Geode Capital Management LLC Increases Position in Illumina, Inc. (NASDAQ:ILMN)

Geode Capital Management LLC lifted its holdings in Illumina, Inc. (NASDAQ:ILMN) by 1.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,727,827 shares of the life sciences company’s stock after purchasing an additional 48,018 shares during the period. Geode Capital Management LLC’s holdings in Illumina were worth $354,933,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ILMN. Industrial Alliance Investment Management Inc. purchased a new stake in Illumina in the second quarter worth $34,000. Massmutual Trust Co. FSB ADV lifted its holdings in Illumina by 65.1% during the 3rd 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. Private Trust Co. NA boosted its position in Illumina by 81.2% in the 3rd 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. Focused Wealth Management Inc bought a new position in Illumina in the 3rd quarter worth about $63,000. Finally, Hollencrest Capital Management purchased a new position in shares of Illumina during the third quarter worth approximately $63,000. 89.42% of the stock is owned by institutional investors.

Illumina Trading Down 1.7 %

Shares of Illumina stock opened at $143.87 on Friday. Illumina, Inc. has a 12-month low of $100.08 and a 12-month high of $156.66. The firm’s 50 day simple moving average is $144.27 and its two-hundred day simple moving average is $128.28. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $22.82 billion, a price-to-earnings ratio of -14.44 and a beta of 1.11.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ILMN. Leerink Partners increased their price objective on Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Citigroup lowered Illumina from a “buy” rating to a “neutral” rating and cut their price target for the company from $190.00 to $165.00 in a research note on Wednesday. Royal Bank of Canada upped their price objective on shares of Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. TD Cowen raised their target price on shares of Illumina from $166.00 to $177.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, StockNews.com began coverage on shares of Illumina in a research report on Thursday, August 29th. They issued a “buy” rating for the company. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Illumina currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.40.

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.