Illumina, Inc. (NASDAQ:ILMN) Shares Bought by Westpac Banking Corp

Key Points

• Westpac Banking Corp increased its holdings in Illumina, Inc. by 278.8%, acquiring an additional 9,362 shares during the first quarter, raising its total to 12,720 shares valued at approximately $1,009,000.
• Several institutional investors modified their positions in Illumina, resulting in a significant institutional ownership of 89.42% for the stock.
• Illumina recently reported a quarterly earnings of $1.19 EPS, which exceeded expectations, though revenue fell 4.8% year-over-year to $1.06 billion.

Westpac Banking Corp lifted its position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 278.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,720 shares of the life sciences company's stock after buying an additional 9,362 shares during the quarter. Westpac Banking Corp's holdings in Illumina were worth $1,009,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ILMN. Capital World Investors grew its holdings in shares of Illumina by 408.6% during the fourth quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company's stock worth $2,408,721,000 after buying an additional 14,481,232 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of Illumina by 54,220.9% during the fourth quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company's stock worth $255,586,000 after buying an additional 1,909,118 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Illumina by 2,057.5% in the first quarter. Assenagon Asset Management S.A. now owns 922,281 shares of the life sciences company's stock valued at $73,174,000 after purchasing an additional 879,533 shares during the period. Vanguard Group Inc. grew its holdings in Illumina by 3.5% in the first quarter. Vanguard Group Inc. now owns 16,371,662 shares of the life sciences company's stock valued at $1,298,928,000 after purchasing an additional 558,243 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in Illumina by 2,292.9% in the first quarter. Pacer Advisors Inc. now owns 565,680 shares of the life sciences company's stock valued at $44,881,000 after purchasing an additional 542,040 shares during the period. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Daiwa Capital Markets downgraded shares of Illumina from an "outperform" rating to a "neutral" rating and set a $94.00 target price for the company. in a report on Tuesday, August 12th. Daiwa America downgraded shares of Illumina from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 12th. Morgan Stanley boosted their target price on shares of Illumina from $100.00 to $105.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. JPMorgan Chase & Co. lowered their target price on shares of Illumina from $120.00 to $85.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Finally, Wall Street Zen downgraded shares of Illumina from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Illumina presently has a consensus rating of "Hold" and an average price target of $124.58.

Illumina Stock Up 0.0%

ILMN traded up $0.02 during trading on Friday, hitting $100.11. The company had a trading volume of 1,534,729 shares, compared to its average volume of 2,192,190. The company has a market cap of $15.39 billion, a PE ratio of 12.67, a P/E/G ratio of 2.25 and a beta of 1.37. The business has a 50-day moving average of $96.81 and a 200-day moving average of $89.86. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.81 and a quick ratio of 1.41. Illumina, Inc. has a 1-year low of $68.70 and a 1-year high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The life sciences company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.17. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.12 billion. Illumina had a net margin of 29.36% and a return on equity of 28.93%. The firm's quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 earnings per share. As a group, analysts forecast that Illumina, Inc. will post 4.51 earnings per share for the current 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.