Plato Investment Management Ltd Grows Stake in Illumina, Inc. (NASDAQ:ILMN)

Plato Investment Management Ltd grew its holdings in Illumina, Inc. (NASDAQ:ILMN) by 238.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 13,795 shares of the life sciences company’s stock after acquiring an additional 9,722 shares during the quarter. Plato Investment Management Ltd’s holdings in Illumina were worth $1,797,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Versant Capital Management Inc boosted its position in shares of Illumina by 292.9% in the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after purchasing an additional 246 shares during the period. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Illumina in the 2nd quarter valued at about $34,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Illumina by 65.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after purchasing an additional 168 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of Illumina in the 2nd quarter valued at about $61,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in shares of Illumina during the 2nd quarter worth approximately $63,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ILMN shares. StockNews.com started coverage on Illumina in a research note on Thursday, August 29th. They set a “buy” rating for the company. Royal Bank of Canada increased their target price on Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Piper Sandler dropped their price objective on Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday. Hsbc Global Res raised Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price objective for the company in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their price objective on Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Illumina currently has an average rating of “Moderate Buy” and an average price target of $164.00.

Illumina Stock Performance

Shares of Illumina stock opened at $142.24 on Friday. Illumina, Inc. has a twelve month low of $92.69 and a twelve month high of $156.66. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. The business’s fifty day moving average price is $139.20 and its 200 day moving average price is $124.10.

Illumina (NASDAQ:ILMN) last issued its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the firm earned $0.33 earnings per share. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, equities analysts expect that Illumina, Inc. will post 4.11 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.