Massachusetts Financial Services Co. MA Makes New Investment in Illumina, Inc. (NASDAQ:ILMN)

Massachusetts Financial Services Co. MA acquired a new stake in shares of Illumina, Inc. (NASDAQ:ILMN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 424,878 shares of the life sciences company’s stock, valued at approximately $44,349,000. Massachusetts Financial Services Co. MA owned approximately 0.27% of Illumina as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Illumina by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 18,245,041 shares of the life sciences company’s stock valued at $2,505,409,000 after buying an additional 66,528 shares in the last quarter. Edgewood Management LLC grew its holdings in shares of Illumina by 4.6% in the fourth quarter. Edgewood Management LLC now owns 6,878,495 shares of the life sciences company’s stock valued at $957,762,000 after purchasing an additional 302,222 shares in the last quarter. Baillie Gifford & Co. increased its position in Illumina by 8.7% in the first quarter. Baillie Gifford & Co. now owns 5,736,418 shares of the life sciences company’s stock worth $787,725,000 after purchasing an additional 460,649 shares during the last quarter. WCM Investment Management LLC raised its stake in Illumina by 2,232.3% during the first quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock valued at $463,760,000 after purchasing an additional 3,232,418 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in 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 valued at $317,267,000 after purchasing an additional 204,043 shares during the last quarter. 89.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ILMN shares. Daiwa Capital Markets upgraded shares of Illumina from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $120.00 to $154.00 in a report on Friday, August 16th. Stephens restated an “overweight” rating and set a $170.00 price objective on shares of Illumina in a research report on Wednesday, July 10th. Argus upgraded Illumina from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a report on Wednesday, August 28th. Citigroup increased their price target on Illumina from $140.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Barclays raised shares of Illumina from an “underweight” rating to an “equal weight” rating and set a $125.00 price objective for the company in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $151.05.

Illumina Trading Up 2.6 %

NASDAQ ILMN opened at $134.39 on Friday. Illumina, Inc. has a one year low of $89.00 and a one year high of $148.19. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11. The company has a market capitalization of $21.41 billion, a price-to-earnings ratio of -16.49 and a beta of 1.15. The company’s 50-day simple moving average is $124.94 and its two-hundred day simple moving average is $120.71.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.24. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. Illumina’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 earnings per share. Equities analysts forecast that Illumina, Inc. will post 3.62 EPS for the current fiscal 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.