PGGM Investments Purchases 183,784 Shares of Illumina, Inc. (NASDAQ:ILMN)

PGGM Investments raised its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 80.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 411,362 shares of the life sciences company’s stock after purchasing an additional 183,784 shares during the quarter. PGGM Investments owned 0.26% of Illumina worth $42,938,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Trivant Custom Portfolio Group LLC grew its stake in shares of Illumina by 166.7% in the first quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock worth $27,000 after acquiring an additional 125 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in Illumina during the 4th quarter valued at $37,000. Massmutual Trust Co. FSB ADV lifted 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 buying an additional 132 shares during the period. MeadowBrook Investment Advisors LLC purchased a new position in shares of Illumina in the 4th quarter worth $42,000. Finally, First United Bank & Trust purchased a new stake in Illumina during the fourth quarter valued at $46,000. Institutional investors own 89.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ILMN shares. Royal Bank of Canada reissued an “outperform” rating and issued a $242.00 target price on shares of Illumina in a research report on Wednesday. Evercore ISI cut their target price on shares of Illumina from $195.00 to $175.00 and set an “outperform” rating for the company in a research report on Tuesday, June 11th. TD Cowen upgraded shares of 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 report on Wednesday. Scotiabank cut their price objective on shares of Illumina from $185.00 to $176.00 and set a “sector outperform” rating for the company in a research report on Monday, May 6th. Finally, Stephens restated an “overweight” rating and issued a $170.00 price objective on shares of Illumina in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $151.55.

Illumina Price Performance

ILMN traded up $2.56 during trading on Wednesday, reaching $122.28. 2,154,800 shares of the company traded hands, compared to its average volume of 2,128,021. The company has a market cap of $19.48 billion, a P/E ratio of -15.00 and a beta of 1.15. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 1.75. Illumina, Inc. has a 12-month low of $89.00 and a 12-month high of $178.44. The firm has a fifty day simple moving average of $114.07 and a 200 day simple moving average of $122.62.

Illumina (NASDAQ:ILMN) last posted its earnings results 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. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. Illumina’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share. On average, equities analysts forecast that Illumina, Inc. will post 1.5 EPS for the current year.

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.