Alliancebernstein L.P. Reduces Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Alliancebernstein L.P. trimmed its position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 26.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,688,859 shares of the life sciences company's stock after selling 599,785 shares during the period. Alliancebernstein L.P. owned about 1.06% of Illumina worth $225,682,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Illumina in the 4th quarter valued at approximately $228,714,000. WCM Investment Management LLC grew its stake 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 purchasing an additional 867,673 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in 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 valued at $158,011,000 after buying an additional 840,423 shares during the last quarter. ARK Investment Management LLC acquired a new stake in Illumina in the fourth quarter valued at $91,714,000. Finally, Janus Henderson Group PLC lifted its holdings in Illumina by 40.5% during 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 buying an additional 625,245 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ILMN. Canaccord Genuity Group cut their target price on Illumina from $135.00 to $115.00 and set a "hold" rating on the stock in a research report on Tuesday, March 11th. Robert W. Baird reduced their price objective on shares of Illumina from $127.00 to $90.00 and set a "neutral" rating for the company in a research report on Wednesday, March 5th. Hsbc Global Res cut shares of Illumina from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th. Guggenheim cut their price target on shares of Illumina from $170.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Finally, Citigroup decreased their price objective on shares of Illumina from $130.00 to $90.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $140.90.

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Illumina Stock Performance

Shares of Illumina stock traded down $2.26 on Friday, reaching $74.16. 3,912,056 shares of the stock were exchanged, compared to its average volume of 2,222,582. The firm has a market capitalization of $11.75 billion, a PE ratio of -9.66, a PEG ratio of 1.60 and a beta of 1.38. Illumina, Inc. has a 1-year low of $70.64 and a 1-year high of $156.66. The business has a fifty day moving average price of $96.82 and a two-hundred day moving average price of $125.06. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63.

Illumina (NASDAQ:ILMN - Get Free Report) last released its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate 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 fiscal year.

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.