ICICI Prudential Asset Management Co Ltd Increases Position in Illumina, Inc. (NASDAQ:ILMN)

ICICI Prudential Asset Management Co Ltd raised its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 19.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,079 shares of the life sciences company’s stock after buying an additional 341 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Illumina were worth $271,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ILMN. Mengis Capital Management Inc. purchased a new position in Illumina during the 3rd quarter valued at about $1,221,000. Platform Technology Partners grew its holdings in shares of Illumina by 4.2% in the third quarter. Platform Technology Partners now owns 3,512 shares of the life sciences company’s stock valued at $458,000 after purchasing an additional 141 shares in the last quarter. Entropy Technologies LP purchased a new stake in Illumina during the 3rd quarter worth approximately $1,378,000. Venturi Wealth Management LLC lifted its holdings in Illumina by 18.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,650 shares of the life sciences company’s stock worth $346,000 after buying an additional 422 shares in the last quarter. Finally, Weil Company Inc. boosted its position in Illumina by 10.2% in the 3rd quarter. Weil Company Inc. now owns 21,144 shares of the life sciences company’s stock valued at $2,757,000 after buying an additional 1,952 shares during the period. 89.42% of the stock is owned by institutional investors and hedge funds.

Illumina Stock Down 1.0 %

Shares of Illumina stock opened at $146.17 on Thursday. The company has a market cap of $23.18 billion, a P/E ratio of -14.68 and a beta of 1.13. The firm has a fifty day moving average of $138.84 and a two-hundred day moving average of $123.95. 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 one year low of $92.69 and a one year high of $156.66.

Illumina (NASDAQ:ILMN) last released its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.26. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted $0.33 EPS. On average, analysts forecast that Illumina, Inc. will post 4.11 earnings per share for the current year.

Wall Street Analyst Weigh In

ILMN has been the subject of a number of recent research reports. Royal Bank of Canada lifted their target price on Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Barclays increased their price objective on shares of Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Citigroup raised their price objective on shares of Illumina from $155.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Robert W. Baird boosted their target price on shares of Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, Scotiabank dropped their target price on Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently 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.