Bourne Lent Asset Management Inc. Acquires New Position in Illumina, Inc. (NASDAQ:ILMN)

Bourne Lent Asset Management Inc. bought a new stake in Illumina, Inc. (NASDAQ:ILMN) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 1,830 shares of the life sciences company’s stock, valued at approximately $239,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Trivant Custom Portfolio Group LLC grew its position in shares of Illumina by 166.7% in the first quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock valued at $27,000 after purchasing an additional 125 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in Illumina by 86.8% during the first quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock worth $39,000 after buying an additional 132 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new position in shares of Illumina in the second quarter worth $34,000. Versant Capital Management Inc lifted its position in shares of Illumina by 292.9% in the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after acquiring an additional 246 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Illumina during the second quarter valued at $61,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Illumina Stock Performance

Shares of ILMN stock opened at $147.61 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86. The company’s fifty day moving average price is $131.49 and its two-hundred day moving average price is $120.79. The firm has a market capitalization of $23.51 billion, a P/E ratio of -18.11 and a beta of 1.15. Illumina, Inc. has a 12 month low of $89.00 and a 12 month high of $151.40.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.12 by $0.24. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 earnings per share. On average, research analysts anticipate that Illumina, Inc. will post 3.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ILMN. TD Cowen raised shares of Illumina from a “hold” rating to a “buy” rating and raised their price target for the stock from $126.00 to $144.00 in a research note on Wednesday, August 14th. JPMorgan Chase & Co. decreased their price objective on Illumina from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Citigroup upped their target price on Illumina from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. StockNews.com initiated coverage on shares of Illumina in a research note on Thursday, August 29th. They set a “buy” rating for the company. Finally, Argus raised shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $150.58.

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.