Nikko Asset Management Americas Inc. Acquires Shares of 492,540 Illumina, Inc. (NASDAQ:ILMN)

Nikko Asset Management Americas Inc. acquired a new stake in Illumina, Inc. (NASDAQ:ILMN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 492,540 shares of the life sciences company’s stock, valued at approximately $65,813,000. Nikko Asset Management Americas Inc. owned approximately 0.31% of Illumina at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new stake in Illumina in the 4th quarter valued at approximately $32,000. Versant Capital Management Inc boosted its holdings in Illumina by 153.7% in the 4th quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock valued at $32,000 after purchasing an additional 146 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Illumina in the 4th quarter valued at approximately $45,000. Assetmark Inc. boosted its holdings in Illumina by 954.8% in the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock valued at $44,000 after purchasing an additional 296 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in Illumina by 58.5% in the 3rd quarter. TD Private Client Wealth LLC now owns 382 shares of the life sciences company’s stock valued at $50,000 after purchasing an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ILMN. Royal Bank of Canada reduced their price target on shares of Illumina from $247.00 to $128.00 and set an “outperform” rating for the company in a research report on Wednesday, March 12th. Stephens reiterated an “overweight” rating and set a $156.00 price target on shares of Illumina in a research report on Tuesday, March 11th. Hsbc Global Res downgraded shares of Illumina from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Citigroup reduced their price target on shares of Illumina from $130.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, Guggenheim reduced their price target on shares of Illumina from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Illumina currently has a consensus rating of “Moderate Buy” and an average target price of $140.90.

Illumina Trading Up 1.8 %

Shares of ILMN opened at $85.60 on Monday. The stock has a fifty day moving average of $113.52 and a two-hundred day moving average of $129.86. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. The company has a market capitalization of $13.56 billion, a PE ratio of -11.15, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17. Illumina, Inc. has a fifty-two week low of $80.18 and a fifty-two week high of $156.66.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. As a group, analysts forecast that Illumina, Inc. will post 4.51 EPS for the current year.

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.