Erste Asset Management GmbH Acquires New Position in Illumina, Inc. (NASDAQ:ILMN)

Erste Asset Management GmbH bought a new position in Illumina, Inc. (NASDAQ:ILMN) in the third quarter, Holdings Channel reports. The institutional investor bought 57,582 shares of the life sciences company’s stock, valued at approximately $7,538,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc lifted its holdings in shares of Illumina by 292.9% in the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after acquiring an additional 246 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in Illumina in the 2nd quarter worth $34,000. Massmutual Trust Co. FSB ADV raised its position in Illumina by 65.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock worth $56,000 after purchasing an additional 168 shares during the period. Itau Unibanco Holding S.A. bought a new stake in Illumina in the second quarter worth $61,000. Finally, Private Trust Co. NA boosted its position in Illumina by 81.2% during the third quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock valued at $62,000 after buying an additional 212 shares during the period. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ILMN. HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a report on Thursday, October 17th. Daiwa America raised Illumina to a “strong-buy” rating in a research note on Friday, August 16th. Scotiabank dropped their price objective on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their target price on shares of Illumina from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, StockNews.com initiated coverage on shares of Illumina in a report on Thursday, August 29th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.00.

Illumina Price Performance

Shares of ILMN stock opened at $144.15 on Monday. The business’s fifty day moving average is $141.88 and its 200 day moving average is $126.03. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. The stock has a market cap of $22.86 billion, a price-to-earnings ratio of -14.47 and a beta of 1.13. Illumina, Inc. has a twelve month low of $99.23 and a twelve month high of $156.66.

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

Illumina Company Profile

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.