Fintel reports that on December 13, 2023, Wolfe Research initiated coverage of Illumina (NASDAQ:ILMN) with a Outperform recommendation.
Analyst Price Forecast Suggests 5.89% Upside
As of November 27, 2023, the average one-year price target for Illumina is 134.13. The forecasts range from a low of 50.50 to a high of $273.00. The average price target represents an increase of 5.89% from its latest reported closing price of 126.67.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Illumina is 5,111MM, an increase of 14.47%. The projected annual non-GAAP EPS is 3.12.
What is the Fund Sentiment?
There are 1671 funds or institutions reporting positions in Illumina. This is a decrease of 28 owner(s) or 1.65% in the last quarter. Average portfolio weight of all funds dedicated to ILMN is 0.27%, a decrease of 18.93%. Total shares owned by institutions increased in the last three months by 0.36% to 167,701K shares. 
The put/call ratio of ILMN is 0.94, indicating a bullish outlook.
What are Other Shareholders Doing?
Baillie Gifford holds 10,470K shares representing 6.59% ownership of the company. In it's prior filing, the firm reported owning 13,973K shares, representing a decrease of 33.46%. The firm decreased its portfolio allocation in ILMN by 41.11% over the last quarter.
Edgewood Management holds 6,576K shares representing 4.14% ownership of the company. In it's prior filing, the firm reported owning 5,573K shares, representing an increase of 15.26%. The firm decreased its portfolio allocation in ILMN by 6.89% over the last quarter.
Polen Capital Management holds 5,127K shares representing 3.23% ownership of the company. In it's prior filing, the firm reported owning 5,097K shares, representing an increase of 0.57%. The firm decreased its portfolio allocation in ILMN by 21.89% over the last quarter.
Wellington Management Group Llp holds 4,965K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 5,276K shares, representing a decrease of 6.25%. The firm decreased its portfolio allocation in ILMN by 27.10% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,933K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 4,930K shares, representing an increase of 0.07%. The firm decreased its portfolio allocation in ILMN by 23.95% over the last quarter.
Illumina Background Information
(This description is provided by the company.)
Illumina is improving human health by unlocking the power of the genome. Its focus on innovation has established it as the global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets. The Company products are used for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments.
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This story originally appeared on Fintel.
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