Fred Alger Management LLC Takes Position in Illumina, Inc. (NASDAQ:ILMN)

Fred Alger Management LLC acquired a new position in Illumina, Inc. (NASDAQ:ILMN) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,597 shares of the life sciences company’s stock, valued at approximately $1,121,000.

Other institutional investors have also added to or reduced their stakes in the company. Captrust Financial Advisors boosted its stake in shares of Illumina by 6.5% in the 3rd quarter. Captrust Financial Advisors now owns 8,576 shares of the life sciences company’s stock valued at $1,118,000 after purchasing an additional 524 shares during the last quarter. Vinva Investment Management Ltd bought a new stake in Illumina during the third quarter valued at $859,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Illumina by 4.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,260,137 shares of the life sciences company’s stock worth $164,334,000 after acquiring an additional 54,319 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Illumina by 1.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 76,579 shares of the life sciences company’s stock worth $9,987,000 after acquiring an additional 1,433 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Illumina by 151.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 36,846 shares of the life sciences company’s stock valued at $4,805,000 after purchasing an additional 22,220 shares during the period. 89.42% of the stock is currently owned by institutional investors.

Illumina Stock Down 0.1 %

Shares of NASDAQ:ILMN opened at $144.15 on Monday. The company has a market capitalization of $22.86 billion, a PE ratio of -14.47 and a beta of 1.13. Illumina, Inc. has a 1 year low of $99.23 and a 1 year high of $156.66. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. The business has a fifty day moving average price of $141.88 and a two-hundred day moving average price of $126.03.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.88 by $0.26. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 earnings per share. Analysts forecast that Illumina, Inc. will post 4.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ILMN. StockNews.com initiated coverage on Illumina in a research note on Thursday, August 29th. They issued a “buy” rating on the stock. Scotiabank cut their target price on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 15th. Daiwa Capital Markets raised shares of Illumina from a “neutral” rating to a “buy” rating and lifted their price target for the company from $120.00 to $154.00 in a research note on Friday, August 16th. Stephens increased their price objective on shares of Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. boosted their target price on Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $164.00.

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.