M&T Bank Corp Has $7.09 Million Stock Position in Illumina, Inc. (NASDAQ:ILMN)

M&T Bank Corp increased its holdings in Illumina, Inc. (NASDAQ:ILMN) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,378 shares of the life sciences company’s stock after acquiring an additional 1,769 shares during the period. M&T Bank Corp’s holdings in Illumina were worth $7,091,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Illumina in the second quarter worth approximately $34,000. TD Private Client Wealth LLC grew its holdings in Illumina by 58.5% during the third quarter. TD Private Client Wealth LLC now owns 382 shares of the life sciences company’s stock worth $50,000 after buying an additional 141 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position 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 during the last quarter. Itau Unibanco Holding S.A. bought a new position in Illumina during the 2nd quarter valued at $61,000. Finally, Private Trust Co. NA boosted its holdings in Illumina by 81.2% during the 3rd 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 last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Price Performance

Shares of NASDAQ ILMN opened at $136.02 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. Illumina, Inc. has a fifty-two week low of $100.08 and a fifty-two week high of $156.66. The stock has a market cap of $21.57 billion, a PE ratio of -13.66 and a beta of 1.11. The stock has a fifty day moving average of $143.91 and a 200-day moving average of $129.69.

Illumina (NASDAQ:ILMN) last announced its quarterly 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 positive return on equity of 7.29% and a negative net margin of 36.10%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the business posted $0.33 earnings per share. The company’s revenue was down 3.5% on a year-over-year basis. Equities research analysts anticipate that Illumina, Inc. will post 4.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Hsbc Global Res raised shares of Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price target on the stock in a research report on Thursday, October 17th. StockNews.com assumed coverage on Illumina in a report on Thursday, August 29th. They issued a “buy” rating for the company. Royal Bank of Canada lifted their price target on Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Citigroup downgraded Illumina from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $190.00 to $165.00 in a research note on Wednesday, December 11th. Finally, Argus upgraded Illumina from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research note on Wednesday, August 28th. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Illumina currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.95.

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.