Plato Investment Management Ltd Increases Stake in Illumina, Inc. (NASDAQ:ILMN)

Plato Investment Management Ltd boosted its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 238.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,795 shares of the life sciences company’s stock after acquiring an additional 9,722 shares during the quarter. Plato Investment Management Ltd’s holdings in Illumina were worth $1,797,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Versant Capital Management Inc increased its position in shares of Illumina by 292.9% in the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after buying an additional 246 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Illumina in the second quarter valued at approximately $34,000. Massmutual Trust Co. FSB ADV increased its position in shares of Illumina by 65.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after buying an additional 168 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Illumina in the second quarter valued at approximately $61,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in shares of Illumina in the second quarter valued at approximately $63,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ILMN. Barclays lifted their price target on Illumina from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. HSBC raised Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Thursday, October 17th. Daiwa Capital Markets raised Illumina from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $120.00 to $154.00 in a research note on Friday, August 16th. TD Cowen lifted their price target on Illumina from $166.00 to $177.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, StockNews.com started coverage on Illumina in a research note on Thursday, August 29th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $164.00.

Illumina Trading Down 2.7 %

Shares of Illumina stock opened at $142.24 on Friday. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. Illumina, Inc. has a 52 week low of $92.69 and a 52 week high of $156.66. The business’s fifty day simple moving average is $139.20 and its 200-day simple moving average is $124.10.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.26. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the business earned $0.33 EPS. Illumina’s revenue was down 3.5% on a year-over-year basis. Research analysts predict that Illumina, Inc. will post 4.11 earnings per share for the current year.

About Illumina

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.