Zacks Investment Management Takes Position in Illumina, Inc. (NASDAQ:ILMN)

Zacks Investment Management purchased a new position in Illumina, Inc. (NASDAQ:ILMN - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 22,424 shares of the life sciences company's stock, valued at approximately $2,924,000.

Other large investors also recently bought and sold shares of the company. Kovitz Investment Group Partners LLC purchased a new stake in Illumina during the 3rd quarter worth approximately $414,000. Wellington Management Group LLP increased its holdings in Illumina by 2.5% in the third quarter. Wellington Management Group LLP now owns 30,946 shares of the life sciences company's stock valued at $4,036,000 after buying an additional 755 shares during the last quarter. Worldquant Millennium Advisors LLC grew its position in shares of Illumina by 31.0% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 315,221 shares of the life sciences company's stock worth $41,108,000 after acquiring an additional 74,627 shares in the last quarter. Wahed Invest LLC boosted its holdings in Illumina by 13.2% in the third quarter. Wahed Invest LLC now owns 3,867 shares of the life sciences company's stock worth $504,000 after purchasing an additional 451 shares during the period. Finally, Soros Fund Management LLC acquired a new stake in shares of Illumina during the third quarter worth $22,822,000. Institutional investors and hedge funds own 89.42% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ILMN shares. Scotiabank cut their target price on shares of Illumina from $176.00 to $164.00 and set a "sector outperform" rating on the stock in a report on Thursday, August 15th. Royal Bank of Canada boosted their price objective on Illumina from $252.00 to $254.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. UBS Group increased their target price on Illumina from $133.00 to $145.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Daiwa Capital Markets raised shares of Illumina from a "neutral" rating to a "buy" rating and boosted their price target for the company from $120.00 to $154.00 in a report on Friday, August 16th. Finally, Stephens increased their price objective on shares of Illumina from $170.00 to $184.00 and gave the stock an "overweight" rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $164.00.

Illumina Stock Up 4.6 %

Shares of ILMN stock traded up $6.44 on Monday, reaching $147.53. 2,119,819 shares of the company's stock traded hands, compared to its average volume of 2,015,631. The company has a market capitalization of $23.40 billion, a P/E ratio of -14.81 and a beta of 1.11. Illumina, Inc. has a 12-month low of $100.08 and a 12-month high of $156.66. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. The business's 50 day moving average price is $143.46 and its two-hundred day moving average price is $127.45.

Illumina (NASDAQ:ILMN - Get Free Report) last released its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.26. The company 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 revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 EPS. On average, equities analysts forecast that Illumina, Inc. will post 4.11 earnings per share 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.