Quest Partners LLC Lowers Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Quest Partners LLC trimmed its stake in Illumina, Inc. (NASDAQ:ILMN) by 10.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,137 shares of the life sciences company’s stock after selling 360 shares during the period. Quest Partners LLC’s holdings in Illumina were worth $409,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Industrial Alliance Investment Management Inc. acquired a new position in Illumina during the second quarter worth $34,000. Versant Capital Management Inc lifted its stake in Illumina by 292.9% during the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after acquiring an additional 246 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in Illumina by 65.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after acquiring an additional 168 shares during the period. Focused Wealth Management Inc acquired a new position in Illumina in the 3rd quarter valued at about $63,000. Finally, Hollencrest Capital Management purchased a new stake in Illumina during the third quarter worth about $63,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Argus upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Wednesday, August 28th. Stephens upped their price objective on Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. UBS Group lifted their target price on Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. StockNews.com initiated coverage on Illumina in a research report on Thursday, August 29th. They issued a “buy” rating on the stock. Finally, Hsbc Global Res raised Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price objective for the company in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Illumina has an average rating of “Moderate Buy” and an average target price of $164.00.

Illumina Stock Performance

Shares of ILMN opened at $140.14 on Monday. The company’s 50 day simple moving average is $140.61 and its 200-day simple moving average is $124.94. Illumina, Inc. has a 12-month low of $93.51 and a 12-month high of $156.66. The firm has a market cap of $22.23 billion, a PE ratio of -14.07 and a beta of 1.13. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business posted $0.33 earnings per share. Illumina’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, equities analysts predict that Illumina, Inc. will post 4.11 EPS for the current year.

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.