Connor Clark & Lunn Investment Management Ltd. Buys 114,466 Shares of Illumina, Inc. (NASDAQ:ILMN)

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 1,073.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 125,126 shares of the life sciences company’s stock after purchasing an additional 114,466 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.08% of Illumina worth $16,318,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. 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 increased its holdings in Illumina by 305.0% in the second quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock worth $155,067,000 after purchasing an additional 1,118,747 shares in the last quarter. Capital World Investors increased its holdings in Illumina by 41.1% in the first quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company’s stock worth $378,111,000 after purchasing an additional 801,814 shares in the last quarter. Marshall Wace LLP acquired a new position in Illumina in the second quarter valued at approximately $77,628,000. Finally, Swedbank AB bought a new position in shares of Illumina during the 1st quarter worth approximately $99,682,000. 89.42% of the stock is owned by institutional investors.

Illumina Trading Down 2.5 %

Illumina stock opened at $131.68 on Thursday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. Illumina, Inc. has a fifty-two week low of $93.51 and a fifty-two week high of $156.66. The stock has a market cap of $20.88 billion, a P/E ratio of -13.22 and a beta of 1.13. The firm’s fifty day moving average price is $140.18 and its 200-day moving average price is $124.52.

Illumina (NASDAQ:ILMN) last issued its quarterly 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. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter last year, the company posted $0.33 EPS. Equities research analysts forecast that Illumina, Inc. will post 4.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ILMN. UBS Group boosted their target price on shares of Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. TD Cowen increased their price objective on shares of Illumina from $166.00 to $177.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Scotiabank decreased their target price on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 15th. Stephens increased their price target on Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Finally, HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.00.

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.