Meiji Yasuda Asset Management Co Ltd. Raises Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Meiji Yasuda Asset Management Co Ltd. grew its stake in Illumina, Inc. (NASDAQ:ILMN) by 130.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,087 shares of the life sciences company’s stock after buying an additional 4,013 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Illumina were worth $740,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ILMN. Vanguard Group Inc. increased its position in Illumina by 0.4% during the first quarter. Vanguard Group Inc. now owns 18,245,041 shares of the life sciences company’s stock worth $2,505,409,000 after buying an additional 66,528 shares during the period. Edgewood Management LLC boosted its stake in shares of Illumina by 4.6% during the fourth quarter. Edgewood Management LLC now owns 6,878,495 shares of the life sciences company’s stock worth $957,762,000 after buying an additional 302,222 shares during the period. Baillie Gifford & Co. grew its holdings in shares of Illumina by 8.7% during the first quarter. Baillie Gifford & Co. now owns 5,736,418 shares of the life sciences company’s stock worth $787,725,000 after buying an additional 460,649 shares during the last quarter. WCM Investment Management LLC increased its position in Illumina by 2,232.3% in the 1st quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock valued at $463,760,000 after acquiring an additional 3,232,418 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Illumina by 7.2% during the 2nd 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 acquiring an additional 204,043 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Illumina Stock Performance

NASDAQ:ILMN opened at $131.20 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 1.04. The company has a market cap of $20.90 billion, a P/E ratio of -16.10 and a beta of 1.15. Illumina, Inc. has a fifty-two week low of $89.00 and a fifty-two week high of $148.19. The firm’s 50 day moving average is $125.25 and its two-hundred day moving average is $120.67.

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

Analyst Upgrades and Downgrades

ILMN has been the subject of a number of analyst reports. Stephens restated an “overweight” rating and set a $170.00 price objective on shares of Illumina in a research report on Wednesday, July 10th. Royal Bank of Canada restated an “outperform” rating and issued a $242.00 price objective on shares of Illumina in a research report on Wednesday, August 14th. Robert W. Baird boosted their target price on Illumina from $119.00 to $124.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price objective on Illumina from $130.00 to $125.00 and set a “neutral” rating for the company in a research 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 target on the stock in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $151.05.

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.