Coldstream Capital Management Inc. Lowers Stake in Illumina, Inc. (NASDAQ:ILMN)

Coldstream Capital Management Inc. trimmed its holdings in Illumina, Inc. (NASDAQ:ILMN) by 27.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 3,229 shares of the life sciences company’s stock after selling 1,216 shares during the period. Coldstream Capital Management Inc.’s holdings in Illumina were worth $425,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Primecap Management Co. CA raised its stake in Illumina by 462.5% during the 2nd quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock valued at $253,514,000 after acquiring an additional 1,997,010 shares during the last quarter. Millennium Management LLC raised its stake in shares of Illumina by 305.0% during the second quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock worth $155,067,000 after purchasing an additional 1,118,747 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Illumina during the second quarter worth $77,628,000. Massachusetts Financial Services Co. MA grew its position in Illumina by 148.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,056,172 shares of the life sciences company’s stock valued at $137,735,000 after buying an additional 631,294 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Illumina by 40.5% in the 3rd quarter. Janus Henderson Group PLC now owns 2,168,057 shares of the life sciences company’s stock valued at $282,735,000 after buying an additional 625,245 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Stock Performance

NASDAQ ILMN opened at $143.87 on Friday. The business has a fifty day moving average of $144.27 and a 200-day moving average of $128.44. Illumina, Inc. has a fifty-two week low of $100.08 and a fifty-two week high of $156.66. The stock has a market cap of $22.82 billion, a price-to-earnings ratio of -14.44 and a beta of 1.11. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.26. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm posted $0.33 EPS. Illumina’s revenue was down 3.5% on a year-over-year basis. As a group, analysts predict that Illumina, Inc. will post 4.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ILMN shares. JPMorgan Chase & Co. lifted their target price on shares of Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Morgan Stanley reiterated an “equal weight” rating and set a $156.00 target price on shares of Illumina in a research report on Tuesday, November 12th. HSBC raised 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. Robert W. Baird increased their price objective on Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Finally, Canaccord Genuity Group upped their price target on shares of Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $165.95.

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.