Illumina, Inc. (NASDAQ:ILMN) Shares Sold by Edgewood Management LLC

Edgewood Management LLC cut its holdings in Illumina, Inc. (NASDAQ:ILMN) by 54.4% during the 3rd quarter, Holdings Channel reports. The firm owned 16,121 shares of the life sciences company’s stock after selling 19,221 shares during the period. Edgewood Management LLC’s holdings in Illumina were worth $2,102,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Industrial Alliance Investment Management Inc. purchased a new position in shares of Illumina during the second quarter valued at approximately $34,000. Versant Capital Management Inc lifted its stake in shares of Illumina by 292.9% during the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after buying an additional 246 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in shares of Illumina by 65.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after buying an additional 168 shares during the period. Focused Wealth Management Inc purchased a new position in shares of Illumina during the third quarter valued at approximately $63,000. Finally, Hollencrest Capital Management purchased a new position in shares of Illumina during the third quarter valued at approximately $63,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $156.00 price target on shares of Illumina in a research note on Tuesday, November 12th. Citigroup raised their target price on shares of Illumina from $155.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Royal Bank of Canada raised their target price on shares of Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. StockNews.com assumed coverage on shares of Illumina in a research note on Thursday, August 29th. They issued a “buy” rating on the stock. Finally, Argus raised shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Illumina presently has an average rating of “Moderate Buy” and a consensus target price of $164.00.

Illumina Stock Up 4.1 %

ILMN stock opened at $137.09 on Friday. Illumina, Inc. has a 52 week low of $93.51 and a 52 week high of $156.66. The company has a market capitalization of $21.74 billion, a price-to-earnings ratio of -13.76 and a beta of 1.13. The firm’s 50-day moving average is $140.39 and its two-hundred day moving average is $124.61. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.26. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS. On average, analysts forecast that Illumina, Inc. will post 4.11 earnings per share for the current fiscal 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.