Harvest Fund Management Co. Ltd Increases Stake in Illumina, Inc. (NASDAQ:ILMN)

Harvest Fund Management Co. Ltd increased its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 53.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,378 shares of the life sciences company’s stock after buying an additional 2,558 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Illumina were worth $962,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in shares of Illumina by 7.2% during the second quarter. Bank of New York Mellon Corp now owns 3,039,538 shares of the life sciences company’s stock valued at $317,267,000 after buying an additional 204,043 shares during the period. Primecap Management Co. CA increased its stake in shares of Illumina by 3.6% during the third quarter. Primecap Management Co. CA now owns 2,516,359 shares of the life sciences company’s stock valued at $328,158,000 after buying an additional 87,599 shares during the period. Millennium Management LLC increased its stake in shares of Illumina by 305.0% during the second quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock valued at $155,067,000 after buying an additional 1,118,747 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Illumina by 148.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,056,172 shares of the life sciences company’s stock valued at $137,735,000 after buying an additional 631,294 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Illumina by 32.1% during the second quarter. Renaissance Technologies LLC now owns 1,000,318 shares of the life sciences company’s stock valued at $104,413,000 after buying an additional 242,800 shares during the period. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Analyst Upgrades and Downgrades

ILMN has been the topic of several research reports. Barclays raised their price target on Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Stephens lifted their target price on Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Daiwa America upgraded Illumina to a “strong-buy” rating in a research note on Friday, August 16th. TD Cowen lifted their target price on Illumina from $166.00 to $177.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, StockNews.com started coverage on Illumina in a research note on Thursday, August 29th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.00.

Illumina Trading Up 2.6 %

Illumina stock opened at $143.82 on Tuesday. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. Illumina, Inc. has a 52 week low of $93.51 and a 52 week high of $156.66. The company has a market capitalization of $22.81 billion, a price-to-earnings ratio of -14.44 and a beta of 1.13. The stock has a 50-day moving average price of $140.90 and a 200 day moving average price of $125.17.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company 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. Illumina’s revenue for the quarter was down 3.5% on a year-over-year basis. Sell-side analysts anticipate that Illumina, Inc. will post 4.11 EPS 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.