Zurcher Kantonalbank Zurich Cantonalbank Buys 1,433 Shares of Illumina, Inc. (NASDAQ:ILMN)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Illumina, Inc. (NASDAQ:ILMN) by 1.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,579 shares of the life sciences company’s stock after buying an additional 1,433 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Illumina were worth $9,987,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in Illumina by 7.2% in the second quarter. Bank of New York Mellon Corp now owns 3,039,538 shares of the life sciences company’s stock valued at $317,267,000 after acquiring an additional 204,043 shares during the last quarter. Primecap Management Co. CA increased its position in shares of Illumina by 3.6% during the 3rd quarter. Primecap Management Co. CA now owns 2,516,359 shares of the life sciences company’s stock valued at $328,158,000 after purchasing an additional 87,599 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Illumina by 305.0% during the 2nd quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock valued at $155,067,000 after buying an additional 1,118,747 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Illumina by 148.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,056,172 shares of the life sciences company’s stock worth $137,735,000 after buying an additional 631,294 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Illumina by 32.1% in the second quarter. Renaissance Technologies LLC now owns 1,000,318 shares of the life sciences company’s stock worth $104,413,000 after buying an additional 242,800 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup lifted their price target on shares of Illumina from $155.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Royal Bank of Canada boosted their price target on shares of Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. HSBC upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Thursday, October 17th. Hsbc Global Res raised Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 target price for the company in a research note on Thursday, October 17th. Finally, UBS Group increased their target price on Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $164.00.

Illumina Stock Performance

Shares of Illumina stock opened at $144.15 on Monday. Illumina, Inc. has a 12 month low of $99.23 and a 12 month high of $156.66. The firm has a market capitalization of $22.86 billion, a P/E ratio of -14.47 and a beta of 1.13. 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 business has a fifty day simple moving average of $141.88 and a two-hundred day simple moving average of $126.03.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. The business 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 firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. On average, equities analysts forecast that Illumina, Inc. will post 4.11 earnings per share for the current fiscal 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.