Belpointe Asset Management LLC Buys Shares of 561 Illumina, Inc. (NASDAQ:ILMN)

Posted by Defense World Staff on May 19th, 2023

Belpointe Asset Management LLC bought a new stake in shares of Illumina, Inc. (NASDAQ:ILMN – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 561 shares of the life sciences company’s stock, valued at approximately $113,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Dakota Wealth Management purchased a new position in Illumina during the 4th quarter valued at about $456,000. Crossmark Global Holdings Inc. grew its stake in Illumina by 3.6% during the 4th quarter. Crossmark Global Holdings Inc. now owns 7,287 shares of the life sciences company’s stock valued at $1,473,000 after acquiring an additional 255 shares in the last quarter. Twin Tree Management LP purchased a new position in Illumina during the 3rd quarter valued at about $1,147,000. Keybank National Association OH grew its stake in Illumina by 2.5% during the 4th quarter. Keybank National Association OH now owns 5,461 shares of the life sciences company’s stock valued at $1,104,000 after acquiring an additional 133 shares in the last quarter. Finally, Amalgamated Bank grew its stake in shares of Illumina by 1.1% in the 3rd quarter. Amalgamated Bank now owns 39,880 shares of the life sciences company’s stock valued at $7,609,000 after buying an additional 452 shares in the last quarter. Hedge funds and other institutional investors own 87.97% of the company’s stock.

Insider Activity at Illumina

In related news, SVP Aimee L. Hoyt sold 3,917 shares of the company’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $199.06, for a total value of $779,718.02. Following the completion of the transaction, the senior vice president now directly owns 2,881 shares in the company, valued at $573,491.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Alexander Aravanis sold 5,398 shares of the company’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $201.74, for a total value of $1,088,992.52. Following the completion of the transaction, the senior vice president now directly owns 2,922 shares in the company, valued at $589,484.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Aimee L. Hoyt sold 3,917 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $199.06, for a total value of $779,718.02. Following the completion of the sale, the senior vice president now owns 2,881 shares in the company, valued at $573,491.86. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on ILMN. UBS Group lowered their price target on Illumina from $255.00 to $240.00 and set a “neutral” rating for the company in a research note on Tuesday, February 14th. Argus cut Illumina from a “buy” rating to a “hold” rating in a research note on Wednesday, January 25th. They noted that the move was a valuation call. Robert W. Baird boosted their price target on Illumina from $224.00 to $229.00 in a research note on Wednesday, April 26th. JPMorgan Chase & Co. lowered their price target on Illumina from $300.00 to $271.00 and set a “neutral” rating for the company in a research note on Wednesday, February 8th. Finally, Barclays reduced their target price on Illumina from $160.00 to $150.00 and set an “underweight” rating for the company in a report on Wednesday, February 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $253.70.

Illumina Stock Up 1.9 %

Shares of ILMN stock opened at $201.29 on Friday. Illumina, Inc. has a 12 month low of $173.45 and a 12 month high of $258.07. The firm has a market cap of $31.82 billion, a PE ratio of -7.06, a price-to-earnings-growth ratio of 6.49 and a beta of 1.18. The stock has a 50 day moving average of $217.02 and a 200-day moving average of $212.31. The company has a quick ratio of 1.16, a current ratio of 1.42 and a debt-to-equity ratio of 0.22.

Illumina (NASDAQ:ILMN – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The life sciences company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.06. Illumina had a positive return on equity of 2.26% and a negative net margin of 100.92%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company earned $1.07 earnings per share. The company’s quarterly revenue was down 11.1% compared to the same quarter last year. On average, equities analysts predict that Illumina, Inc. will post 1.4 EPS for the current year.

Illumina Profile

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Illumina, Inc engages in the development, manufacturing, and marketing of life science tools and integrated systems for large-scale analysis of genetic variation and function. It operates through the Core Illumina segment, which serves customers in the research, clinical and applied markets fields, and enables the adoption of a variety of genomic solutions.