OVERSEA CHINESE BANKING Corp Ltd Has $34.84 Million Holdings in Illumina, Inc. (NASDAQ:ILMN)

OVERSEA CHINESE BANKING Corp Ltd cut its holdings in Illumina, Inc. (NASDAQ:ILMN) by 12.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 267,120 shares of the life sciences company’s stock after selling 39,734 shares during the quarter. Illumina makes up approximately 1.0% of OVERSEA CHINESE BANKING Corp Ltd’s holdings, making the stock its 26th biggest holding. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Illumina were worth $34,835,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ILMN. Versant Capital Management Inc raised its position in Illumina by 292.9% in the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after purchasing an additional 246 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new position in Illumina in the second quarter valued at about $34,000. Massmutual Trust Co. FSB ADV raised its position in Illumina by 65.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after purchasing an additional 168 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Illumina in the second quarter valued at about $61,000. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of Illumina during the second quarter worth about $63,000. 89.42% of the stock is owned by institutional investors and hedge funds.

Illumina Stock Performance

NASDAQ:ILMN opened at $151.50 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.86 and a current ratio of 2.43. Illumina, Inc. has a 52-week low of $92.26 and a 52-week high of $156.66. The firm has a market cap of $24.03 billion, a price-to-earnings ratio of -15.21 and a beta of 1.13. The business’s fifty day moving average is $138.50 and its 200 day moving average is $123.77.

Illumina (NASDAQ:ILMN) last posted its earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the business earned $0.33 earnings per share. The firm’s revenue was down 3.5% on a year-over-year basis. Research analysts predict that Illumina, Inc. will post 4.11 EPS for the current year.

Wall Street Analysts Forecast Growth

ILMN has been the subject of a number of analyst reports. Leerink Partners raised their price objective on Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their target price on Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. UBS Group lifted their target price on Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Argus upgraded Illumina from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a report on Wednesday, August 28th. Finally, Daiwa Capital Markets raised Illumina from a “neutral” rating to a “buy” rating and raised their price objective for the company from $120.00 to $154.00 in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Illumina has a consensus rating of “Moderate Buy” and a consensus price target of $163.71.

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.