Jennison Associates LLC Purchases 89,663 Shares of Illumina, Inc. (NASDAQ:ILMN)

Jennison Associates LLC increased its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 45.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 288,062 shares of the life sciences company’s stock after buying an additional 89,663 shares during the period. Jennison Associates LLC owned 0.18% of Illumina worth $37,566,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in Illumina by 292.9% in the second 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 last quarter. Industrial Alliance Investment Management Inc. bought a new stake in shares of Illumina during the 2nd quarter valued at $34,000. Massmutual Trust Co. FSB ADV lifted its stake 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. bought a new position in shares of Illumina in the 2nd quarter worth $61,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in Illumina in the second quarter valued at about $63,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Illumina Trading Up 4.1 %

NASDAQ ILMN opened at $137.09 on Friday. Illumina, Inc. has a 12 month low of $93.51 and a 12 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 stock has a 50 day moving average of $140.39 and a 200-day moving average of $124.61. The company has a market cap of $21.74 billion, a PE ratio of -13.76 and a beta of 1.13.

Illumina (NASDAQ:ILMN) last announced its quarterly 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 firm 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 company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 earnings per share. On average, equities research analysts anticipate that Illumina, Inc. will post 4.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ILMN shares. StockNews.com started coverage on Illumina in a research report on Thursday, August 29th. They set a “buy” rating for the company. Canaccord Genuity Group upped their target price on shares of Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Leerink Partners lifted their price target on shares of Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Stephens upped their price objective on shares of Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Finally, Argus upgraded Illumina from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Illumina currently has an average rating of “Moderate Buy” and an average target price of $164.00.

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.