AIA Group Ltd Grows Position in Illumina, Inc. (NASDAQ:ILMN)

AIA Group Ltd increased its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 104.7% during the first quarter, Holdings Channel reports. The institutional investor owned 52,870 shares of the life sciences company’s stock after buying an additional 27,041 shares during the quarter. AIA Group Ltd’s holdings in Illumina were worth $7,260,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Illumina by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 18,178,513 shares of the life sciences company’s stock valued at $2,531,176,000 after purchasing an additional 210,755 shares during the last quarter. Edgewood Management LLC increased its stake in Illumina by 4.6% in the fourth quarter. Edgewood Management LLC now owns 6,878,495 shares of the life sciences company’s stock valued at $957,762,000 after purchasing an additional 302,222 shares during the last quarter. Baillie Gifford & Co. increased its stake in Illumina by 8.7% in the first quarter. Baillie Gifford & Co. now owns 5,736,418 shares of the life sciences company’s stock valued at $787,725,000 after purchasing an additional 460,649 shares during the last quarter. WCM Investment Management LLC increased its stake in Illumina by 2,232.3% in the first quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock valued at $463,760,000 after purchasing an additional 3,232,418 shares during the last quarter. Finally, Capital World Investors purchased a new position in Illumina in the fourth quarter valued at approximately $271,753,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Price Performance

Shares of NASDAQ ILMN traded down $1.91 during trading on Friday, hitting $116.09. 1,611,620 shares of the company were exchanged, compared to its average volume of 2,175,307. The company has a market cap of $18.49 billion, a price-to-earnings ratio of -14.24 and a beta of 1.15. Illumina, Inc. has a 1 year low of $89.00 and a 1 year high of $195.64. The firm’s fifty day moving average price is $108.95 and its 200 day moving average price is $125.61. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.36.

Illumina (NASDAQ:ILMN) last issued its earnings results on Thursday, May 2nd. The life sciences company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. The business’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.08 EPS. On average, sell-side analysts expect that Illumina, Inc. will post 0.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. OTR Global restated a “mixed” rating on shares of Illumina in a research report on Wednesday, March 20th. Barclays raised their target price on shares of Illumina from $85.00 to $100.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 10th. Stephens restated an “overweight” rating and set a $170.00 target price on shares of Illumina in a research report on Wednesday. Jefferies Financial Group assumed coverage on shares of Illumina in a research report on Monday, June 3rd. They set a “hold” rating and a $115.00 target price on the stock. Finally, Evercore ISI lowered their target price on shares of Illumina from $195.00 to $175.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 11th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $158.57.

Illumina 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.