Crossmark Global Holdings Inc. Raises Position in Illumina, Inc. (NASDAQ:ILMN)

Crossmark Global Holdings Inc. raised its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 54.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,984 shares of the life sciences company’s stock after buying an additional 3,178 shares during the period. Crossmark Global Holdings Inc.’s holdings in Illumina were worth $937,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. WCM Investment Management LLC boosted its holdings in Illumina by 2,232.3% during the 1st quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock valued at $463,760,000 after acquiring an additional 3,232,418 shares during the period. Capital World Investors purchased a new stake in shares of Illumina during the fourth quarter valued at approximately $271,753,000. Norges Bank purchased a new stake in shares of Illumina during the fourth quarter valued at approximately $264,636,000. Coatue Management LLC purchased a new position in shares of Illumina in the fourth quarter worth $119,285,000. Finally, Findlay Park Partners LLP bought a new stake in Illumina during the 1st quarter valued at $100,120,000. 89.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ILMN. Evercore ISI cut their price target on shares of Illumina from $195.00 to $175.00 and set an “outperform” rating on the stock in a report on Tuesday, June 11th. Robert W. Baird boosted their price target on Illumina from $119.00 to $124.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $242.00 price objective on shares of Illumina in a report on Wednesday, August 14th. Jefferies Financial Group began coverage on Illumina in a research note on Monday, June 3rd. They set a “hold” rating and a $115.00 target price on the stock. Finally, Daiwa Capital Markets raised Illumina from a “neutral” rating to a “buy” rating and raised their price target for the stock from $120.00 to $154.00 in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $151.05.

Illumina Price Performance

ILMN opened at $131.40 on Friday. Illumina, Inc. has a 1 year low of $89.00 and a 1 year high of $171.50. The stock has a 50-day moving average price of $119.26 and a 200-day moving average price of $121.78. The firm has a market cap of $20.93 billion, a PE ratio of -16.12 and a beta of 1.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.36.

Illumina (NASDAQ:ILMN) last issued its earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.24. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.09 billion. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. The business’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share. Sell-side analysts predict that Illumina, Inc. will post 1.5 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.