Concentric Capital Strategies LP Takes $13.37 Million Position in Illumina, Inc. (NASDAQ:ILMN)

Concentric Capital Strategies LP acquired a new position in Illumina, Inc. (NASDAQ:ILMN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 102,518 shares of the life sciences company’s stock, valued at approximately $13,369,000. Concentric Capital Strategies LP owned 0.06% of Illumina as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake 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. acquired a new position in Illumina during the second quarter worth $34,000. Massmutual Trust Co. FSB ADV grew its stake 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 buying an additional 168 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Illumina in the 2nd quarter valued at $61,000. Finally, Private Trust Co. NA lifted its stake in Illumina by 81.2% during the 3rd quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock worth $62,000 after acquiring an additional 212 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. StockNews.com began coverage on shares of Illumina in a research report on Thursday, August 29th. They set a “buy” rating on the stock. Royal Bank of Canada boosted their price target on shares of Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Daiwa Capital Markets upgraded Illumina from a “neutral” rating to a “buy” rating and increased their price objective for the company from $120.00 to $154.00 in a research note on Friday, August 16th. UBS Group boosted their target price on Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, Hsbc Global Res raised Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price target on the stock in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.00.

Illumina Stock Performance

Shares of Illumina stock opened at $144.15 on Monday. The firm’s fifty day simple moving average is $141.88 and its 200-day simple moving average is $126.03. Illumina, Inc. has a 12 month low of $99.23 and a 12 month high of $156.66. The stock has a market capitalization of $22.86 billion, a price-to-earnings ratio of -14.47 and a beta of 1.13. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85.

Illumina (NASDAQ:ILMN) last announced its earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations 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 revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 earnings per share. As a group, equities analysts forecast that Illumina, Inc. will post 4.11 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.