Kovitz Investment Group Partners LLC Buys Shares of 3,178 Illumina, Inc. (NASDAQ:ILMN)

Kovitz Investment Group Partners LLC purchased a new stake in Illumina, Inc. (NASDAQ:ILMN) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,178 shares of the life sciences company’s stock, valued at approximately $414,000.

A number of other hedge funds have also made changes to their positions in ILMN. Primecap Management Co. CA boosted its stake in Illumina by 462.5% in the 2nd quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock worth $253,514,000 after buying an additional 1,997,010 shares during the last quarter. Millennium Management LLC lifted its position in Illumina by 305.0% during the 2nd quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock worth $155,067,000 after acquiring an additional 1,118,747 shares in the last quarter. Marshall Wace LLP acquired a new position in Illumina during the 2nd quarter worth approximately $77,628,000. Massachusetts Financial Services Co. MA lifted its position in Illumina by 148.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,056,172 shares of the life sciences company’s stock worth $137,735,000 after acquiring an additional 631,294 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Illumina by 40.5% during the 3rd quarter. Janus Henderson Group PLC now owns 2,168,057 shares of the life sciences company’s stock worth $282,735,000 after purchasing an additional 625,245 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ILMN shares. Scotiabank lowered their price target on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a report on Thursday, August 15th. Hsbc Global Res raised Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 target price on the stock in a research report on Thursday, October 17th. TD Cowen upped their price target on Illumina from $166.00 to $177.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Royal Bank of Canada upped their target price on Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, StockNews.com started coverage on Illumina in a research report on Thursday, August 29th. They issued a “buy” rating on the stock. Nine investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Illumina presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.86.

Illumina Trading Down 0.8 %

NASDAQ ILMN opened at $146.43 on Friday. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. Illumina, Inc. has a twelve month low of $100.08 and a twelve month high of $156.66. The firm has a market capitalization of $23.22 billion, a PE ratio of -14.82 and a beta of 1.11. The stock’s 50 day moving average is $144.02 and its 200 day moving average is $127.89.

Illumina (NASDAQ:ILMN) last released its earnings results 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. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. Research analysts forecast that Illumina, Inc. will post 4.11 earnings per share for the current fiscal 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.