Beech Hill Advisors Inc. Purchases 1,784 Shares of Illumina, Inc. (NASDAQ:ILMN)

Beech Hill Advisors Inc. raised its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 30.2% during the third quarter, HoldingsChannel.com reports. The fund owned 7,699 shares of the life sciences company’s stock after buying an additional 1,784 shares during the quarter. Beech Hill Advisors Inc.’s holdings in Illumina were worth $1,004,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Trivant Custom Portfolio Group LLC lifted its stake in shares of Illumina by 166.7% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock valued at $27,000 after purchasing an additional 125 shares during the period. Versant Capital Management Inc increased its position in Illumina by 292.9% in the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after buying an additional 246 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in Illumina in the 2nd quarter valued at about $34,000. Massmutual Trust Co. FSB ADV raised its stake in Illumina by 86.8% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock worth $39,000 after buying an additional 132 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new position in Illumina in the second quarter worth approximately $61,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Piper Sandler lowered their target price on Illumina from $200.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Royal Bank of Canada restated an “outperform” rating and set a $252.00 price objective on shares of Illumina in a report on Thursday, October 10th. Scotiabank reduced their price objective on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a report on Thursday, August 15th. Barclays upped their target price on shares of Illumina from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. cut their price target on Illumina from $130.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Illumina presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.05.

Illumina Trading Down 2.5 %

Shares of Illumina stock opened at $143.89 on Thursday. The firm has a market cap of $22.92 billion, a PE ratio of -17.66 and a beta of 1.15. Illumina, Inc. has a 1 year low of $89.00 and a 1 year high of $151.40. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86. The stock has a fifty day moving average price of $131.95 and a 200-day moving average price of $120.95.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.24. The company had revenue of $1.11 billion during 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 firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. Equities research analysts anticipate that Illumina, Inc. will post 3.63 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.