National Bank of Canada FI Decreases Stake in Illumina, Inc. (NASDAQ:ILMN)

National Bank of Canada FI lowered its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 86.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,097 shares of the life sciences company’s stock after selling 211,120 shares during the period. National Bank of Canada FI’s holdings in Illumina were worth $4,447,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ILMN. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Illumina in the 2nd quarter valued at about $34,000. Massmutual Trust Co. FSB ADV raised its position 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 worth $56,000 after buying an additional 168 shares during the last quarter. Private Trust Co. NA lifted its position in Illumina by 81.2% in the third quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock valued at $62,000 after purchasing an additional 212 shares during the period. Focused Wealth Management Inc purchased a new stake in shares of Illumina in the third quarter valued at approximately $63,000. Finally, Hollencrest Capital Management purchased a new stake in shares of Illumina during the 3rd quarter worth $63,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on ILMN. Royal Bank of Canada lifted their price target on Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Morgan Stanley restated an “equal weight” rating and set a $156.00 price objective on shares of Illumina in a report on Tuesday, November 12th. Daiwa America upgraded Illumina to a “strong-buy” rating in a report on Friday, August 16th. UBS Group raised their price objective on Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Citigroup cut Illumina from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $190.00 to $165.00 in a report on Wednesday. Nine analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Illumina has a consensus rating of “Moderate Buy” and an average target price of $165.86.

Illumina Stock Down 0.8 %

ILMN stock opened at $146.43 on Friday. The firm’s 50-day moving average is $144.02 and its two-hundred day moving average is $127.89. The company has a market capitalization of $23.22 billion, a price-to-earnings ratio of -14.70 and a beta of 1.11. Illumina, Inc. has a 52 week low of $100.08 and a 52 week high of $156.66. 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 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the firm posted $0.33 EPS. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, analysts forecast that Illumina, Inc. will post 4.11 earnings per share for the current fiscal year.

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.