Is Illumina (ILMN) Stock a Buy For 2021?

Baron Health Care Fund recently published its fourth-quarter commentary – a copy of which can be downloaded here. During the fourth quarter of 2020, the Baron Health Care Fund returned 17.1% (institutional shares). In comparison, the benchmark S&P 500 Index was up 12.15%, while the Russell 3000 Health Care Index was up 10.08%. You should check out Baron’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.

In the Q4 2020 Investor Letter, Baron Health Care Fund highlighted a few stocks and Illumina Inc. (NASDAQ:ILMN) is one of them. Illumina Inc. (NASDAQ:ILMN) is a biotechnology company. In the last three months, Illumina Inc. (NASDAQ:ILMN) stock gained 62.6% and on February 18th it had a closing price of $485.79. Here is what Baron Health Care Fund said:

“We have an investment in Illumina, Inc., the market leader in DNA sequencing technology. With Illumina sequencers, scientists can sequence a human genome for less than $1,000 in less than one day. As a result, the applications for DNA sequencing are rapidly expanding. DNA sequencing is being used in cancer diagnosis and treatment, diagnosis of rare genetic diseases, non-invasive pre-natal testing, population genomics, and consumer genomics. Illumina announced the acquisition of Grail, a company developing a blood test for early cancer detection using DNA sequencing.”


Earlier this week, we published an article revealing that Bonsai Partners is bullish on Illumina Inc. (NASDAQ:ILMN) stock. The investment firm said that the company showed good catch-up momentum as laboratories started to reopen.

Our calculations showed that Illumina Inc. (NASDAQ:ILMN) isn’t ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

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Disclosure: None. This article is originally published at Insider Monkey.