Rhumbline Advisers Increases Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Rhumbline Advisers lifted its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 63.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 462,616 shares of the life sciences company’s stock after buying an additional 180,196 shares during the quarter. Rhumbline Advisers owned about 0.29% of Illumina worth $48,288,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Illumina by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 18,245,041 shares of the life sciences company’s stock valued at $2,505,409,000 after buying an additional 66,528 shares in the last quarter. Edgewood Management LLC lifted its stake in shares of Illumina by 4.6% during the 4th quarter. Edgewood Management LLC now owns 6,878,495 shares of the life sciences company’s stock valued at $957,762,000 after buying an additional 302,222 shares in the last quarter. Baillie Gifford & Co. lifted its stake in shares of Illumina by 8.7% during the 1st quarter. Baillie Gifford & Co. now owns 5,736,418 shares of the life sciences company’s stock valued at $787,725,000 after buying an additional 460,649 shares in the last quarter. WCM Investment Management LLC lifted its stake in Illumina by 2,232.3% in the 1st quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock worth $463,760,000 after purchasing an additional 3,232,418 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Illumina by 7.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,039,538 shares of the life sciences company’s stock worth $317,267,000 after purchasing an additional 204,043 shares in the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Argus upgraded shares of 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. Barclays upgraded shares of Illumina from an “underweight” rating to an “equal weight” rating and set a $125.00 target price on the stock in a research note on Wednesday, August 14th. Daiwa America upgraded shares of Illumina to a “strong-buy” rating in a research note on Friday, August 16th. Evercore ISI lowered their target price on shares of Illumina from $195.00 to $175.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 11th. Finally, Scotiabank decreased their price target on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $151.05.

Illumina Stock Up 0.9 %

NASDAQ:ILMN opened at $129.76 on Friday. The firm has a market cap of $20.67 billion, a P/E ratio of -15.92 and a beta of 1.15. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11. Illumina, Inc. has a fifty-two week low of $89.00 and a fifty-two week high of $162.32. The firm has a 50-day simple moving average of $121.02 and a two-hundred day simple moving average of $121.47.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.24. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. Illumina’s revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business earned $0.32 EPS. Analysts predict that Illumina, Inc. will post 3.89 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.