Alliancebernstein L.P. Sells 599,785 Shares of Illumina, Inc. (NASDAQ:ILMN)

Alliancebernstein L.P. trimmed its holdings in Illumina, Inc. (NASDAQ:ILMN) by 26.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,688,859 shares of the life sciences company’s stock after selling 599,785 shares during the quarter. Alliancebernstein L.P.’s holdings in Illumina were worth $225,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of ILMN. Norges Bank bought a new position in shares of Illumina during the fourth quarter valued at approximately $228,714,000. WCM Investment Management LLC boosted its holdings in Illumina by 26.6% in 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 in the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Illumina by 245.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,182,454 shares of the life sciences company’s stock worth $158,011,000 after acquiring an additional 840,423 shares during the last quarter. ARK Investment Management LLC bought a new position in shares of Illumina during the fourth quarter valued at $91,714,000. Finally, Janus Henderson Group PLC raised its position in shares of Illumina by 40.5% in the 3rd quarter. Janus Henderson Group PLC now owns 2,168,057 shares of the life sciences company’s stock worth $282,735,000 after purchasing an additional 625,245 shares during the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Price Performance

NASDAQ ILMN opened at $79.34 on Tuesday. The company’s 50 day moving average is $101.65 and its two-hundred day moving average is $126.49. 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 $12.57 billion, a price-to-earnings ratio of -10.33, a PEG ratio of 1.60 and a beta of 1.17. Illumina, Inc. has a 12 month low of $77.54 and a 12 month high of $156.66.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. As a group, research analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current year.

Wall Street Analyst Weigh In

ILMN has been the topic of several recent analyst reports. Guggenheim cut their price objective on shares of Illumina from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. HSBC cut shares of Illumina from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a report on Friday, February 28th. Morgan Stanley lowered their price objective on Illumina from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Piper Sandler lifted their target price on Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Royal Bank of Canada reduced their price objective on Illumina from $247.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $140.90.

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.