Iron Triangle Partners LP Invests $57.38 Million in Illumina, Inc. (NASDAQ:ILMN)

Iron Triangle Partners LP purchased a new position in shares of Illumina, Inc. (NASDAQ:ILMN) in the third quarter, HoldingsChannel.com reports. The fund purchased 440,000 shares of the life sciences company’s stock, valued at approximately $57,380,000. Illumina comprises 7.9% of Iron Triangle Partners LP’s holdings, making the stock its 3rd largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc increased its holdings 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 acquiring an additional 246 shares during the period. Industrial Alliance Investment Management Inc. purchased a new position in shares of Illumina in the 2nd quarter valued at about $34,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of Illumina by 65.1% in the third 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. purchased a new position in Illumina in the 2nd quarter valued at approximately $61,000. Finally, Private Trust Co. NA grew its stake in shares of Illumina by 81.2% during the 3rd quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock valued at $62,000 after buying an additional 212 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

Wall Street Analysts Forecast Growth

ILMN has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Illumina from $125.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. StockNews.com began coverage on shares of Illumina in a report on Thursday, August 29th. They set a “buy” rating for the company. HSBC upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Thursday, October 17th. Scotiabank reduced their price objective on Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 15th. Finally, Royal Bank of Canada raised their price target on shares of Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Illumina currently has an average rating of “Moderate Buy” and a consensus price target of $164.00.

Illumina Trading Up 0.7 %

NASDAQ:ILMN opened at $145.15 on Tuesday. The company has a fifty day moving average of $141.88 and a 200-day moving average of $126.03. Illumina, Inc. has a twelve month low of $100.08 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.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the business posted $0.33 EPS. The business’s revenue was down 3.5% on a year-over-year basis. On average, analysts predict that Illumina, Inc. will post 4.11 earnings per share for the current fiscal year.

About Illumina

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.