Intech Investment Management LLC Invests $313,000 in Illumina, Inc. (NASDAQ:ILMN)

Intech Investment Management LLC bought a new stake in shares of Illumina, Inc. (NASDAQ:ILMN) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 2,999 shares of the life sciences company’s stock, valued at approximately $313,000.

A number of other large investors also recently added to or reduced their stakes in the business. Gryphon Financial Partners LLC increased its holdings in shares of Illumina by 22.1% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,807 shares of the life sciences company’s stock worth $252,000 after buying an additional 327 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in Illumina by 134.1% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 17,316 shares of the life sciences company’s stock worth $2,411,000 after acquiring an additional 9,918 shares during the last quarter. Stifel Financial Corp grew its position in Illumina by 6.6% during the 4th quarter. Stifel Financial Corp now owns 52,447 shares of the life sciences company’s stock worth $7,303,000 after acquiring an additional 3,269 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in Illumina by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 72,176 shares of the life sciences company’s stock worth $10,050,000 after purchasing an additional 690 shares during the period. Finally, Dorsey & Whitney Trust CO LLC bought a new stake in Illumina in the fourth quarter valued at approximately $333,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on ILMN. JPMorgan Chase & Co. decreased their target price on shares of Illumina from $130.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Argus raised shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Wednesday, August 28th. Jefferies Financial Group started coverage on Illumina in a research note on Monday, June 3rd. They issued a “hold” rating and a $115.00 target price on the stock. Robert W. Baird upped their price target on Illumina from $119.00 to $124.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, Evercore ISI cut their price objective on Illumina from $195.00 to $175.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $151.05.

Illumina Price Performance

ILMN opened at $130.12 on Friday. Illumina, Inc. has a 1 year low of $89.00 and a 1 year high of $148.19. The stock has a 50-day moving average price of $126.04 and a 200-day moving average price of $120.50. The firm has a market cap of $20.73 billion, a PE ratio of -15.97 and a beta of 1.15. 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 (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 68.73% and a positive return on equity of 3.08%. 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 3.63 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.