Cannell & Spears LLC Has $88.79 Million Stock Holdings in Illumina, Inc. (NASDAQ:ILMN)

Cannell & Spears LLC raised its position in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 664,473 shares of the life sciences company's stock after purchasing an additional 24,716 shares during the quarter. Illumina comprises approximately 1.8% of Cannell & Spears LLC's investment portfolio, making the stock its 7th biggest holding. Cannell & Spears LLC owned 0.42% of Illumina worth $88,794,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ILMN. Norges Bank bought a new position in shares of Illumina in the fourth quarter valued at $228,714,000. WCM Investment Management LLC grew its stake in shares of Illumina by 26.6% in the 4th quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company's stock valued at $551,625,000 after buying an additional 867,673 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in Illumina by 245.7% during 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 in the last quarter. ARK Investment Management LLC bought a new stake in shares of Illumina during the 4th quarter worth about $91,714,000. Finally, Janus Henderson Group PLC increased its holdings in shares of 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 valued at $282,735,000 after acquiring an additional 625,245 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company's stock.

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Analysts Set New Price Targets

A number of research firms recently issued reports on ILMN. Stephens reiterated an "overweight" rating and issued a $156.00 target price on shares of Illumina in a research note on Tuesday, March 11th. Robert W. Baird cut their price objective on 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 lowered Illumina from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th. Canaccord Genuity Group cut their price target on Illumina from $135.00 to $115.00 and set a "hold" rating for the company in a report on Tuesday, March 11th. Finally, Citigroup lowered their price objective on shares of Illumina from $130.00 to $90.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $140.90.

Illumina Price Performance

ILMN stock traded down $2.92 during midday trading on Friday, reaching $73.50. 1,453,736 shares of the company's stock traded hands, compared to its average volume of 2,210,510. The company has a 50-day simple moving average of $98.06 and a two-hundred day simple moving average of $125.48. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. Illumina, Inc. has a 1-year low of $70.68 and a 1-year high of $156.66. The company has a market cap of $11.64 billion, a price-to-earnings ratio of -9.56, a PEG ratio of 1.60 and a beta of 1.38.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly 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%. On average, analysts anticipate that Illumina, Inc. will post 4.51 earnings per share 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.