Asahi Life Asset Management CO. LTD. Acquires New Position in Illumina, Inc. (NASDAQ:ILMN)

Asahi Life Asset Management CO. LTD. bought a new position in Illumina, Inc. (NASDAQ:ILMN) during the third quarter, Holdings Channel.com reports. The fund bought 3,075 shares of the life sciences company’s stock, valued at approximately $401,000.

A number of other institutional investors have also modified their holdings of ILMN. Versant Capital Management Inc grew its stake in 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 purchasing an additional 246 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Illumina in the 2nd quarter worth $34,000. Massmutual Trust Co. FSB ADV grew its position 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 buying an additional 168 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Illumina during the 2nd quarter worth $61,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in shares of Illumina during the second quarter valued at $63,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ILMN has been the topic of a number of research reports. Daiwa Capital Markets raised shares of Illumina from a “neutral” rating to a “buy” rating and raised their target price for the company from $120.00 to $154.00 in a research report on Friday, August 16th. Argus raised shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a report on Wednesday, August 28th. UBS Group upped their target price on Illumina from $131.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. TD Cowen upgraded Illumina from a “hold” rating to a “buy” rating and lifted their price target for the company from $126.00 to $144.00 in a report on Wednesday, August 14th. Finally, Hsbc Global Res raised Illumina from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.33.

Illumina Stock Performance

Shares of Illumina stock traded up $2.17 on Monday, reaching $144.12. 131,894 shares of the stock were exchanged, compared to its average volume of 1,993,696. The business has a 50 day moving average price of $134.53 and a two-hundred day moving average price of $121.57. The firm has a market capitalization of $22.96 billion, a price-to-earnings ratio of -7.41 and a beta of 1.15. Illumina, Inc. has a twelve month low of $89.00 and a twelve month high of $151.40. 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 (NASDAQ:ILMN) last released its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.24. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 earnings per share. Analysts anticipate that Illumina, Inc. will post 3.63 earnings per share for the current fiscal year.

Illumina 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.