Erste Asset Management GmbH Purchases New Holdings in Illumina, Inc. (NASDAQ:ILMN)

Erste Asset Management GmbH purchased a new position in shares of Illumina, Inc. (NASDAQ:ILMN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 57,582 shares of the life sciences company’s stock, valued at approximately $7,538,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Illumina during the 2nd quarter valued at $34,000. Versant Capital Management Inc increased its holdings in Illumina by 292.9% during the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after buying an additional 246 shares during the last quarter. 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 worth $56,000 after buying an additional 168 shares during the last quarter. Private Trust Co. NA raised its position in Illumina by 81.2% in the third quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock worth $62,000 after acquiring an additional 212 shares during the period. Finally, Focused Wealth Management Inc purchased a new position in Illumina in the third quarter valued at about $63,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Illumina Price Performance

Illumina stock opened at $144.15 on Monday. The business has a 50-day simple moving average of $141.88 and a 200 day simple moving average of $126.03. Illumina, Inc. has a 52 week low of $99.23 and a 52 week high of $156.66. The stock has a market cap of $22.86 billion, a price-to-earnings ratio of -14.47 and a beta of 1.13. 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 (NASDAQ:ILMN) last posted its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share 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 negative net margin of 36.10% and a positive return on equity of 7.29%. Illumina’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 earnings per share. On average, research analysts forecast that Illumina, Inc. will post 4.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

ILMN has been the subject of several research analyst reports. Royal Bank of Canada raised their price target on shares of Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Morgan Stanley reissued an “equal weight” rating and issued a $156.00 target price on shares of Illumina in a research report on Tuesday, November 12th. Piper Sandler lowered their target price on Illumina from $195.00 to $185.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. TD Cowen increased their price target on Illumina from $166.00 to $177.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Illumina presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.00.

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.