Forsta AP Fonden Increases Stock Holdings in Illumina, Inc. (NASDAQ:ILMN)

Forsta AP Fonden raised its stake in Illumina, Inc. (NASDAQ:ILMN) by 10.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,000 shares of the life sciences company’s stock after purchasing an additional 3,100 shares during the quarter. Forsta AP Fonden’s holdings in Illumina were worth $4,434,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Illumina by 7.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,450 shares of the life sciences company’s stock valued at $9,818,000 after buying an additional 5,171 shares in the last quarter. Lyell Wealth Management LP purchased a new stake in shares of Illumina in the third quarter valued at approximately $210,000. Allworth Financial LP boosted its stake in shares of Illumina by 52.2% in the third quarter. Allworth Financial LP now owns 869 shares of the life sciences company’s stock valued at $113,000 after buying an additional 298 shares in the last quarter. Bank of Stockton acquired a new position in Illumina during the third quarter worth $272,000. Finally, Lake Street Advisors Group LLC acquired a new position in Illumina during the third quarter worth $207,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Price Performance

ILMN stock opened at $146.00 on Wednesday. The stock has a 50-day moving average price of $134.96 and a two-hundred day moving average price of $121.80. Illumina, Inc. has a 12-month low of $89.00 and a 12-month high of $151.40. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04. The company has a market cap of $23.26 billion, a PE ratio of -17.91 and a beta of 1.15.

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

Wall Street Analyst Weigh In

ILMN has been the subject of several research reports. Scotiabank reduced their price objective on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a report on Thursday, August 15th. JPMorgan Chase & Co. reduced their price objective on Illumina from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. HSBC raised Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Thursday, October 17th. Leerink Partners lifted 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. Finally, Stephens reissued an “overweight” rating and issued a $170.00 price target on shares of Illumina in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Illumina currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.33.

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.