Bank of Montreal Can Has $16.23 Million Position in Illumina, Inc. (NASDAQ:ILMN)

Bank of Montreal Can lessened its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 37.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 142,524 shares of the life sciences company’s stock after selling 84,966 shares during the quarter. Bank of Montreal Can owned approximately 0.09% of Illumina worth $16,225,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ILMN. Trivant Custom Portfolio Group LLC lifted its stake in shares of Illumina by 166.7% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock valued at $27,000 after purchasing an additional 125 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Illumina by 292.9% in the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after buying an additional 246 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in shares of Illumina during the 2nd quarter worth about $34,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of Illumina by 86.8% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock valued at $39,000 after acquiring an additional 132 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new position in shares of Illumina in the 4th quarter valued at approximately $56,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Illumina Stock Performance

NASDAQ ILMN opened at $130.12 on Friday. The stock has a market cap of $20.73 billion, a P/E ratio of -15.97 and a beta of 1.15. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 1.04. Illumina, Inc. has a twelve month low of $89.00 and a twelve month high of $148.19. The company’s 50-day simple moving average is $126.36 and its 200 day simple moving average is $120.35.

Illumina (NASDAQ:ILMN) last posted its earnings results on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.12 by $0.24. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. Illumina’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the company earned $0.32 EPS. As a group, research analysts forecast that Illumina, Inc. will post 3.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ILMN shares. Scotiabank decreased their target price on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 15th. 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. Royal Bank of Canada reissued an “outperform” rating and set a $242.00 target price on shares of Illumina in a research report on Wednesday, August 14th. Daiwa Capital Markets upgraded shares of Illumina from a “neutral” rating to a “buy” rating and upped their price target for the company from $120.00 to $154.00 in a report on Friday, August 16th. Finally, TD Cowen upgraded Illumina from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $126.00 to $144.00 in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Illumina presently has an average rating of “Moderate Buy” and a consensus price target of $152.95.

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.