Crawford Lake Capital Management LLC Invests $4.31 Million in Illumina, Inc. (ILMN)

Crawford Lake Capital Management LLC bought a new position in shares of Illumina, Inc. (NASDAQ:ILMN) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 21,645 shares of the life sciences company’s stock, valued at approximately $4,312,000. Illumina accounts for approximately 1.5% of Crawford Lake Capital Management LLC’s holdings, making the stock its 25th biggest position.

Several other hedge funds have also made changes to their positions in the company. Flagship Harbor Advisors LLC raised its stake in shares of Illumina by 1.7% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 2,046 shares of the life sciences company’s stock worth $345,000 after buying an additional 35 shares during the period. Nordea Investment Management AB raised its stake in shares of Illumina by 0.6% during the 2nd quarter. Nordea Investment Management AB now owns 6,798 shares of the life sciences company’s stock worth $1,180,000 after buying an additional 42 shares during the period. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Illumina by 1.4% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,126 shares of the life sciences company’s stock worth $528,000 after buying an additional 43 shares during the period. Paradigm Asset Management Co. LLC raised its stake in shares of Illumina by 5.6% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 950 shares of the life sciences company’s stock worth $165,000 after buying an additional 50 shares during the period. Finally, Pitcairn Co. raised its stake in shares of Illumina by 1.5% during the 2nd quarter. Pitcairn Co. now owns 3,644 shares of the life sciences company’s stock worth $632,000 after buying an additional 53 shares during the period. 91.75% of the stock is owned by institutional investors and hedge funds.

ILMN has been the subject of several recent research reports. Barclays increased their price objective on Illumina from $150.00 to $185.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 25th. Zacks Investment Research raised Illumina from a “hold” rating to a “buy” rating and set a $229.00 price objective for the company in a research note on Friday, October 27th. Canaccord Genuity reissued a “buy” rating and issued a $230.00 price objective (up from $215.00) on shares of Illumina in a research note on Thursday, October 12th. Piper Jaffray Companies reissued an “overweight” rating and issued a $226.00 price objective (up from $202.00) on shares of Illumina in a research note on Monday, October 9th. Finally, Janney Montgomery Scott raised Illumina from a “sell” rating to a “neutral” rating in a research note on Monday, October 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $201.98.

Shares of Illumina, Inc. (NASDAQ:ILMN) opened at $211.06 on Wednesday. The company has a quick ratio of 3.73, a current ratio of 4.22 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $31,163.70, a price-to-earnings ratio of 62.41, a price-to-earnings-growth ratio of 3.53 and a beta of 0.79. Illumina, Inc. has a twelve month low of $119.37 and a twelve month high of $230.72.

Illumina (NASDAQ:ILMN) last issued its earnings results on Tuesday, October 24th. The life sciences company reported $1.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.12. The company had revenue of $714.00 million during the quarter, compared to analysts’ expectations of $692.77 million. Illumina had a return on equity of 19.42% and a net margin of 30.34%. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 EPS. equities research analysts anticipate that Illumina, Inc. will post 3.75 earnings per share for the current year.

In other news, SVP Mostafa Ronaghi sold 20,000 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $210.00, for a total transaction of $4,200,000.00. Following the completion of the transaction, the senior vice president now directly owns 86,725 shares in the company, valued at approximately $18,212,250. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Oene Mark Van sold 9,729 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $211.33, for a total value of $2,056,029.57. Following the transaction, the senior vice president now owns 24,908 shares of the company’s stock, valued at $5,263,807.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 164,005 shares of company stock valued at $34,243,898. 0.89% of the stock is owned by company insiders.

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About Illumina

Illumina, Inc (Illumina) is a provider of sequencing- and array-based solutions for genetic analysis. The Company operates through two segments: Core Illumina and the consolidated variable interest entities (VIEs), which include the activities of GRAIL, Inc (GRAIL) and Helix Holdings I, LLC (Helix). Core Illumina consists of its core operations.

Institutional Ownership by Quarter for Illumina (NASDAQ:ILMN)

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