Ameriprise Financial Inc. Reduces Position in Illumina, Inc. (NASDAQ:ILMN)

Ameriprise Financial Inc. lessened its position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 29.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,340,004 shares of the life sciences company's stock after selling 565,725 shares during the quarter. Ameriprise Financial Inc. owned 0.84% of Illumina worth $179,065,000 at the end of the most recent reporting period.

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

Illumina Stock Up 4.6%

ILMN traded up $3.49 on Monday, hitting $79.25. The company had a trading volume of 1,108,866 shares, compared to its average volume of 2,282,926. The stock has a market capitalization of $12.54 billion, a price-to-earnings ratio of -10.34, a P/E/G ratio of 1.60 and a beta of 1.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. The stock has a fifty day moving average price of $78.94 and a 200-day moving average price of $113.12. Illumina, Inc. has a 12-month low of $68.70 and a 12-month high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) 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 firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. The company's quarterly revenue was down 1.4% compared to the same quarter last year. Analysts predict that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ILMN. Canaccord Genuity Group decreased their price objective on Illumina from $92.00 to $87.00 and set a "hold" rating on the stock in a report on Monday. Stephens restated an "overweight" rating and set a $156.00 target price on shares of Illumina in a research report on Tuesday, March 11th. Hsbc Global Res lowered Illumina from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 28th. Barclays dropped their target price on Illumina from $100.00 to $77.00 and set an "underweight" rating for the company in a report on Thursday, April 10th. Finally, Citigroup lowered their price target on Illumina from $90.00 to $85.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $132.75.

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.