OVERSEA CHINESE BANKING Corp Ltd Grows Holdings in Illumina, Inc. (NASDAQ:ILMN)

OVERSEA CHINESE BANKING Corp Ltd increased its stake in Illumina, Inc. (NASDAQ:ILMN) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 283,175 shares of the life sciences company’s stock after buying an additional 16,055 shares during the period. Illumina comprises about 1.1% of OVERSEA CHINESE BANKING Corp Ltd’s investment portfolio, making the stock its 21st largest position. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.18% of Illumina worth $37,841,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ILMN. Bleakley Financial Group LLC acquired a new position in shares of Illumina during the fourth quarter valued at $751,000. Zacks Investment Management bought a new stake in Illumina in the 3rd quarter valued at about $2,924,000. Van ECK Associates Corp boosted its stake in Illumina by 17.5% during the 4th quarter. Van ECK Associates Corp now owns 152,265 shares of the life sciences company’s stock valued at $20,347,000 after purchasing an additional 22,718 shares during the period. Strategic Financial Concepts LLC bought a new position in Illumina in the 4th quarter worth about $1,464,000. Finally, Allworth Financial LP increased its stake in shares of Illumina by 720.7% in the fourth quarter. Allworth Financial LP now owns 7,132 shares of the life sciences company’s stock valued at $1,001,000 after purchasing an additional 6,263 shares during the period. 89.42% of the stock is owned by institutional investors and hedge funds.

Illumina Price Performance

NASDAQ ILMN opened at $85.16 on Wednesday. Illumina, Inc. has a 1 year low of $80.18 and a 1 year high of $156.66. The stock’s 50-day moving average price is $111.38 and its two-hundred day moving average price is $129.20. The company has a market cap of $13.49 billion, a PE ratio of -11.09, a PEG ratio of 1.60 and a beta of 1.17. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. On average, analysts predict that Illumina, Inc. will post 4.51 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on ILMN. Barclays reiterated an “underweight” rating on shares of Illumina in a research report on Tuesday, March 11th. Royal Bank of Canada decreased their price target on Illumina from $247.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday, March 12th. TD Cowen lowered Illumina from a “buy” rating to a “hold” rating and lowered their price target for the company from $177.00 to $140.00 in a report on Friday, February 7th. Guggenheim reduced their price objective on shares of Illumina from $170.00 to $150.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, Robert W. Baird lowered their target price on shares of Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.90.

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.