Clear Harbor Asset Management LLC Decreases Holdings in Illumina, Inc. (NASDAQ:ILMN)

Clear Harbor Asset Management LLC reduced its stake in Illumina, Inc. (NASDAQ:ILMN) by 22.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 8,245 shares of the life sciences company’s stock after selling 2,426 shares during the period. Clear Harbor Asset Management LLC’s holdings in Illumina were worth $1,075,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of ILMN. Envestnet Portfolio Solutions Inc. grew its position in shares of Illumina by 426.0% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,460 shares of the life sciences company’s stock valued at $2,123,000 after purchasing an additional 12,521 shares in the last quarter. Findlay Park Partners LLP purchased a new stake in shares of Illumina in the first quarter worth about $100,120,000. Jupiter Asset Management Ltd. bought a new position in shares of Illumina in the first quarter valued at approximately $4,527,000. US Bancorp DE grew its stake in Illumina by 33.9% during the first quarter. US Bancorp DE now owns 31,600 shares of the life sciences company’s stock valued at $4,339,000 after acquiring an additional 8,001 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Illumina by 41.4% during the 1st quarter. BNP Paribas Financial Markets now owns 390,035 shares of the life sciences company’s stock worth $53,560,000 after acquiring an additional 114,263 shares during the period. 89.42% of the stock is owned by institutional investors.

Illumina Trading Up 0.4 %

Shares of ILMN stock opened at $141.95 on Monday. The stock’s 50-day moving average price is $134.53 and its 200-day moving average price is $121.57. Illumina, Inc. has a 12-month low of $89.00 and a 12-month high of $151.40. The stock has a market capitalization of $22.61 billion, a price-to-earnings ratio of -7.41 and a beta of 1.15. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04.

Illumina (NASDAQ:ILMN) last posted its earnings results on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, beating 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 period in the prior year, the company earned $0.32 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. Equities research analysts predict that Illumina, Inc. will post 3.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ILMN shares. Leerink Partners lifted their price objective on Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Argus raised Illumina from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Wednesday, August 28th. Stephens reaffirmed an “overweight” rating and issued a $170.00 target price on shares of Illumina in a research note on Wednesday, July 10th. StockNews.com assumed coverage on shares of Illumina in a research note on Thursday, August 29th. They issued a “buy” rating for the company. Finally, Daiwa Capital Markets upgraded shares of 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 report on Friday, August 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $154.33.

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.