Massachusetts Financial Services Co. MA Purchases 631,294 Shares of Illumina, Inc. (NASDAQ:ILMN)

Massachusetts Financial Services Co. MA grew its position in Illumina, Inc. (NASDAQ:ILMN) by 148.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,056,172 shares of the life sciences company’s stock after acquiring an additional 631,294 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Illumina were worth $137,735,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc raised its position in Illumina by 292.9% in the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after purchasing an additional 246 shares during the period. Industrial Alliance Investment Management Inc. bought a new position in shares of Illumina during the second quarter valued at approximately $34,000. Massmutual Trust Co. FSB ADV raised 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 worth $56,000 after buying an additional 168 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Illumina during the 2nd quarter worth approximately $61,000. Finally, Mizuho Securities Co. Ltd. bought a new position in Illumina in the 2nd quarter valued at $63,000. Institutional investors own 89.42% of the company’s stock.

Wall Street Analyst Weigh In

ILMN has been the subject of several research analyst reports. Stephens lifted their target price on Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Daiwa Capital Markets raised shares of Illumina from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $120.00 to $154.00 in a research report on Friday, August 16th. 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 research report on Tuesday, November 5th. UBS Group boosted their price target on Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Piper Sandler reduced their price objective on Illumina from $195.00 to $185.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $164.00.

Illumina Stock Up 2.3 %

NASDAQ:ILMN opened at $140.14 on Friday. The company’s 50 day moving average is $140.61 and its two-hundred day moving average is $124.84. The company has a market cap of $22.23 billion, a PE ratio of -14.07 and a beta of 1.13. Illumina, Inc. has a twelve month low of $93.51 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 announced its quarterly earnings data 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. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 earnings per share. Analysts anticipate that Illumina, Inc. will post 4.11 EPS for the current 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.