Primecap Management Co. CA Boosts Stake in Illumina, Inc. (NASDAQ:ILMN)

Primecap Management Co. CA lifted its holdings in Illumina, Inc. (NASDAQ:ILMN) by 3.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,516,359 shares of the life sciences company’s stock after purchasing an additional 87,599 shares during the period. Primecap Management Co. CA’s holdings in Illumina were worth $328,158,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Industrial Alliance Investment Management Inc. purchased a new position in shares of Illumina in the second quarter worth about $34,000. Versant Capital Management Inc increased its position in Illumina by 292.9% during the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after purchasing an additional 246 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in Illumina by 65.1% during the third 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 last quarter. Focused Wealth Management Inc acquired a new stake in Illumina during the third quarter worth about $63,000. Finally, Hollencrest Capital Management acquired a new stake in Illumina during the third quarter worth about $63,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Trading Down 2.5 %

Shares of NASDAQ:ILMN opened at $131.68 on Thursday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. Illumina, Inc. has a twelve month low of $93.51 and a twelve month high of $156.66. The firm has a 50 day simple moving average of $140.18 and a 200-day simple moving average of $124.52.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ILMN. Royal Bank of Canada raised their price objective on shares of Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Daiwa America upgraded shares of Illumina to a “strong-buy” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on shares of Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Leerink Partners lifted their price target on shares of Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Citigroup lifted their price target on shares of Illumina from $155.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One investment 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $164.00.

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.