Illumina, Inc. (NASDAQ:ILMN) Holdings Cut by Concentric Capital Strategies LP

Concentric Capital Strategies LP lessened its stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 40.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,442 shares of the life sciences company's stock after selling 41,076 shares during the period. Concentric Capital Strategies LP's holdings in Illumina were worth $8,210,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors raised its stake in shares of Illumina by 408.6% in the 4th quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company's stock valued at $2,408,721,000 after purchasing an additional 14,481,232 shares in the last quarter. WCM Investment Management LLC raised its stake in Illumina by 26.6% during the fourth quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company's stock valued at $551,625,000 after buying an additional 867,673 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Illumina by 0.8% during the 4th quarter. Bank of New York Mellon Corp now owns 3,402,057 shares of the life sciences company's stock worth $454,617,000 after buying an additional 27,618 shares during the last quarter. Brown Advisory Inc. grew its position in shares of Illumina by 54,220.9% in the 4th quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company's stock worth $255,586,000 after acquiring an additional 1,909,118 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Illumina in the 4th quarter valued at approximately $228,714,000. 89.42% of the stock is owned by institutional investors and hedge funds.

Illumina Price Performance

Shares of ILMN traded down $3.82 during midday trading on Friday, reaching $75.76. The stock had a trading volume of 3,709,372 shares, compared to its average volume of 2,287,325. 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 capitalization of $11.99 billion, a P/E ratio of -9.86, a P/E/G ratio of 1.60 and a beta of 1.35. The firm's 50 day moving average price is $78.94 and its 200-day moving average price is $113.32. Illumina, Inc. has a 52 week low of $68.70 and a 52 week high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. Illumina's revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.98 EPS. On average, analysts forecast that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on ILMN shares. Morgan Stanley reduced their price objective on Illumina from $150.00 to $136.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 11th. Stephens reaffirmed an "overweight" rating and set a $156.00 price objective on shares of Illumina in a research report on Tuesday, March 11th. HSBC cut shares of Illumina from a "buy" rating to a "hold" rating and set a $100.00 target price on the stock. in a report on Friday, February 28th. Guggenheim dropped their price target on Illumina from $122.00 to $114.00 and set a "buy" rating on the stock in a research report on Friday. Finally, Barclays reduced their price objective on Illumina from $100.00 to $77.00 and set an "underweight" rating for the company in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $133.00.

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.