New York State Teachers Retirement System Cuts Stock Position in Illumina, Inc. (NASDAQ:ILMN)

New York State Teachers Retirement System decreased its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,623 shares of the life sciences company’s stock after selling 3,700 shares during the period. New York State Teachers Retirement System’s holdings in Illumina were worth $19,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in ILMN. Strategic Blueprint LLC purchased a new position in Illumina during the third quarter valued at $242,000. Integrated Advisors Network LLC raised its position in shares of Illumina by 2.0% during the 3rd quarter. Integrated Advisors Network LLC now owns 4,484 shares of the life sciences company’s stock worth $585,000 after purchasing an additional 90 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Illumina by 65.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 32,806 shares of the life sciences company’s stock valued at $4,278,000 after buying an additional 12,986 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in Illumina in the 3rd quarter worth about $904,000. Finally, Asahi Life Asset Management CO. LTD. purchased a new stake in Illumina during the 3rd quarter worth approximately $401,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ILMN shares. UBS Group lifted their price target on Illumina from $131.00 to $133.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $252.00 target price on shares of Illumina in a report on Thursday, October 10th. Daiwa Capital Markets raised shares of Illumina from a “neutral” rating to a “buy” rating and raised their price target for the stock from $120.00 to $154.00 in a research note on Friday, August 16th. Stephens reaffirmed an “overweight” rating and set a $170.00 price objective on shares of Illumina in a research note on Wednesday, July 10th. Finally, TD Cowen upgraded shares of Illumina from a “hold” rating to a “buy” rating and increased their price objective for the company from $126.00 to $144.00 in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $154.33.

Illumina Price Performance

Illumina stock opened at $149.76 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11. The company has a market capitalization of $23.86 billion, a price-to-earnings ratio of -7.82 and a beta of 1.15. The company’s 50 day simple moving average is $135.93 and its 200-day simple moving average is $122.33. Illumina, Inc. has a 1 year low of $89.00 and a 1 year high of $151.40.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.24. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the firm earned $0.32 earnings per share. The firm’s revenue was down 5.4% compared to the same quarter last year. As a group, equities research analysts expect that Illumina, Inc. will post 3.63 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.