Illumina, Inc. (NASDAQ:ILMN) Stock Position Decreased by Wells Fargo & Company MN

Wells Fargo & Company MN decreased its position in Illumina, Inc. (NASDAQ:ILMN) by 19.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 133,456 shares of the life sciences company’s stock after selling 32,827 shares during the quarter. Wells Fargo & Company MN owned about 0.08% of Illumina worth $17,834,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings in Illumina by 153.7% during the fourth quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock valued at $32,000 after buying an additional 146 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of Illumina in the 4th quarter valued at approximately $32,000. Assetmark Inc. lifted its holdings in 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 last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Illumina during the fourth quarter worth approximately $45,000. Finally, Lee Danner & Bass Inc. acquired a new position in Illumina during the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group reduced their price objective on shares of Illumina from $135.00 to $115.00 and set a “hold” rating for the company in a research note on Tuesday, March 11th. Stephens reissued an “overweight” rating and set a $156.00 target price on shares of Illumina in a research report on Tuesday, March 11th. Robert W. Baird lowered their price target on Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. HSBC cut Illumina from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research report on Friday, February 28th. Finally, Royal Bank of Canada lowered their target price on Illumina from $128.00 to $112.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $138.70.

Illumina Stock Up 4.9 %

Shares of ILMN opened at $74.78 on Monday. Illumina, Inc. has a 12 month low of $68.70 and a 12 month high of $156.66. The stock has a market cap of $11.85 billion, a price-to-earnings ratio of -9.74, a P/E/G ratio of 1.60 and a beta of 1.38. The company has a 50-day moving average price of $88.58 and a two-hundred day moving average price of $122.25. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. Equities analysts predict 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.