The Manufacturers Life Insurance Company Has $13.45 Million Stock Position in Illumina, Inc. (NASDAQ:ILMN)

The Manufacturers Life Insurance Company cut its stake in Illumina, Inc. (NASDAQ:ILMN) by 17.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 103,120 shares of the life sciences company’s stock after selling 22,165 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Illumina were worth $13,448,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Empowered Funds LLC raised its stake in Illumina by 1.7% during the third quarter. Empowered Funds LLC now owns 3,960 shares of the life sciences company’s stock worth $516,000 after acquiring an additional 66 shares in the last quarter. Caprock Group LLC increased its position in shares of Illumina by 3.0% during the 3rd quarter. Caprock Group LLC now owns 2,884 shares of the life sciences company’s stock worth $376,000 after purchasing an additional 83 shares in the last quarter. UMB Bank n.a. lifted its holdings in Illumina by 7.0% during the 2nd quarter. UMB Bank n.a. now owns 1,341 shares of the life sciences company’s stock valued at $140,000 after purchasing an additional 88 shares during the last quarter. Integrated Advisors Network LLC boosted its position in Illumina by 2.0% in the third quarter. Integrated Advisors Network LLC now owns 4,484 shares of the life sciences company’s stock valued at $585,000 after buying an additional 90 shares in the last quarter. Finally, Moors & Cabot Inc. grew its stake in Illumina by 1.7% during the third quarter. Moors & Cabot Inc. now owns 5,818 shares of the life sciences company’s stock worth $759,000 after buying an additional 95 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ILMN shares. TD Cowen lifted their target price on shares of Illumina from $166.00 to $177.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Daiwa America upgraded Illumina to a “strong-buy” rating in a research report on Friday, August 16th. Robert W. Baird increased their target price on Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Royal Bank of Canada lifted their price target on Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, UBS Group increased their price objective on shares of Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Illumina has an average rating of “Moderate Buy” and an average price target of $164.00.

Illumina Trading Down 0.1 %

NASDAQ ILMN opened at $144.15 on Monday. Illumina, Inc. has a 12 month low of $99.23 and a 12 month high of $156.66. The stock has a 50-day simple moving average of $141.88 and a 200 day simple moving average of $126.03. 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 company has a market capitalization of $22.86 billion, a PE ratio of -14.47 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. Illumina’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the company posted $0.33 EPS. Research analysts forecast that Illumina, Inc. will post 4.11 EPS for the current year.

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.