Jennison Associates LLC Increases Stake in Illumina, Inc. (NASDAQ:ILMN)

Jennison Associates LLC boosted its stake in Illumina, Inc. (NASDAQ:ILMN) by 0.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 288,943 shares of the life sciences company’s stock after buying an additional 881 shares during the period. Jennison Associates LLC’s holdings in Illumina were worth $38,611,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Zacks Investment Management purchased a new position in shares of Illumina in the 3rd quarter valued at approximately $2,924,000. Freemont Management S.A. bought a new position in Illumina in the third quarter worth $1,565,000. Assenagon Asset Management S.A. raised its holdings in Illumina by 5.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 42,748 shares of the life sciences company’s stock worth $5,712,000 after purchasing an additional 2,338 shares in the last quarter. CCLA Investment Management lifted its position in Illumina by 20.5% during the fourth quarter. CCLA Investment Management now owns 535,050 shares of the life sciences company’s stock valued at $71,493,000 after buying an additional 91,122 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Illumina by 65.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 32,806 shares of the life sciences company’s stock valued at $4,278,000 after buying an additional 12,986 shares in the last quarter. 89.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ILMN. Hsbc Global Res raised shares of Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price target for the company in a research report on Thursday, October 17th. Piper Sandler lowered their target price on shares of Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Canaccord Genuity Group upped their price target on Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. TD Cowen lifted their price objective on Illumina from $166.00 to $177.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Citigroup cut Illumina from a “buy” rating to a “neutral” rating and cut their target price for the stock from $190.00 to $165.00 in a research note on Wednesday, December 11th. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $164.84.

Illumina Stock Down 5.3 %

Shares of Illumina stock opened at $124.20 on Wednesday. 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 company has a market cap of $19.70 billion, a price-to-earnings ratio of -12.47 and a beta of 1.10. The company’s 50 day moving average is $138.57 and its 200 day moving average is $135.43.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS. Research analysts anticipate that Illumina, Inc. will post 4.13 EPS for the current 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.