Edgewood Management LLC Cuts Stake in Illumina, Inc. (NASDAQ:ILMN)

Edgewood Management LLC cut its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 2.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 15,721 shares of the life sciences company’s stock after selling 400 shares during the period. Edgewood Management LLC’s holdings in Illumina were worth $2,101,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. WCM Investment Management LLC raised its position in Illumina by 26.6% in the 4th quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company’s stock valued at $551,625,000 after purchasing an additional 867,673 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Illumina by 0.8% in the fourth quarter. Bank of New York Mellon Corp now owns 3,402,057 shares of the life sciences company’s stock valued at $454,617,000 after buying an additional 27,618 shares during the last quarter. Geode Capital Management LLC increased its holdings in Illumina by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,727,827 shares of the life sciences company’s stock valued at $354,933,000 after buying an additional 48,018 shares during the last quarter. Norges Bank purchased a new stake in Illumina during the 4th quarter worth about $228,714,000. Finally, Pictet Asset Management Holding SA boosted its position in shares of Illumina by 245.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,182,454 shares of the life sciences company’s stock worth $158,011,000 after acquiring an additional 840,423 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Analysts Set New Price Targets

ILMN has been the topic of several research analyst reports. TD Cowen lowered Illumina from a “buy” rating to a “hold” rating and cut their target price for the stock from $177.00 to $140.00 in a research report on Friday, February 7th. Hsbc Global Res downgraded shares of Illumina from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Royal Bank of Canada lowered their target price on shares of Illumina from $247.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. Barclays reiterated an “underweight” rating on shares of Illumina in a research note on Tuesday, March 11th. Finally, Canaccord Genuity Group decreased their price objective on shares of Illumina from $135.00 to $115.00 and set a “hold” rating for the company in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $140.90.

Illumina Price Performance

Illumina stock opened at $74.16 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42. The business has a 50 day simple moving average of $96.82 and a 200-day simple moving average of $125.06. Illumina, Inc. has a 12 month low of $70.64 and a 12 month high of $156.66. The stock has a market capitalization of $11.75 billion, a PE ratio of -9.66, a price-to-earnings-growth ratio of 1.60 and a beta of 1.38.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. Equities analysts predict 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.