AIA Group Ltd Boosts Stake in Illumina, Inc. (NASDAQ:ILMN)

AIA Group Ltd lifted its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 13.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,214 shares of the life sciences company’s stock after acquiring an additional 7,547 shares during the quarter. AIA Group Ltd’s holdings in Illumina were worth $8,505,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc lifted its stake in Illumina by 292.9% in the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after buying an additional 246 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in Illumina in the 2nd quarter valued at about $34,000. Massmutual Trust Co. FSB ADV lifted its stake in Illumina by 65.1% in the 3rd 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 in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Illumina in the 2nd quarter valued at about $61,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in Illumina in the 2nd quarter valued at about $63,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Stock Up 2.2 %

Shares of NASDAQ ILMN opened at $155.15 on Friday. The company has a 50 day simple moving average of $137.27 and a 200-day simple moving average of $123.12. The company has a market capitalization of $24.72 billion, a P/E ratio of -15.58 and a beta of 1.13. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86. Illumina, Inc. has a 1 year low of $89.00 and a 1 year high of $156.66.

Illumina (NASDAQ:ILMN) last posted its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share 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 6.36%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm earned $0.33 EPS. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, equities research analysts predict that Illumina, Inc. will post 3.62 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on ILMN shares. Daiwa Capital Markets raised shares of Illumina from a “neutral” rating to a “buy” rating and raised their price target for the company from $120.00 to $154.00 in a research note on Friday, August 16th. Royal Bank of Canada raised their price target on shares of Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a research note on Tuesday. Canaccord Genuity Group raised their target price on shares of Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a research note on Tuesday. Robert W. Baird raised 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. Finally, JPMorgan Chase & Co. raised their target price on shares of Illumina from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Illumina presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.18.

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.