shares during the period. Institutional investors own 89.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ILMN shares. Barclays restated an “underweight” rating on shares of Illumina in a report on Tuesday, March 11th. Canaccord Genuity Group cut their price objective on Illumina from $135.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday, March 11th. Royal Bank of Canada lowered their target price on Illumina from $247.00 to $128.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Piper Sandler upped their price target on shares of Illumina from $185.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, HSBC lowered shares of 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $140.90.

Illumina Trading Down 3.0 %

Shares of ILMN stock opened at $74.16 on Monday. The stock has a market capitalization of $11.75 billion, a price-to-earnings ratio of -9.66, a price-to-earnings-growth ratio of 1.60 and a beta of 1.38. The stock’s 50-day moving average price is $96.82 and its 200-day moving average price is $125.02. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. Illumina, Inc. has a 12-month low of $70.64 and a 12-month high of $156.66.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. Equities research analysts predict that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

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.