ELCO Management Co. LLC Acquires 1,050 Shares of Illumina, Inc. (NASDAQ:ILMN)

ELCO Management Co. LLC increased its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 10.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,180 shares of the life sciences company’s stock after acquiring an additional 1,050 shares during the period. ELCO Management Co. LLC’s holdings in Illumina were worth $1,167,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Bouvel Investment Partners LLC lifted its holdings in shares of Illumina by 1.3% during the first quarter. Bouvel Investment Partners LLC now owns 6,547 shares of the life sciences company’s stock valued at $899,000 after purchasing an additional 84 shares during the last quarter. UMB Bank n.a. raised its stake in Illumina by 7.0% during the second quarter. UMB Bank n.a. now owns 1,341 shares of the life sciences company’s stock valued at $140,000 after buying an additional 88 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in Illumina by 0.7% during the first quarter. Gulf International Bank UK Ltd now owns 13,562 shares of the life sciences company’s stock valued at $1,862,000 after buying an additional 98 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Illumina by 4.9% in the first quarter. GAMMA Investing LLC now owns 2,258 shares of the life sciences company’s stock worth $310,000 after acquiring an additional 105 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its stake in shares of Illumina by 0.3% in the first quarter. Texas Permanent School Fund Corp now owns 32,818 shares of the life sciences company’s stock worth $4,507,000 after acquiring an additional 114 shares during the last quarter. Institutional investors own 89.42% of the company’s stock.

Illumina Trading Down 1.0 %

NASDAQ:ILMN opened at $128.82 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86. The stock has a 50-day simple moving average of $125.59 and a two-hundred day simple moving average of $120.38. Illumina, Inc. has a 52-week low of $89.00 and a 52-week high of $148.19.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.24. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the company posted $0.32 EPS. The firm’s revenue was down 5.4% on a year-over-year basis. On average, sell-side analysts forecast that Illumina, Inc. will post 3.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ILMN has been the topic of a number of analyst reports. Argus upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Wednesday, August 28th. Robert W. Baird increased their price target on shares of Illumina from $119.00 to $124.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Barclays upgraded shares of Illumina from an “underweight” rating to an “equal weight” rating and set a $125.00 price objective for the company 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, Royal Bank of Canada restated an “outperform” rating and issued a $242.00 price target on shares of Illumina in a research note on Wednesday, August 14th. 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $151.05.

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.