Cinctive Capital Management LP Has $16.89 Million Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Cinctive Capital Management LP boosted its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 188.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 129,510 shares of the life sciences company’s stock after purchasing an additional 84,655 shares during the quarter. Illumina accounts for about 0.9% of Cinctive Capital Management LP’s holdings, making the stock its 21st biggest position. Cinctive Capital Management LP’s holdings in Illumina were worth $16,889,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ILMN. Versant Capital Management Inc raised its position in Illumina by 292.9% during the second 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 during the period. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Illumina during the second quarter worth approximately $34,000. Massmutual Trust Co. FSB ADV grew its position in Illumina by 65.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after purchasing an additional 168 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in Illumina in the 2nd quarter valued at approximately $61,000. Finally, Private Trust Co. NA boosted its stake in shares of Illumina by 81.2% during the 3rd quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock valued at $62,000 after buying an additional 212 shares during the period. 89.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ILMN has been the topic of several research reports. StockNews.com initiated coverage on Illumina in a research report on Thursday, August 29th. They issued a “buy” rating on the stock. Leerink Partners increased their price objective on Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. UBS Group boosted their target price on shares of Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Scotiabank cut their price target 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. Finally, Stephens upped 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 analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.00.

Illumina Stock Down 0.1 %

NASDAQ:ILMN opened at $144.15 on Monday. Illumina, Inc. has a 1 year low of $99.23 and a 1 year high of $156.66. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. The stock has a 50-day moving average price of $141.88 and a two-hundred day moving average price of $126.03. The stock has a market cap of $22.86 billion, a price-to-earnings ratio of -14.47 and a beta of 1.13.

Illumina (NASDAQ:ILMN) last released its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. The firm had revenue of $1.08 billion during 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 company’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 EPS. As a group, equities analysts expect 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.