Zurcher Kantonalbank Zurich Cantonalbank Buys 113,345 Shares of Illumina, Inc. (NASDAQ:ILMN)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 148.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,924 shares of the life sciences company’s stock after purchasing an additional 113,345 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Illumina were worth $25,380,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Janney Montgomery Scott LLC lifted its stake in shares of Illumina by 73.3% in the third quarter. Janney Montgomery Scott LLC now owns 6,580 shares of the life sciences company’s stock valued at $858,000 after buying an additional 2,783 shares during the period. Concurrent Investment Advisors LLC bought a new stake in shares of Illumina in the 3rd quarter worth approximately $209,000. Atria Investments Inc lifted its position in shares of Illumina by 1.9% in the 3rd quarter. Atria Investments Inc now owns 19,517 shares of the life sciences company’s stock worth $2,545,000 after acquiring an additional 364 shares during the period. Crossmark Global Holdings Inc. increased its position in shares of Illumina by 19.0% during the third quarter. Crossmark Global Holdings Inc. now owns 10,693 shares of the life sciences company’s stock valued at $1,395,000 after purchasing an additional 1,709 shares during the period. Finally, Los Angeles Capital Management LLC increased its position in shares of Illumina by 1,062.8% during the third quarter. Los Angeles Capital Management LLC now owns 93,917 shares of the life sciences company’s stock valued at $12,248,000 after purchasing an additional 85,840 shares during the period. 89.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Canaccord Genuity Group reduced their target price on Illumina from $135.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday. Morgan Stanley decreased their target price on shares of Illumina from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Piper Sandler upped their target price on shares of Illumina from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Guggenheim cut their price target on shares of Illumina from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Finally, Robert W. Baird lowered their price objective on Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $146.85.

Illumina Stock Down 1.7 %

Shares of NASDAQ:ILMN opened at $84.52 on Wednesday. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. The firm has a market cap of $13.39 billion, a P/E ratio of -11.01, a P/E/G ratio of 1.60 and a beta of 1.17. Illumina, Inc. has a 12 month low of $80.18 and a 12 month high of $156.66. The company’s 50-day moving average price is $116.45 and its two-hundred day moving average price is $130.84.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. As a group, research analysts forecast that Illumina, Inc. will post 4.51 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.