Edgewood Management LLC Decreases Position in Illumina, Inc. (NASDAQ:ILMN)

Edgewood Management LLC trimmed its holdings in Illumina, Inc. (NASDAQ:ILMN) by 54.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,121 shares of the life sciences company’s stock after selling 19,221 shares during the quarter. Edgewood Management LLC’s holdings in Illumina were worth $2,102,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ILMN. Edgestream Partners L.P. purchased a new position in Illumina in the 1st quarter worth approximately $384,000. O Shaughnessy Asset Management LLC raised its position in shares of Illumina by 91.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,199 shares of the life sciences company’s stock valued at $577,000 after buying an additional 2,009 shares during the period. Bessemer Group Inc. raised its position in shares of Illumina by 81.0% during the 1st quarter. Bessemer Group Inc. now owns 8,587 shares of the life sciences company’s stock valued at $1,179,000 after buying an additional 3,842 shares during the period. Lake Street Advisors Group LLC purchased a new stake in shares of Illumina during the 1st quarter valued at approximately $297,000. Finally, Capital World Investors raised its position in shares of Illumina by 41.1% during the 1st quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company’s stock valued at $378,111,000 after buying an additional 801,814 shares during the period. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Trading Up 4.1 %

Shares of Illumina 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 quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. The company’s 50-day simple moving average is $140.39 and its 200-day simple moving average is $124.61. The firm has a market cap of $21.74 billion, a price-to-earnings ratio of -13.76 and a beta of 1.13.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business 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 posted $0.33 earnings per share. The business’s revenue was down 3.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Illumina, Inc. will post 4.11 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on ILMN shares. Piper Sandler reduced their price target on shares of Illumina from $195.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. TD Cowen lifted their target price on shares of Illumina from $166.00 to $177.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Leerink Partners lifted their target price on shares of Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Daiwa Capital Markets upgraded shares of Illumina from a “neutral” rating to a “buy” rating and lifted their target price for the company from $120.00 to $154.00 in a report on Friday, August 16th. Finally, Robert W. Baird lifted their target price on shares of Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.00.

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.