Pathstone Holdings LLC Has $3.25 Million Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Pathstone Holdings LLC cut its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 16.7% in the third quarter, Holdings Channel reports. The firm owned 24,932 shares of the life sciences company’s stock after selling 5,000 shares during the quarter. Pathstone Holdings LLC’s holdings in Illumina were worth $3,251,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Primecap Management Co. CA boosted its holdings 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 during the last quarter. Millennium Management LLC raised its position in shares of Illumina by 305.0% in the 2nd quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock valued at $155,067,000 after acquiring an additional 1,118,747 shares during the period. Marshall Wace LLP bought a new position in Illumina during the 2nd quarter worth approximately $77,628,000. Swedbank AB acquired a new position in Illumina during the first quarter valued at approximately $99,682,000. Finally, Federated Hermes Inc. increased its stake in Illumina by 511.7% in the second quarter. Federated Hermes Inc. now owns 530,439 shares of the life sciences company’s stock valued at $55,367,000 after purchasing an additional 443,720 shares in the last quarter. Institutional investors own 89.42% of the company’s stock.

Illumina Price Performance

Shares of ILMN opened at $140.14 on Monday. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. The company’s fifty day simple moving average is $140.61 and its 200 day simple moving average is $124.94. Illumina, Inc. has a 1-year low of $93.51 and a 1-year high of $156.66. The company has a market cap of $22.23 billion, a price-to-earnings ratio of -14.07 and a beta of 1.13.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business earned $0.33 EPS. Illumina’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, research analysts forecast that Illumina, Inc. will post 4.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ILMN shares. UBS Group lifted their price target on shares of Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Scotiabank reduced their target price on Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 15th. HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a report on Thursday, October 17th. Royal Bank of Canada lifted their price objective on Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, TD Cowen boosted their price objective on Illumina from $166.00 to $177.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.00.

About Illumina

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.