Letko Brosseau & Associates Inc. Sells 1,932 Shares of Illumina, Inc. (NASDAQ:ILMN)

Letko Brosseau & Associates Inc. trimmed its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 0.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 685,773 shares of the life sciences company’s stock after selling 1,932 shares during the quarter. Illumina comprises about 1.8% of Letko Brosseau & Associates Inc.’s holdings, making the stock its 19th biggest holding. Letko Brosseau & Associates Inc.’s holdings in Illumina were worth $91,640,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Bleakley Financial Group LLC bought a new stake in Illumina during the fourth quarter valued at about $751,000. Van ECK Associates Corp boosted its position in shares of Illumina by 17.5% during the fourth quarter. Van ECK Associates Corp now owns 152,265 shares of the life sciences company’s stock worth $20,347,000 after acquiring an additional 22,718 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in Illumina in the 4th quarter valued at $1,464,000. Allworth Financial LP lifted its stake in Illumina by 720.7% in the 4th quarter. Allworth Financial LP now owns 7,132 shares of the life sciences company’s stock worth $1,001,000 after purchasing an additional 6,263 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Illumina during the 4th quarter valued at about $448,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Robert W. Baird decreased their target price on Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Royal Bank of Canada decreased their price objective on Illumina from $128.00 to $112.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. reduced their price target on shares of Illumina from $120.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday. Barclays lowered their price objective on shares of Illumina from $100.00 to $77.00 and set an “underweight” rating for the company in a research report on Thursday, April 10th. Finally, Guggenheim reduced their target price on shares of Illumina from $122.00 to $114.00 and set a “buy” rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.00.

Illumina Stock Performance

NASDAQ ILMN opened at $75.76 on Monday. The stock’s 50 day simple moving average is $78.94 and its 200-day simple moving average is $113.12. Illumina, Inc. has a 1-year low of $68.70 and a 1-year high of $156.66. 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 company has a market cap of $11.99 billion, a PE ratio of -9.86, a price-to-earnings-growth ratio of 1.60 and a beta of 1.35.

Illumina (NASDAQ:ILMN) last released its earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company posted $0.98 EPS. The business’s revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts anticipate that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

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.