Impax Asset Management Group plc Grows Stake in Illumina, Inc. (NASDAQ:ILMN)

Impax Asset Management Group plc boosted its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 923.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 63,973 shares of the life sciences company’s stock after acquiring an additional 57,723 shares during the quarter. Impax Asset Management Group plc’s holdings in Illumina were worth $8,343,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ILMN. Versant Capital Management Inc increased its position in shares of Illumina by 292.9% during 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 during the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in Illumina during the second quarter valued at approximately $34,000. Massmutual Trust Co. FSB ADV increased its holdings 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 valued at $56,000 after buying an additional 168 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Illumina in the second quarter worth approximately $61,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in shares of Illumina during the 2nd quarter worth $63,000. Institutional investors own 89.42% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research note on Thursday, October 17th. TD Cowen raised their price objective on Illumina from $166.00 to $177.00 and gave the stock a “buy” rating in a research note on Tuesday. Citigroup boosted their price objective on Illumina from $155.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday. Robert W. Baird increased their target price on shares of Illumina from $119.00 to $124.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, StockNews.com began coverage on shares of Illumina in a report on Thursday, August 29th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Illumina presently has a consensus rating of “Moderate Buy” and an average target price of $161.50.

Illumina Stock Up 1.0 %

Shares of ILMN opened at $154.96 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86. The stock has a market capitalization of $24.69 billion, a price-to-earnings ratio of -15.56 and a beta of 1.13. Illumina, Inc. has a 1 year low of $89.00 and a 1 year high of $156.66. The business’s 50 day simple moving average is $136.87 and its 200-day simple moving average is $122.92.

Illumina (NASDAQ:ILMN) last released 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 negative net margin of 68.73% and a positive return on equity of 3.08%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the firm earned $0.33 earnings per share. Illumina’s revenue was down 3.5% on a year-over-year basis. As a group, equities analysts expect that Illumina, Inc. will post 3.62 earnings per share for the current fiscal year.

Illumina 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.