Carmel Capital Partners LLC Decreases Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Carmel Capital Partners LLC decreased its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 27.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,125 shares of the life sciences company's stock after selling 4,181 shares during the quarter. Carmel Capital Partners LLC's holdings in Illumina were worth $1,451,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc lifted its position in Illumina by 292.9% during the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company's stock valued at $34,000 after purchasing an additional 246 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new position in Illumina during the second quarter valued at $34,000. Massmutual Trust Co. FSB ADV lifted its position in Illumina by 65.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company's stock valued at $56,000 after purchasing an additional 168 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Illumina during the second quarter valued at $61,000. Finally, Mizuho Securities Co. Ltd. bought a new position in Illumina during the second quarter valued at $63,000. Institutional investors own 89.42% of the company's stock.

Illumina Stock Down 2.6 %

Shares of ILMN stock traded down $4.06 during mid-day trading on Friday, hitting $151.09. The stock had a trading volume of 2,209,599 shares, compared to its average volume of 1,772,358. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 0.86. The firm has a market capitalization of $24.07 billion, a P/E ratio of -15.17 and a beta of 1.13. Illumina, Inc. has a 12-month low of $89.00 and a 12-month high of $156.66. The firm's 50-day moving average is $138.09 and its two-hundred day moving average is $123.56.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.26. The firm had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The firm's quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 EPS. On average, analysts predict that Illumina, Inc. will post 4.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

ILMN has been the subject of several research reports. Citigroup increased their price objective on shares of Illumina from $155.00 to $190.00 and gave the company a "buy" rating in a research report on Tuesday. Royal Bank of Canada increased their price objective on shares of Illumina from $252.00 to $254.00 and gave the stock an "outperform" rating in a research report on Tuesday. StockNews.com started coverage on Illumina in a research report on Thursday, August 29th. They set a "buy" rating for the company. Daiwa Capital Markets raised Illumina from a "neutral" rating to a "buy" rating and raised their price target for the stock from $120.00 to $154.00 in a research note on Friday, August 16th. Finally, Canaccord Genuity Group upped their price objective on Illumina from $130.00 to $145.00 and gave the company a "hold" rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $162.18.

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.