Cigna Investments Inc. New Makes New $219,000 Investment in Illumina, Inc. (NASDAQ:ILMN)

Cigna Investments Inc. New acquired a new position in Illumina, Inc. (NASDAQ:ILMN) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,683 shares of the life sciences company’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Industrial Alliance Investment Management Inc. purchased a new stake in Illumina in the second quarter worth about $34,000. Versant Capital Management Inc grew its holdings in shares of Illumina by 292.9% during the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after buying an additional 246 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Illumina by 65.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after buying an additional 168 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Illumina during the third quarter valued at approximately $65,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Illumina during the second quarter valued at approximately $61,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Illumina in a report on Thursday, August 29th. They set a “buy” rating on the stock. Daiwa America upgraded shares of Illumina to a “strong-buy” rating in a report on Friday, August 16th. HSBC upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Thursday, October 17th. JPMorgan Chase & Co. cut their price target on shares of Illumina from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, Scotiabank cut their price target on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $154.33.

Illumina Price Performance

NASDAQ ILMN opened at $149.76 on Friday. Illumina, Inc. has a 12 month low of $89.00 and a 12 month high of $151.40. The stock has a market cap of $23.86 billion, a price-to-earnings ratio of -7.82 and a beta of 1.15. The company’s 50 day moving average is $135.93 and its two-hundred day moving average is $122.33. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04.

Illumina (NASDAQ:ILMN) last released its earnings results 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. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the business earned $0.32 EPS. The firm’s revenue was down 5.4% compared to the same quarter last year. As a group, research analysts anticipate that Illumina, Inc. will post 3.63 earnings per share for the current year.

About Illumina

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.