Connor Clark & Lunn Investment Management Ltd. Purchases 114,466 Shares of Illumina, Inc. (NASDAQ:ILMN)

Connor Clark & Lunn Investment Management Ltd. increased its position in Illumina, Inc. (NASDAQ:ILMN) by 1,073.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 125,126 shares of the life sciences company’s stock after buying an additional 114,466 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Illumina were worth $16,318,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Versant Capital Management Inc boosted its stake 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 valued at $34,000 after purchasing an additional 246 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new position in shares of Illumina during the second quarter valued at about $34,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Illumina by 65.1% during 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 during the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Illumina in the second quarter worth about $61,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in shares of Illumina in the 2nd quarter valued at about $63,000. 89.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ILMN. Canaccord Genuity Group increased their price objective on Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Scotiabank reduced their price target on Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 15th. UBS Group boosted their price objective on shares of Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. HSBC raised shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Thursday, October 17th. Finally, Stephens upped their price target on Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. One research 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 company’s stock. Based on data from MarketBeat, Illumina currently has an average rating of “Moderate Buy” and a consensus price target of $164.00.

Illumina Trading Down 2.5 %

ILMN opened at $131.68 on Thursday. 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’s fifty day moving average is $140.18 and its two-hundred day moving average is $124.52. The company has a market capitalization of $20.88 billion, a P/E ratio of -13.22 and a beta of 1.13. Illumina, Inc. has a 52 week low of $93.51 and a 52 week high of $156.66.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, beating 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 firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the company posted $0.33 earnings per share. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. Analysts forecast that Illumina, Inc. will post 4.11 earnings per share for the current 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.