Continental Investors Services Inc. Buys Shares of 65,920 Illumina, Inc. (NASDAQ:ILMN)

Continental Investors Services Inc. bought a new stake in Illumina, Inc. (NASDAQ:ILMN – Get Rating) in the third quarter, HoldingsChannel.com reports. The fund bought 65,920 shares of the life sciences company’s stock, valued at approximately $13,407,000. Illumina comprises 3.0% of Continental Investors Services Inc.’s holdings, making the stock its 4th biggest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Polen Capital Management LLC raised its holdings in shares of Illumina by 62.0% during the third quarter. Polen Capital Management LLC now owns 4,521,397 shares of the life sciences company’s stock valued at $862,637,000 after buying an additional 1,731,169 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Illumina by 74.4% during the third quarter. Alliancebernstein L.P. now owns 1,574,461 shares of the life sciences company’s stock valued at $300,391,000 after buying an additional 671,462 shares during the last quarter. Pictet Asset Management SA raised its holdings in shares of Illumina by 188.8% during the third quarter. Pictet Asset Management SA now owns 507,090 shares of the life sciences company’s stock valued at $96,748,000 after buying an additional 331,515 shares during the last quarter. Senator Investment Group LP bought a new stake in shares of Illumina during the third quarter valued at approximately $47,698,000. Finally, Federated Hermes Inc. raised its holdings in shares of Illumina by 240.0% during the first quarter. Federated Hermes Inc. now owns 258,226 shares of the life sciences company’s stock valued at $90,225,000 after buying an additional 182,272 shares during the last quarter. 87.97% of the stock is currently owned by institutional investors and hedge funds.

Illumina Trading Down 0.2 %

NASDAQ ILMN opened at $224.55 on Friday. Illumina, Inc. has a twelve month low of $173.45 and a twelve month high of $371.16. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.08 and a current ratio of 1.28. The stock has a market cap of $35.48 billion, a price-to-earnings ratio of -8.02, a PEG ratio of 8.32 and a beta of 1.15. The firm’s 50 day moving average price is $208.86 and its two-hundred day moving average price is $208.73.

Illumina (NASDAQ:ILMN – Get Rating) last posted its quarterly earnings data on Tuesday, February 7th. The life sciences company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.11). Illumina had a positive return on equity of 3.79% and a negative net margin of 96.12%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the firm posted $0.75 earnings per share. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. Equities analysts anticipate that Illumina, Inc. will post 1.41 EPS for the current year.

Insiders Place Their Bets

In other Illumina news, SVP Aimee L. Hoyt sold 871 shares of Illumina stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $205.57, for a total transaction of $179,051.47. Following the transaction, the senior vice president now directly owns 2,796 shares in the company, valued at approximately $574,773.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Aimee L. Hoyt sold 871 shares of the business’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $205.57, for a total transaction of $179,051.47. Following the transaction, the senior vice president now directly owns 2,796 shares in the company, valued at approximately $574,773.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Susan H. Tousi sold 500 shares of the business’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $211.57, for a total transaction of $105,785.00. Following the transaction, the senior vice president now owns 38,276 shares in the company, valued at $8,098,053.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,186 shares of company stock worth $2,255,837. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ILMN. Bank of America boosted their target price on Illumina from $210.00 to $230.00 in a report on Wednesday, February 8th. Barclays dropped their target price on Illumina from $160.00 to $150.00 and set an “underweight” rating on the stock in a report on Wednesday, February 8th. Citigroup cut Illumina from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $200.00 to $180.00 in a report on Monday, December 12th. Cowen dropped their target price on Illumina from $350.00 to $296.00 in a report on Tuesday, January 10th. Finally, Scotiabank began coverage on Illumina in a report on Wednesday, January 4th. They set a “sector perform” rating and a $216.00 target price on the stock. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $249.40.

Illumina Company Profile

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Illumina, Inc engages in the development, manufacturing, and marketing of life science tools and integrated systems for large-scale analysis of genetic variation and function. It operates through the Core Illumina segment, which serves customers in the research, clinical and applied markets fields, and enables the adoption of a variety of genomic solutions.