Commerce Bank Buys 217 Shares of Illumina, Inc. (NASDAQ:ILMN)

Commerce Bank raised its position in Illumina, Inc. (NASDAQ:ILMN) by 3.5% during the third quarter, Holdings Channel reports. The institutional investor owned 6,376 shares of the life sciences company’s stock after buying an additional 217 shares during the quarter. Commerce Bank’s holdings in Illumina were worth $831,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of Illumina by 7.2% during the second quarter. Bank of New York Mellon Corp now owns 3,039,538 shares of the life sciences company’s stock worth $317,267,000 after buying an additional 204,043 shares during the last quarter. Primecap Management Co. CA grew its holdings in Illumina by 462.5% during the 2nd quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock worth $253,514,000 after acquiring an additional 1,997,010 shares during the period. Millennium Management LLC raised its position in shares of Illumina by 305.0% during the 2nd quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock valued at $155,067,000 after acquiring an additional 1,118,747 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Illumina by 32.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,000,318 shares of the life sciences company’s stock valued at $104,413,000 after acquiring an additional 242,800 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Illumina in the 2nd quarter valued at $77,628,000. 89.42% of the stock is owned by institutional investors and hedge funds.

Illumina Stock Performance

Shares of ILMN opened at $143.82 on Tuesday. 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, Inc. has a 12 month low of $93.51 and a 12 month high of $156.66. The firm has a fifty day simple moving average of $140.90 and a 200 day simple moving average of $125.17. The stock has a market capitalization of $22.81 billion, a price-to-earnings ratio of -14.44 and a beta of 1.13.

Illumina (NASDAQ:ILMN) last released its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the business earned $0.33 earnings per share. Illumina’s quarterly revenue was down 3.5% on a year-over-year basis. Research analysts forecast that Illumina, Inc. will post 4.11 EPS for the current fiscal year.

Analyst Ratings Changes

ILMN has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Citigroup upped their price target on Illumina from $155.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. TD Cowen lifted their price objective on shares of Illumina from $166.00 to $177.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Argus raised shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Wednesday, August 28th. Finally, Daiwa Capital Markets raised shares of Illumina from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $120.00 to $154.00 in a research report on Friday, August 16th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.00.

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.