ING Groep NV Raises Stake in Illumina, Inc. (NASDAQ:ILMN)

ING Groep NV boosted its holdings in Illumina, Inc. (NASDAQ:ILMN) by 399.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 72,221 shares of the life sciences company’s stock after purchasing an additional 57,774 shares during the quarter. ING Groep NV’s holdings in Illumina were worth $9,418,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Illumina in the 2nd quarter worth approximately $34,000. Versant Capital Management Inc boosted its holdings in Illumina by 292.9% in the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after acquiring an additional 246 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Illumina by 65.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock worth $56,000 after acquiring an additional 168 shares during the last quarter. Focused Wealth Management Inc bought a new position in shares of Illumina during the third quarter valued at $63,000. Finally, Hollencrest Capital Management purchased a new position in shares of Illumina in the 3rd quarter worth about $63,000. Institutional investors own 89.42% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Stephens increased their price objective on shares of Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a research report on Tuesday. Morgan Stanley reissued an “equal weight” rating and set a $156.00 price target on shares of Illumina in a research report on Tuesday. Argus raised Illumina from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research report on Wednesday, August 28th. TD Cowen lifted their target price on Illumina from $166.00 to $177.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, StockNews.com started coverage on Illumina in a research note on Thursday, August 29th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.00.

Illumina Stock Down 2.7 %

Illumina stock opened at $142.24 on Friday. Illumina, Inc. has a 12-month low of $92.69 and a 12-month high of $156.66. The firm has a 50 day moving average of $139.20 and a 200 day moving average of $124.10. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.08 billion. During the same period in the prior year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, analysts expect that Illumina, Inc. will post 4.11 earnings per share for the current fiscal year.

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.