Piedmont Investment Advisors Inc. boosted its holdings in Illumina, Inc. (NASDAQ:ILMN) by 31.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 22,209 shares of the life sciences company’s stock after acquiring an additional 5,337 shares during the period. Piedmont Investment Advisors Inc.’s holdings in Illumina were worth $8,152,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC raised its stake in Illumina by 10.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 23,555 shares of the life sciences company’s stock worth $6,579,000 after purchasing an additional 2,141 shares in the last quarter. Standard Life Aberdeen plc raised its stake in Illumina by 31.1% in the 2nd quarter. Standard Life Aberdeen plc now owns 34,546 shares of the life sciences company’s stock worth $9,650,000 after purchasing an additional 8,199 shares in the last quarter. Waters Parkerson & CO. LLC acquired a new stake in Illumina in the 2nd quarter worth about $223,000. Bank of Nova Scotia raised its stake in Illumina by 216.4% in the 2nd quarter. Bank of Nova Scotia now owns 59,185 shares of the life sciences company’s stock worth $16,529,000 after purchasing an additional 40,478 shares in the last quarter. Finally, Eqis Capital Management Inc. raised its stake in Illumina by 40.7% in the 2nd quarter. Eqis Capital Management Inc. now owns 9,676 shares of the life sciences company’s stock worth $2,702,000 after purchasing an additional 2,797 shares in the last quarter. Institutional investors and hedge funds own 90.13% of the company’s stock.
Several analysts have weighed in on the stock. Piper Jaffray Companies lifted their price objective on shares of Illumina to $380.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 2nd. BidaskClub cut shares of Illumina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 4th. Cowen boosted their target price on shares of Illumina from $315.00 to $400.00 and gave the company a “positive” rating in a research report on Thursday, September 6th. Argus set a $372.00 target price on shares of Illumina and gave the company a “buy” rating in a research report on Friday, August 10th. Finally, Morgan Stanley upgraded shares of Illumina from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $210.00 to $320.00 in a research report on Tuesday, August 7th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $330.94.
Shares of NASDAQ:ILMN traded down $0.37 during midday trading on Thursday, hitting $307.86. The stock had a trading volume of 2,310 shares, compared to its average volume of 932,788. The stock has a market capitalization of $45.63 billion, a PE ratio of 76.50, a PEG ratio of 2.30 and a beta of 1.07. The company has a current ratio of 2.46, a quick ratio of 2.24 and a debt-to-equity ratio of 0.24. Illumina, Inc. has a fifty-two week low of $203.83 and a fifty-two week high of $372.61.
Illumina (NASDAQ:ILMN) last issued its earnings results on Tuesday, October 23rd. The life sciences company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.26 by $0.26. The company had revenue of $853.00 million during the quarter, compared to analysts’ expectations of $825.65 million. Illumina had a net margin of 21.09% and a return on equity of 27.10%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.11 EPS. On average, research analysts predict that Illumina, Inc. will post 5.75 EPS for the current fiscal year.
Illumina, Inc provides sequencing and array-based solutions for genetic analysis. The company operates in two segments, Core Illumina and Consolidated VIEs. It offers sequencing by synthesis technology that provides researchers with various applications and the ability to sequence mammalian genomes; and arrays for a range of deoxyribonucleic acid and RNA analysis applications, including single nucleotide polymorphism genotyping, copy number variations analysis, gene expression analysis, and methylation analysis, as well as allow the detection of known genetic markers on a single array.
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