State Farm Mutual Automobile Insurance Co buys $8.4 Million stake in Illumina (ILMN)

Illumina (ILMN) : State Farm Mutual Automobile Insurance Co scooped up 17,440 additional shares in Illumina during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 61,570 shares of Illumina which is valued at $8.4 Million.Illumina makes up approximately 0.01% of State Farm Mutual Automobile Insurance Co’s portfolio.

Other Hedge Funds, Including , New Mexico Educational Retirement Board boosted its stake in ILMN in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 16,200 shares of Illumina which is valued at $2.2 Million. Illumina makes up approx 0.11% of New Mexico Educational Retirement Board’s portfolio.Blackrock Advisors boosted its stake in ILMN in the latest quarter, The investment management firm added 489,029 additional shares and now holds a total of 978,246 shares of Illumina which is valued at $133.9 Million. Illumina makes up approx 0.15% of Blackrock Advisors’s portfolio.De Burlo Group Inc reduced its stake in ILMN by selling 1,050 shares or 4.03% in the most recent quarter. The Hedge Fund company now holds 25,017 shares of ILMN which is valued at $3.5 Million. Illumina makes up approx 1.02% of De Burlo Group Inc’s portfolio.Rhumbline Advisers boosted its stake in ILMN in the latest quarter, The investment management firm added 11,242 additional shares and now holds a total of 209,806 shares of Illumina which is valued at $29.5 Million. Illumina makes up approx 0.09% of Rhumbline Advisers’s portfolio.Ifp Advisors Inc boosted its stake in ILMN in the latest quarter, The investment management firm added 174 additional shares and now holds a total of 1,133 shares of Illumina which is valued at $159,424. Illumina makes up approx 0.01% of Ifp Advisors Inc’s portfolio.

Illumina opened for trading at $138.77 and hit $141.57 on the upside on Friday, eventually ending the session at $140.51, with a gain of 1.80% or 2.48 points. The heightened volatility saw the trading volume jump to 7,66,232 shares. Company has a market cap of $20,683 M.

On the company’s financial health, Illumina reported $0.71 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on May 3, 2016. Analyst had a consensus of $0.74. The company had revenue of $571.80 million for the quarter, compared to analysts expectations of $580.44 million. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS.

Many Wall Street Analysts have commented on Illumina. Shares were Reiterated by Mizuho on May 4, 2016 to “Neutral” and Lowered the Price Target to $ 138 from a previous price target of $150 .Shares were Reiterated by Stifel on May 4, 2016 to “Buy” and Lowered the Price Target to $ 160 from a previous price target of $215 .Shares were Reiterated by Canaccord Genuity on May 4, 2016 to “Hold” and Lowered the Price Target to $ 140 from a previous price target of $160 .

Illumina Inc. is engaged in production development of sequencing-and array-based solutions for genetic analysis. The Company offers integrated systems consumables and analysis tools for genetic analysis. It also manufactures sequencing and array platforms reagent kits and scanning equipment. Its customers include genomic research centers academic institutions government laboratories hospitals and reference laboratories pharmaceutical biotechnology agrigenomics commercial molecular diagnostic and consumer genomics companies. Its sequencing instruments perform a range of nucleic-acid analyses across a range of sample sizes. Its products and services are used for basic analysis and research including de novo sequencing genetic variation analysis epigenetics and targeted screening among others. It also provides products and services for other life sciences applied markets such as agrigenomics. It also offers Clarity Run Manager Clarity LIMS Silver and Clarity LIMS Gold.

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