Primecap Management Co. CA Increases Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Primecap Management Co. CA lifted its holdings in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 3.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,516,359 shares of the life sciences company's stock after purchasing an additional 87,599 shares during the period. Primecap Management Co. CA owned about 1.58% of Illumina worth $328,158,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Illumina in the 2nd quarter worth approximately $34,000. Versant Capital Management Inc lifted its position in shares of Illumina by 292.9% in the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company's stock worth $34,000 after purchasing an additional 246 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in shares of Illumina by 65.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company's stock worth $56,000 after purchasing an additional 168 shares during the period. Focused Wealth Management Inc purchased a new stake in Illumina during the third quarter valued at approximately $63,000. Finally, Hollencrest Capital Management purchased a new stake in Illumina during the third quarter valued at approximately $63,000. Hedge funds and other institutional investors own 89.42% of the company's stock.

Illumina Trading Down 2.5 %

ILMN stock opened at $131.68 on Thursday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. Illumina, Inc. has a one year low of $93.51 and a one year high of $156.66. The firm's fifty day moving average is $140.18 and its 200 day moving average is $124.52.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.26. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The company's revenue was down 3.5% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. On average, sell-side analysts forecast that Illumina, Inc. will post 4.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ILMN has been the subject of a number of analyst reports. Piper Sandler decreased their target price on shares of Illumina from $195.00 to $185.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Morgan Stanley reissued an "equal weight" rating and set a $156.00 target price on shares of Illumina in a research report on Tuesday, November 12th. Hsbc Global Res raised shares of Illumina from a "hold" rating to a "strong-buy" rating and set a $180.00 target price for the company in a research report on Thursday, October 17th. Royal Bank of Canada upped their price target on shares of Illumina from $252.00 to $254.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. Finally, Argus upgraded shares of Illumina from a "hold" rating to a "buy" rating and set a $150.00 price target on the stock in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Illumina currently has an average rating of "Moderate Buy" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.