Carret Asset Management LLC Lowers Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Carret Asset Management LLC lessened its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 20.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,465 shares of the life sciences company’s stock after selling 375 shares during the quarter. Carret Asset Management LLC’s holdings in Illumina were worth $201,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gotham Asset Management LLC increased its stake in shares of Illumina by 150.9% in the 3rd quarter. Gotham Asset Management LLC now owns 10,649 shares of the life sciences company’s stock valued at $1,462,000 after purchasing an additional 6,404 shares in the last quarter. Glenmede Trust Co. NA increased its position in shares of Illumina by 1.5% in the third quarter. Glenmede Trust Co. NA now owns 44,462 shares of the life sciences company’s stock valued at $6,104,000 after buying an additional 660 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Illumina by 64.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,562 shares of the life sciences company’s stock worth $352,000 after buying an additional 1,004 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Illumina by 13.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 922,446 shares of the life sciences company’s stock worth $126,629,000 after buying an additional 110,138 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its position in shares of Illumina by 25.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 97,407 shares of the life sciences company’s stock valued at $13,372,000 after buying an additional 19,900 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Illumina Stock Performance

ILMN stock opened at $105.28 on Thursday. Illumina, Inc. has a one year low of $89.00 and a one year high of $195.64. The firm’s 50 day moving average price is $110.95 and its 200-day moving average price is $126.99. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.26.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Thursday, May 2nd. The life sciences company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.04 by $0.05. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 EPS. As a group, equities research analysts forecast that Illumina, Inc. will post 0.98 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ILMN. StockNews.com initiated coverage on shares of Illumina in a report on Sunday. They issued a “buy” rating for the company. Stephens reissued an “overweight” rating and set a $170.00 target price on shares of Illumina in a research note on Tuesday, May 7th. Evercore ISI decreased their price target on shares of Illumina from $195.00 to $175.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 11th. Barclays lifted their price objective on Illumina from $85.00 to $100.00 and gave the stock an “underweight” rating in a report on Wednesday, April 10th. Finally, TD Cowen reduced their target price on Illumina from $140.00 to $122.00 and set a “hold” rating for the company in a report on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $157.62.

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.