M&T Bank Corp Purchases 1,769 Shares of Illumina, Inc. (NASDAQ:ILMN)

M&T Bank Corp grew its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 3.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,378 shares of the life sciences company’s stock after buying an additional 1,769 shares during the period. M&T Bank Corp’s holdings in Illumina were worth $7,091,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Primecap Management Co. CA grew its position in Illumina by 462.5% during the second quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock worth $253,514,000 after buying an additional 1,997,010 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Illumina by 305.0% during 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 in the last quarter. Marshall Wace LLP bought a new position in shares of Illumina in the second quarter worth $77,628,000. Massachusetts Financial Services Co. MA lifted its position in Illumina by 148.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,056,172 shares of the life sciences company’s stock worth $137,735,000 after purchasing an additional 631,294 shares during the period. Finally, Janus Henderson Group PLC grew its stake in Illumina by 40.5% during the third quarter. Janus Henderson Group PLC now owns 2,168,057 shares of the life sciences company’s stock worth $282,735,000 after buying an additional 625,245 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Trading Down 0.6 %

NASDAQ:ILMN opened at $147.64 on Thursday. Illumina, Inc. has a 52 week low of $100.08 and a 52 week high of $156.66. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. The firm’s fifty day moving average is $143.85 and its 200-day moving average is $127.75. The firm has a market cap of $23.42 billion, a P/E ratio of -14.82 and a beta of 1.11.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the firm posted $0.33 earnings per share. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. Equities analysts expect that Illumina, Inc. will post 4.11 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Argus upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Wednesday, August 28th. Citigroup lowered Illumina from a “buy” rating to a “neutral” rating and decreased their price target for the company from $190.00 to $165.00 in a research note on Wednesday. Royal Bank of Canada upped their price objective on Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group lifted their target price on Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Finally, HSBC raised Illumina from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $162.86.

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.