Primecap Management Co. CA Acquires 1,997,010 Shares of Illumina, Inc. (NASDAQ:ILMN)

Primecap Management Co. CA increased its holdings in Illumina, Inc. (NASDAQ:ILMN) by 462.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,428,760 shares of the life sciences company’s stock after purchasing an additional 1,997,010 shares during the quarter. Primecap Management Co. CA owned 1.52% of Illumina worth $253,514,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Illumina by 0.4% in the first quarter. Vanguard Group Inc. now owns 18,245,041 shares of the life sciences company’s stock worth $2,505,409,000 after buying an additional 66,528 shares during the period. Edgewood Management LLC grew its holdings in shares of Illumina by 4.6% in the fourth quarter. Edgewood Management LLC now owns 6,878,495 shares of the life sciences company’s stock worth $957,762,000 after purchasing an additional 302,222 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of Illumina by 8.7% in the first quarter. Baillie Gifford & Co. now owns 5,736,418 shares of the life sciences company’s stock worth $787,725,000 after buying an additional 460,649 shares during the period. WCM Investment Management LLC raised its holdings in Illumina by 2,232.3% during the 1st quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock valued at $463,760,000 after buying an additional 3,232,418 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Illumina by 7.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,039,538 shares of the life sciences company’s stock valued at $317,267,000 after buying an additional 204,043 shares during the period. 89.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ILMN has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $242.00 target price on shares of Illumina in a report on Wednesday, August 14th. StockNews.com started coverage on Illumina in a research note on Thursday, August 29th. They set a “buy” rating on the stock. Stephens reaffirmed an “overweight” rating and issued a $170.00 price target on shares of Illumina in a research note on Wednesday, July 10th. Evercore ISI decreased their price objective on shares of Illumina from $195.00 to $175.00 and set an “outperform” rating for the company in a report on Tuesday, June 11th. Finally, Scotiabank cut their target price on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $151.05.

Illumina Stock Performance

Shares of Illumina stock opened at $129.52 on Tuesday. Illumina, Inc. has a 1 year low of $89.00 and a 1 year high of $148.19. The firm’s 50-day moving average is $123.79 and its 200 day moving average is $120.61. The stock has a market cap of $20.63 billion, a price-to-earnings ratio of -15.89 and a beta of 1.15. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86.

Illumina (NASDAQ:ILMN) last announced 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. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.09 billion. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The company’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 earnings per share. Sell-side analysts anticipate that Illumina, Inc. will post 3.62 EPS for the current fiscal year.

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.