Jennison Associates LLC Has $37.57 Million Stock Holdings in Illumina, Inc. (NASDAQ:ILMN)

Jennison Associates LLC raised its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 45.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288,062 shares of the life sciences company’s stock after purchasing an additional 89,663 shares during the period. Jennison Associates LLC’s holdings in Illumina were worth $37,566,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Versant Capital Management Inc raised its holdings in shares of Illumina by 292.9% during the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after buying an additional 246 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new position in Illumina during the second quarter worth about $34,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Illumina by 65.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock worth $56,000 after acquiring an additional 168 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Illumina in the 2nd quarter valued at approximately $61,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in shares of Illumina during the 2nd quarter valued at approximately $63,000. 89.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on ILMN. Piper Sandler cut their target price on shares of Illumina from $195.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Robert W. Baird upped their target price on Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Daiwa America raised Illumina to a “strong-buy” rating in a research note on Friday, August 16th. Scotiabank lowered their price objective on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 15th. Finally, TD Cowen lifted their target price 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. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $164.00.

Illumina Stock Performance

Shares of Illumina stock opened at $137.09 on Friday. The business has a 50-day simple moving average of $140.39 and a 200 day simple moving average of $124.61. The firm has a market capitalization of $21.74 billion, a price-to-earnings ratio of -13.76 and a beta of 1.13. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. Illumina, Inc. has a one year low of $93.51 and a one year high of $156.66.

Illumina (NASDAQ:ILMN) last issued its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the firm earned $0.33 earnings per share. Illumina’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, research analysts anticipate that Illumina, Inc. will post 4.11 earnings per share for the current fiscal 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.