Moors & Cabot Inc. Purchases 95 Shares of Illumina, Inc. (NASDAQ:ILMN)

Moors & Cabot Inc. lifted its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,818 shares of the life sciences company’s stock after acquiring an additional 95 shares during the quarter. Moors & Cabot Inc.’s holdings in Illumina were worth $759,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in 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 boosted its position in shares of Illumina by 305.0% in the 2nd 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 during the last quarter. Marshall Wace LLP bought a new stake in Illumina in the second quarter valued at about $77,628,000. Swedbank AB acquired a new position in Illumina in the first quarter valued at about $99,682,000. Finally, Federated Hermes Inc. boosted its holdings in Illumina by 511.7% during the second quarter. Federated Hermes Inc. now owns 530,439 shares of the life sciences company’s stock worth $55,367,000 after buying an additional 443,720 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ILMN shares. Royal Bank of Canada increased their target price on shares of Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Piper Sandler reduced their target price on Illumina from $195.00 to $185.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Robert W. Baird increased their price target on Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. HSBC raised Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Thursday, October 17th. Finally, Canaccord Genuity Group boosted their price objective on Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Illumina presently has an average rating of “Moderate Buy” and a consensus target price of $164.00.

Illumina Price Performance

NASDAQ:ILMN opened at $140.14 on Friday. The company has a quick ratio of 1.85, a current ratio of 2.43 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 stock’s 50 day moving average price is $140.61 and its two-hundred day moving average price is $124.76. The firm has a market capitalization of $22.23 billion, a price-to-earnings ratio of -14.07 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 (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.26. The business 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 quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 EPS. On average, analysts anticipate that Illumina, Inc. will post 4.11 earnings per share for the current year.

Illumina 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.