Clearline Capital LP Buys New Stake in Illumina, Inc. (NASDAQ:ILMN)

Clearline Capital LP purchased a new position in shares of Illumina, Inc. (NASDAQ:ILMN) in the second quarter, HoldingsChannel reports. The institutional investor purchased 11,290 shares of the life sciences company’s stock, valued at approximately $1,178,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Bouvel Investment Partners LLC lifted its position in shares of Illumina by 1.3% during the 1st quarter. Bouvel Investment Partners LLC now owns 6,547 shares of the life sciences company’s stock worth $899,000 after buying an additional 84 shares during the period. UMB Bank n.a. boosted its stake in shares of Illumina by 7.0% in the 2nd quarter. UMB Bank n.a. now owns 1,341 shares of the life sciences company’s stock valued at $140,000 after purchasing an additional 88 shares in the last quarter. Gulf International Bank UK Ltd grew its holdings in shares of Illumina by 0.7% in the 1st quarter. Gulf International Bank UK Ltd now owns 13,562 shares of the life sciences company’s stock worth $1,862,000 after purchasing an additional 98 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Illumina by 4.9% during the 1st quarter. GAMMA Investing LLC now owns 2,258 shares of the life sciences company’s stock worth $310,000 after purchasing an additional 105 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its position in shares of Illumina by 0.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 32,818 shares of the life sciences company’s stock worth $4,507,000 after purchasing an additional 114 shares in the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.

Illumina Stock Down 1.6 %

NASDAQ:ILMN opened at $130.12 on Friday. The stock has a 50-day simple moving average of $126.36 and a 200 day simple moving average of $120.35. Illumina, Inc. has a 52-week low of $89.00 and a 52-week high of $148.19. The company has a market cap of $20.73 billion, a PE ratio of -15.97 and a beta of 1.15. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.24. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm posted $0.32 EPS. The business’s revenue was down 5.4% on a year-over-year basis. On average, sell-side analysts expect that Illumina, Inc. will post 3.63 EPS for the current fiscal year.

Analyst Ratings Changes

ILMN has been the topic of several research analyst reports. Scotiabank decreased their price objective on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 15th. Daiwa America upgraded Illumina to a “strong-buy” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. cut their price objective on Illumina from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Daiwa Capital Markets upgraded Illumina from a “neutral” rating to a “buy” rating and increased their target price for the stock from $120.00 to $154.00 in a report on Friday, August 16th. Finally, TD Cowen raised Illumina from a “hold” rating to a “buy” rating and lifted their price target for the company from $126.00 to $144.00 in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $152.95.

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.