Retirement Systems of Alabama Acquires 161,565 Shares of Illumina, Inc. (NASDAQ:ILMN)

Retirement Systems of Alabama boosted its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 461.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 196,614 shares of the life sciences company’s stock after buying an additional 161,565 shares during the period. Retirement Systems of Alabama’s holdings in Illumina were worth $20,523,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ILMN. WCM Investment Management LLC grew its holdings in shares of Illumina by 2,232.3% during the first quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock worth $463,760,000 after buying an additional 3,232,418 shares in the last quarter. Capital World Investors bought a new position in shares of Illumina during the 4th quarter worth approximately $271,753,000. Norges Bank acquired a new stake in shares of Illumina in the fourth quarter valued at approximately $264,636,000. Coatue Management LLC acquired a new stake in shares of Illumina in the fourth quarter valued at approximately $119,285,000. Finally, Findlay Park Partners LLP bought a new stake in shares of Illumina in the first quarter worth $100,120,000. Institutional investors own 89.42% of the company’s stock.

Illumina Stock Up 1.6 %

Illumina stock opened at $131.39 on Friday. Illumina, Inc. has a twelve month low of $89.00 and a twelve month high of $171.50. The stock has a market cap of $20.93 billion, a P/E ratio of -16.12 and a beta of 1.15. The company’s 50-day moving average price is $116.94 and its two-hundred day moving average price is $121.97. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.26.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.24. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the firm posted $0.32 EPS. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, analysts expect that Illumina, Inc. will post 1.5 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ILMN shares. JPMorgan Chase & Co. lowered their price target on shares of Illumina from $130.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Evercore ISI decreased their price objective on Illumina from $195.00 to $175.00 and set an “outperform” rating for the company in a report on Tuesday, June 11th. Citigroup upped their target price on Illumina from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. StockNews.com initiated coverage on Illumina in a research note on Wednesday. They issued a “buy” rating for the company. Finally, Piper Sandler dropped their price objective on Illumina from $200.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Illumina has an average rating of “Moderate Buy” and an average target price of $151.10.

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.