Verition Fund Management LLC Decreases Holdings in Illumina, Inc. (NASDAQ:ILMN)

Verition Fund Management LLC decreased its stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 38.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,140 shares of the life sciences company's stock after selling 11,975 shares during the period. Verition Fund Management LLC's holdings in Illumina were worth $2,496,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ILMN. Industrial Alliance Investment Management Inc. acquired a new position in Illumina in the 2nd quarter valued at approximately $34,000. Massmutual Trust Co. FSB ADV increased its position in Illumina by 65.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company's stock valued at $56,000 after acquiring an additional 168 shares during the period. Itau Unibanco Holding S.A. acquired a new position in Illumina in the 2nd quarter valued at approximately $61,000. Private Trust Co. NA increased its position in shares of Illumina by 81.2% during the third quarter. Private Trust Co. NA now owns 473 shares of the life sciences company's stock worth $62,000 after buying an additional 212 shares during the period. Finally, Mizuho Securities Co. Ltd. acquired a new stake in shares of Illumina during the second quarter worth $63,000. Institutional investors own 89.42% of the company's stock.

Illumina Stock Down 1.8 %

Shares of ILMN traded down $2.59 during trading hours on Thursday, reaching $139.91. 1,378,594 shares of the stock traded hands, compared to its average volume of 2,016,853. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. The stock has a fifty day simple moving average of $142.74 and a 200 day simple moving average of $126.57. Illumina, Inc. has a 52 week low of $100.08 and a 52 week high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the firm earned $0.33 earnings per share. The firm's revenue was down 3.5% on a year-over-year basis. As a group, research analysts expect that Illumina, Inc. will post 4.11 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ILMN shares. Argus upgraded shares of Illumina from a "hold" rating to a "buy" rating and set a $150.00 price objective for the company in a research report on Wednesday, August 28th. Piper Sandler decreased their price objective on shares of Illumina from $195.00 to $185.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Daiwa Capital Markets upgraded shares of Illumina from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $120.00 to $154.00 in a research report on Friday, August 16th. StockNews.com started coverage on shares of Illumina in a research report on Thursday, August 29th. They set a "buy" rating for the company. Finally, Hsbc Global Res upgraded shares of Illumina from a "hold" rating to a "strong-buy" rating and set a $180.00 price objective for the company in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Illumina presently has a consensus rating of "Moderate Buy" and a consensus price target of $164.00.

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.