Illumina, Inc. (NASDAQ:ILMN) Shares Sold by Corvex Management LP

Corvex Management LP cut its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 25.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,700,159 shares of the life sciences company's stock after selling 580,639 shares during the period. Illumina makes up 6.3% of Corvex Management LP's holdings, making the stock its 4th biggest holding. Corvex Management LP owned approximately 1.07% of Illumina worth $227,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in ILMN. Capital World Investors increased its stake in Illumina by 408.6% during the fourth quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company's stock worth $2,408,721,000 after purchasing an additional 14,481,232 shares during the period. Brown Advisory Inc. lifted its holdings in Illumina by 54,220.9% during the 4th quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company's stock worth $255,586,000 after buying an additional 1,909,118 shares in the last quarter. Norges Bank acquired a new stake in Illumina during the 4th quarter worth approximately $228,714,000. Bessemer Group Inc. grew its stake in shares of Illumina by 32,837.5% in the fourth quarter. Bessemer Group Inc. now owns 1,348,131 shares of the life sciences company's stock worth $180,152,000 after acquiring an additional 1,344,038 shares in the last quarter. Finally, WCM Investment Management LLC increased its position in shares of 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 worth $551,625,000 after acquiring an additional 867,673 shares during the period. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Stock Performance

Shares of NASDAQ ILMN traded down $3.82 during midday trading on Friday, reaching $75.76. 3,709,372 shares of the company were exchanged, compared to its average volume of 2,287,325. Illumina, Inc. has a 1 year low of $68.70 and a 1 year high of $156.66. The stock has a fifty day simple moving average of $78.94 and a 200 day simple moving average of $113.32. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. The stock has a market cap of $11.99 billion, a P/E ratio of -9.86, a PEG ratio of 1.60 and a beta of 1.35.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Guggenheim decreased their target price on Illumina from $122.00 to $114.00 and set a "buy" rating for the company in a report on Friday. Barclays lowered 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. JPMorgan Chase & Co. reduced their target price on shares of Illumina from $120.00 to $85.00 and set a "neutral" rating on the stock in a report on Friday. HSBC cut shares of Illumina from a "buy" rating to a "hold" rating and set a $100.00 price target for the company. in a report on Friday, February 28th. Finally, Hsbc Global Res lowered shares of Illumina from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $133.00.

Illumina 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.