Concurrent Investment Advisors LLC Invests $209,000 in Illumina, Inc. (NASDAQ:ILMN)

Concurrent Investment Advisors LLC purchased a new position in shares of Illumina, Inc. (NASDAQ:ILMN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,600 shares of the life sciences company’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Radnor Capital Management LLC purchased a new position in Illumina during the third quarter worth about $910,000. Focused Wealth Management Inc acquired a new stake in shares of Illumina in the 3rd quarter valued at approximately $63,000. Impax Asset Management Group plc boosted its stake in shares of Illumina by 923.6% in the third quarter. Impax Asset Management Group plc now owns 63,973 shares of the life sciences company’s stock valued at $8,343,000 after buying an additional 57,723 shares in the last quarter. Capital Investment Services of America Inc. grew its holdings in Illumina by 3.3% during the third quarter. Capital Investment Services of America Inc. now owns 82,966 shares of the life sciences company’s stock worth $10,820,000 after acquiring an additional 2,630 shares during the period. Finally, Quintet Private Bank Europe S.A. raised its position in Illumina by 16.0% in the third quarter. Quintet Private Bank Europe S.A. now owns 1,403 shares of the life sciences company’s stock worth $183,000 after acquiring an additional 194 shares in the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ILMN shares. Barclays upped their price target on Illumina from $135.00 to $145.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Scotiabank decreased their price target on Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 15th. Leerink Partners boosted their price objective on shares of Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a report on Thursday, October 17th. Finally, Citigroup increased their target price on shares of Illumina from $155.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $163.71.

Illumina Stock Performance

Shares of NASDAQ ILMN opened at $151.50 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. The firm’s 50-day moving average price is $138.09 and its two-hundred day moving average price is $123.55. Illumina, Inc. has a 52-week low of $92.26 and a 52-week high of $156.66. The stock has a market capitalization of $24.03 billion, a P/E ratio of -15.16 and a beta of 1.13.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.26. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Illumina, Inc. will post 4.11 earnings per share for the current year.

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.