Trade Report: The Illumina Inc. (ILMN) Stake Boosted by Gerber Kawasaki Wealth & Investment Management

The Illumina Inc. (ILMN) Stake Boosted by Gerber Kawasaki Wealth & Investment Management

Gerber Kawasaki Wealth & Investment Management raised its stake in Illumina Inc. (NASDAQ:ILMN) by 18.7% during the second quarter, Holdings Channel reports. The firm owned 7,855 shares of the life sciences company’s stock after buying an additional 1,238 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in Illumina were worth $1,102,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ILMN. Checchi Capital Advisers LLC raised its position in Illumina by 2.4% in the second quarter. Checchi Capital Advisers LLC now owns 958 shares of the life sciences company’s stock worth $134,000 after buying an additional 22 shares in the last quarter. Cleararc Capital Inc. raised its position in Illumina by 0.7% in the first quarter. Cleararc Capital Inc. now owns 3,344 shares of the life sciences company’s stock worth $542,000 after buying an additional 23 shares in the last quarter. Regent Investment Management LLC raised its position in Illumina by 1.8% in the second quarter. Regent Investment Management LLC now owns 4,250 shares of the life sciences company’s stock worth $597,000 after buying an additional 75 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in Illumina by 1.1% in the second quarter. Cullen Frost Bankers Inc. now owns 6,770 shares of the life sciences company’s stock worth $951,000 after buying an additional 75 shares in the last quarter. Finally, Concert Wealth Management Inc. raised its position in Illumina by 6.6% in the second quarter. Concert Wealth Management Inc. now owns 1,684 shares of the life sciences company’s stock worth $236,000 after buying an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 95.24% of the company’s stock.

Illumina Inc. (NASDAQ:ILMN) traded up 2.4235% during trading on Monday, reaching $141.3445. 1,211,851 shares of the company’s stock were exchanged. The firm has a market cap of $20.72 billion, a P/E ratio of 48.4056 and a beta of 0.47. Illumina Inc. has a 52-week low of $127.10 and a 52-week high of $196.47. The stock’s 50 day moving average price is $171.14 and its 200 day moving average price is $156.05.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Tuesday, July 26th. The life sciences company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. The firm earned $600 million during the quarter, compared to analysts’ expectations of $31.91 million. Illumina had a net margin of 18.73% and a return on equity of 23.69%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 earnings per share. Equities research analysts anticipate that Illumina Inc. will post $3.53 EPS for the current fiscal year.

A number of research firms recently commented on ILMN. JPMorgan Chase & Co. raised their price objective on shares of Illumina from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 27th. Cantor Fitzgerald reissued a “hold” rating and set a $165.00 target price on shares of Illumina in a research note on Wednesday, July 27th. Mizuho lifted their target price on shares of Illumina from $138.00 to $148.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Citigroup Inc. lowered shares of Illumina from a “buy” rating to a “neutral” rating and decreased their target price for the company from $190.00 to $140.00 in a research note on Tuesday, October 11th. Finally, Zacks Investment Research raised shares of Illumina from a “sell” rating to a “hold” rating and set a $186.00 target price for the company in a research note on Thursday, July 28th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $156.88.

In other news, Director Daniel Bradbury sold 600 shares of the stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $184.36, for a total value of $110,616.00. Following the transaction, the director now directly owns 17,065 shares of the company’s stock, valued at $3,146,103.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Charles Dadswell sold 8,632 shares of the stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $155.00, for a total transaction of $1,337,960.00. Following the completion of the transaction, the senior vice president now directly owns 40,248 shares in the company, valued at $6,238,440. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Illumina Company Profile

Illumina, Inc (Illumina) offers sequencing and array-based solutions for genetic analysis. The Company’s products and services serve customers in a range of markets, enabling the adoption of genomic solutions in research and clinical settings. The Company’s customers include genomic research centers, academic institutions, government laboratories and hospitals, as well as pharmaceutical, biotechnology, agrigenomics and commercial molecular diagnostic laboratories, and consumer genomics companies.

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