Bank of Montreal Can Boosts Holdings in Illumina, Inc. (NASDAQ:ILMN)

Bank of Montreal Can lifted its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 6.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,254 shares of the life sciences company’s stock after acquiring an additional 8,730 shares during the period. Bank of Montreal Can owned 0.10% of Illumina worth $19,681,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Stephens lifted their price objective on Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Robert W. Baird boosted their price objective on shares of Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Daiwa Capital Markets raised shares of Illumina from a “neutral” rating to a “buy” rating and raised their target price for the company from $120.00 to $154.00 in a research note on Friday, August 16th. Hsbc Global Res raised shares of Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price target for the company in a research report on Thursday, October 17th. Finally, StockNews.com assumed coverage on Illumina in a research report on Thursday, August 29th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently 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 Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. Illumina, Inc. has a 1 year low of $99.23 and a 1 year high of $156.66. The firm’s 50-day simple moving average is $141.88 and its 200-day simple moving average is $125.88. The firm has a market cap of $22.86 billion, a PE ratio of -14.47 and a beta of 1.13.

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 the consensus estimate of $0.88 by $0.26. The firm had revenue of $1.08 billion for 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%. Illumina’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 earnings per share. Equities analysts forecast that Illumina, Inc. will post 4.11 earnings per share for the current fiscal 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.