Bank Pictet & Cie Europe AG Buys New Stake in Illumina, Inc. (NASDAQ:ILMN)

Bank Pictet & Cie Europe AG purchased a new position in shares of Illumina, Inc. (NASDAQ:ILMN) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,937 shares of the life sciences company’s stock, valued at approximately $383,000.

Other institutional investors also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC raised its holdings in shares of Illumina by 6.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,944 shares of the life sciences company’s stock worth $645,000 after buying an additional 307 shares in the last quarter. Northwest Investment Counselors LLC grew its position in Illumina by 2.3% in the third quarter. Northwest Investment Counselors LLC now owns 13,253 shares of the life sciences company’s stock valued at $1,728,000 after acquiring an additional 302 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. bought a new position in shares of Illumina during the third quarter valued at $782,000. Raymond James & Associates boosted its stake in shares of Illumina by 39.6% in the 3rd quarter. Raymond James & Associates now owns 441,182 shares of the life sciences company’s stock valued at $57,535,000 after purchasing an additional 125,073 shares in the last quarter. Finally, Claro Advisors LLC acquired a new stake in shares of Illumina in the 3rd quarter valued at $1,275,000. 89.42% of the stock is owned by institutional investors and hedge funds.

Illumina Stock Down 0.8 %

NASDAQ:ILMN opened at $144.06 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 1.04. Illumina, Inc. has a 12-month low of $89.00 and a 12-month high of $151.40. The stock’s fifty day simple moving average is $133.63 and its 200-day simple moving average is $121.35. The firm has a market capitalization of $22.95 billion, a P/E ratio of -17.68 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last posted its earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.24. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 EPS. Equities research analysts expect that Illumina, Inc. will post 3.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ILMN shares. TD Cowen raised shares of Illumina from a “hold” rating to a “buy” rating and lifted their price target for the company from $126.00 to $144.00 in a report on Wednesday, August 14th. Leerink Partners lifted their target price on shares of Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Argus upgraded Illumina from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Wednesday, August 28th. Hsbc Global Res upgraded Illumina from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. decreased their target price on Illumina from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $154.33.

Illumina 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.