NEOS Investment Management LLC Trims Stake in Illumina, Inc. (NASDAQ:ILMN)

NEOS Investment Management LLC trimmed its position in Illumina, Inc. (NASDAQ:ILMN) by 35.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,239 shares of the life sciences company’s stock after selling 7,822 shares during the quarter. NEOS Investment Management LLC’s holdings in Illumina were worth $1,903,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc lifted its stake in Illumina by 153.7% in the fourth quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock worth $32,000 after acquiring an additional 146 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of Illumina in the 4th quarter valued at about $32,000. Assetmark Inc. lifted its position in shares of Illumina by 954.8% in the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock worth $44,000 after purchasing an additional 296 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Illumina during the fourth quarter valued at approximately $45,000. Finally, Lee Danner & Bass Inc. bought a new position in Illumina in the fourth quarter worth approximately $48,000. Institutional investors own 89.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ILMN shares. Hsbc Global Res downgraded Illumina from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Piper Sandler lifted their target price on Illumina from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Stephens reissued an “overweight” rating and set a $156.00 price target on shares of Illumina in a research report on Tuesday, March 11th. HSBC downgraded shares of Illumina from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research report on Friday, February 28th. Finally, TD Cowen cut shares of Illumina from a “buy” rating to a “hold” rating and decreased their target price for the company from $177.00 to $140.00 in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Illumina currently has an average rating of “Moderate Buy” and an average target price of $140.90.

Illumina Stock Performance

ILMN opened at $80.00 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. Illumina, Inc. has a 12-month low of $79.30 and a 12-month high of $156.66. The firm has a 50 day moving average of $102.80 and a two-hundred day moving average of $126.79. The firm has a market capitalization of $12.67 billion, a PE ratio of -10.42, a P/E/G ratio of 1.60 and a beta of 1.17.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. On average, analysts anticipate that Illumina, Inc. will post 4.51 EPS for the current 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.