MayTech Global Investments LLC raised its position in Illumina, Inc. (NASDAQ:ILMN) by 62.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 27,661 shares of the life sciences company’s stock after acquiring an additional 10,636 shares during the period. Illumina accounts for approximately 4.3% of MayTech Global Investments LLC’s holdings, making the stock its 11th biggest position. MayTech Global Investments LLC’s holdings in Illumina were worth $7,725,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Global X Management Co. LLC increased its position in Illumina by 8.7% in the first quarter. Global X Management Co. LLC now owns 4,512 shares of the life sciences company’s stock worth $1,067,000 after buying an additional 362 shares during the last quarter. Ashfield Capital Partners LLC grew its position in shares of Illumina by 8.3% in the first quarter. Ashfield Capital Partners LLC now owns 7,762 shares of the life sciences company’s stock valued at $1,835,000 after purchasing an additional 598 shares in the last quarter. Howland Capital Management LLC grew its position in shares of Illumina by 5.3% in the first quarter. Howland Capital Management LLC now owns 5,014 shares of the life sciences company’s stock valued at $1,185,000 after purchasing an additional 254 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Illumina by 21.1% in the first quarter. Daiwa Securities Group Inc. now owns 6,711 shares of the life sciences company’s stock valued at $1,587,000 after purchasing an additional 1,168 shares in the last quarter. Finally, Biondo Investment Advisors LLC grew its position in shares of Illumina by 4.5% in the first quarter. Biondo Investment Advisors LLC now owns 47,313 shares of the life sciences company’s stock valued at $11,186,000 after purchasing an additional 2,033 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.
Illumina stock traded up $1.29 during midday trading on Thursday, hitting $351.92. 3,905 shares of the company’s stock were exchanged, compared to its average volume of 1,132,739. Illumina, Inc. has a 52-week low of $193.63 and a 52-week high of $350.99. The company has a quick ratio of 2.44, a current ratio of 2.74 and a debt-to-equity ratio of 0.22. The stock has a market cap of $50.73 billion, a price-to-earnings ratio of 87.52, a PEG ratio of 2.86 and a beta of 0.97.
Illumina (NASDAQ:ILMN) last posted its earnings results on Monday, July 30th. The life sciences company reported $1.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.32. Illumina had a return on equity of 26.64% and a net margin of 20.88%. The business had revenue of $830.00 million during the quarter, compared to analysts’ expectations of $786.88 million. During the same period in the previous year, the business earned $0.82 earnings per share. The firm’s revenue was up 25.4% on a year-over-year basis. research analysts anticipate that Illumina, Inc. will post 5.46 earnings per share for the current year.
In related news, SVP Mostafa Ronaghi sold 10,000 shares of the business’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $331.39, for a total transaction of $3,313,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Francis A. Desouza sold 2,100 shares of the business’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $272.91, for a total value of $573,111.00. Following the transaction, the insider now owns 85,771 shares of the company’s stock, valued at $23,407,763.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,381 shares of company stock valued at $12,705,431. 0.54% of the stock is owned by company insiders.
Several equities analysts have recently weighed in on ILMN shares. Citigroup lifted their price target on Illumina from $275.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, June 25th. Bank of America lifted their price target on Illumina from $345.00 to $370.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. BidaskClub cut Illumina from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 31st. Deutsche Bank lifted their price target on Illumina from $280.00 to $330.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $340.00 price target (up from $330.00) on shares of Illumina in a research report on Friday, July 27th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Illumina presently has a consensus rating of “Buy” and a consensus target price of $303.53.
Illumina, Inc provides sequencing and array-based solutions for genetic analysis. The company operates in two segments, Core Illumina and Consolidated VIEs. It offers sequencing by synthesis technology that provides researchers with various applications and the ability to sequence mammalian genomes; and arrays for a range of deoxyribonucleic acid and RNA analysis applications, including single nucleotide polymorphism genotyping, copy number variations analysis, gene expression analysis, and methylation analysis, as well as allow the detection of known genetic markers on a single array.
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