Assenagon Asset Management S.A. Has $5.27 Million Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Assenagon Asset Management S.A. boosted its holdings in Illumina, Inc. (NASDAQ:ILMN) by 1,169.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,410 shares of the life sciences company’s stock after acquiring an additional 37,226 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Illumina were worth $5,270,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in Illumina by 292.9% during the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after purchasing an additional 246 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Illumina during the 2nd quarter valued at $34,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Illumina by 65.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock worth $56,000 after purchasing an additional 168 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Illumina in the 2nd quarter worth about $61,000. Finally, Mizuho Securities Co. Ltd. bought a new position in Illumina during the second quarter valued at about $63,000. 89.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Daiwa America upgraded shares of Illumina to a “strong-buy” rating in a research note on Friday, August 16th. 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. Daiwa Capital Markets upgraded Illumina from a “neutral” rating to a “buy” rating and boosted their target price for the company from $120.00 to $154.00 in a research note on Friday, August 16th. TD Cowen upgraded Illumina from a “hold” rating to a “buy” rating and increased their price target for the stock from $126.00 to $144.00 in a research note on Wednesday, August 14th. Finally, HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Illumina currently has an average rating of “Moderate Buy” and an average target price of $154.33.

Illumina Trading Up 1.4 %

Shares of ILMN opened at $146.00 on Wednesday. Illumina, Inc. has a 1-year low of $89.00 and a 1-year high of $151.40. The company has a market capitalization of $23.26 billion, a P/E ratio of -17.91 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. The firm’s 50 day simple moving average is $134.96 and its 200 day simple moving average is $121.80.

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

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.