Cibc World Markets Corp Has $961,000 Stake in Illumina, Inc. (NASDAQ:ILMN)

Cibc World Markets Corp lessened its stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 43.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,191 shares of the life sciences company's stock after selling 5,582 shares during the quarter. Cibc World Markets Corp's holdings in Illumina were worth $961,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Corient Private Wealth LLC grew its position in Illumina by 302.4% during the fourth quarter. Corient Private Wealth LLC now owns 259,553 shares of the life sciences company's stock valued at $34,684,000 after acquiring an additional 195,044 shares during the period. Centurion Wealth Management LLC purchased a new stake in shares of Illumina during the 4th quarter worth about $214,000. Envestnet Portfolio Solutions Inc. increased its position in Illumina by 4.1% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 15,580 shares of the life sciences company's stock worth $2,082,000 after purchasing an additional 614 shares in the last quarter. Catalyst Funds Management Pty Ltd raised its holdings in Illumina by 1,962.5% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 16,500 shares of the life sciences company's stock valued at $2,205,000 after buying an additional 15,700 shares during the period. Finally, Carret Asset Management LLC acquired a new position in Illumina during the fourth quarter valued at approximately $213,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on ILMN. Royal Bank of Canada cut their target price on shares of Illumina from $247.00 to $128.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 12th. Robert W. Baird reduced their price objective on Illumina from $127.00 to $90.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 5th. HSBC lowered Illumina from a "buy" rating to a "hold" rating and set a $100.00 target price for the company. in a research note on Friday, February 28th. TD Cowen lowered Illumina from a "buy" rating to a "hold" rating and reduced their price target for the stock from $177.00 to $140.00 in a research report on Friday, February 7th. Finally, Piper Sandler increased their price objective on shares of Illumina from $185.00 to $190.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Illumina presently has an average rating of "Moderate Buy" and a consensus target price of $140.90.

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Illumina Price Performance

Shares of NASDAQ ILMN traded down $4.70 during trading on Wednesday, hitting $82.83. The company had a trading volume of 2,081,531 shares, compared to its average volume of 2,103,100. Illumina, Inc. has a 52 week low of $80.18 and a 52 week high of $156.66. The business's 50-day moving average is $106.10 and its 200 day moving average is $127.71. The company has a market cap of $13.12 billion, a P/E ratio of -10.79, a PEG ratio of 1.60 and a beta of 1.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. Equities research analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current fiscal 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.