Sei Investments Co. has significantly increased its stake in Illumina, Inc. by 309.3% during the first quarter, as reported in its recent filing with the Securities and Exchange Commission. The institutional investor now owns 71,143 shares of the company’s stock, representing an additional 53,761 shares purchased during the period. At the end of the quarter, Sei Investments Co.’s holdings in Illumina amounted to $9,769,000.
In addition to Sei Investments Co., various other hedge funds and institutional investors have also adjusted their positions in Illumina. Trivant Custom Portfolio Group LLC saw a 166.7% increase in its holdings of Illumina shares in the first quarter. Wetzel Investment Advisors Inc. acquired a new position in Illumina, while Massmutual Trust Co. FSB ADV and Gradient Investments LLC increased their positions during the same period. MeadowBrook Investment Advisors LLC also entered the scene by purchasing a new stake in Illumina.
Despite the recent developments in institutional holdings, Illumina’s stock experienced a 1.1% decrease in trading. With an opening price of $114.49 on Friday, the company’s financial indicators show a current ratio of 1.75 and a quick ratio of 1.36. Illumina has recorded a 1 year low of $89.00 and a high of $195.64.
In terms of financial performance, Illumina reported its quarterly earnings on May 2nd, with an EPS of $0.09, surpassing the consensus estimate by $0.05. The company generated $1.08 billion in revenue for the quarter, slightly exceeding analyst predictions. Despite a negative net margin, Illumina displayed a positive return on equity. Analysts project that Illumina, Inc. will post 0.98 EPS for the current fiscal year.
Analysts have mixed opinions on Illumina’s stock, with some upgrading and others downgrading their ratings. Stephens reaffirmed an “overweight” rating with a price target of $170.00, while Barclays and Robert W. Baird adjusted their price targets. StockNews.com initiated coverage with a “buy” rating, and Citigroup upgraded Illumina from neutral to buy. MarketBeat.com reports an average rating of “Hold” for Illumina, with a target price of $158.57.
Illumina, Inc. provides genetic and genomic analysis solutions through sequencing and array-based technologies. The company operates in multiple segments, offering instruments, consumables, and kits for various genetic analyses. With a focus on innovation and research, Illumina continues to be a prominent player in the life sciences industry.
Investors and analysts closely monitor Illumina’s performance, considering its position in the market and potential for growth. As the company navigates through market fluctuations and industry challenges, its strategic decisions and financial results will shape its future trajectory. Stay tuned for updates on Illumina’s progress and market insights to make informed investment decisions in the life sciences sector.