CANADA LIFE ASSURANCE Co Increases Stock Holdings in Illumina, Inc. (NASDAQ:ILMN)

CANADA LIFE ASSURANCE Co increased its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 12.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,192 shares of the life sciences company’s stock after buying an additional 24,319 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.14% of Illumina worth $31,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Illumina by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 18,245,041 shares of the life sciences company’s stock valued at $2,505,409,000 after buying an additional 66,528 shares in the last quarter. Edgewood Management LLC lifted its holdings in Illumina by 4.6% in the 4th quarter. Edgewood Management LLC now owns 6,878,495 shares of the life sciences company’s stock valued at $957,762,000 after purchasing an additional 302,222 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in Illumina by 8.7% in the 1st quarter. Baillie Gifford & Co. now owns 5,736,418 shares of the life sciences company’s stock valued at $787,725,000 after purchasing an additional 460,649 shares in the last quarter. WCM Investment Management LLC lifted its holdings in Illumina by 2,232.3% in the 1st quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock valued at $463,760,000 after purchasing an additional 3,232,418 shares in the last quarter. Finally, Capital World Investors purchased a new position in Illumina in the 4th quarter valued at $271,753,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Barclays raised their price objective on Illumina from $85.00 to $100.00 and gave the company an “underweight” rating in a report on Wednesday, April 10th. Royal Bank of Canada reduced their price target on Illumina from $249.00 to $242.00 and set an “outperform” rating on the stock in a report on Monday, July 1st. TD Cowen reduced their price target on Illumina from $140.00 to $122.00 and set a “hold” rating on the stock in a report on Thursday, June 6th. Stephens reiterated an “overweight” rating and set a $170.00 price target on shares of Illumina in a report on Wednesday, July 10th. Finally, Robert W. Baird lifted their price target on Illumina from $125.00 to $128.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $158.57.

Illumina Stock Up 2.4 %

Shares of ILMN traded up $2.78 during midday trading on Thursday, hitting $119.07. The company had a trading volume of 892,985 shares, compared to its average volume of 2,132,363. The company’s 50-day simple moving average is $109.63 and its 200-day simple moving average is $124.44. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 1.75. The firm has a market capitalization of $18.97 billion, a P/E ratio of -14.27 and a beta of 1.15. Illumina, Inc. has a 1 year low of $89.00 and a 1 year high of $195.64.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.08 earnings per share. As a group, sell-side analysts expect that Illumina, Inc. will post 1.38 EPS for the current 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.