Daiwa Securities Group Inc. Lowers Position in Illumina, Inc. (NASDAQ:ILMN)

Daiwa Securities Group Inc. cut its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 10.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,058 shares of the life sciences company’s stock after selling 8,783 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Illumina were worth $9,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ILMN. Westfield Capital Management Co. LP purchased a new position in Illumina in the 3rd quarter worth $370,000. Senvest Management LLC lifted its holdings in Illumina by 0.3% in the 3rd quarter. Senvest Management LLC now owns 895,760 shares of the life sciences company’s stock worth $116,816,000 after buying an additional 2,990 shares during the period. Cerity Partners LLC increased its position in Illumina by 172.2% during the 3rd quarter. Cerity Partners LLC now owns 24,076 shares of the life sciences company’s stock valued at $3,140,000 after purchasing an additional 15,231 shares during the period. Icon Wealth Advisors LLC increased its position in shares of Illumina by 124.1% during the third quarter. Icon Wealth Advisors LLC now owns 2,346 shares of the life sciences company’s stock valued at $306,000 after buying an additional 1,299 shares during the period. Finally, Citigroup Inc. raised its position in shares of Illumina by 8.9% in the 3rd quarter. Citigroup Inc. now owns 234,183 shares of the life sciences company’s stock worth $30,540,000 after acquiring an additional 19,198 shares in the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Stock Up 2.6 %

Shares of ILMN stock opened at $143.82 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. Illumina, Inc. has a one year low of $93.51 and a one year high of $156.66. The company’s fifty day moving average price is $140.90 and its 200-day moving average price is $125.17. The company has a market capitalization of $22.81 billion, a price-to-earnings ratio of -14.44 and a beta of 1.13.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the firm earned $0.33 earnings per share. Sell-side analysts expect that Illumina, Inc. will post 4.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Illumina from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Barclays upped their target price on shares of Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. StockNews.com initiated coverage on shares of Illumina in a research note on Thursday, August 29th. They issued a “buy” rating for the company. Daiwa America upgraded shares of Illumina to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Canaccord Genuity Group lifted their target price on shares of Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.00.

Illumina Company 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.