Coronation Fund Managers Ltd. Cuts Stock Holdings in Illumina, Inc. (NASDAQ:ILMN)

Coronation Fund Managers Ltd. trimmed its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 29.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,148 shares of the life sciences company’s stock after selling 4,959 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in Illumina were worth $1,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. WCM Investment Management LLC raised its stake in shares of Illumina by 2,232.3% during the 1st quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock worth $463,760,000 after purchasing an additional 3,232,418 shares during the period. Vanguard Group Inc. raised its stake in Illumina by 15.0% in the 3rd quarter. Vanguard Group Inc. now owns 17,967,758 shares of the life sciences company’s stock valued at $2,466,614,000 after acquiring an additional 2,336,935 shares during the period. Capital World Investors bought a new stake in Illumina in the 4th quarter valued at about $271,753,000. Norges Bank bought a new stake in Illumina in the 4th quarter valued at about $264,636,000. Finally, Coatue Management LLC bought a new stake in shares of Illumina during the fourth quarter valued at about $119,285,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Price Performance

ILMN stock traded up $6.49 during midday trading on Wednesday, hitting $113.17. The company’s stock had a trading volume of 2,344,771 shares, compared to its average volume of 2,176,536. Illumina, Inc. has a 12 month low of $89.00 and a 12 month high of $195.64. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $18.03 billion, a price-to-earnings ratio of -13.95 and a beta of 1.15. The company has a 50 day moving average of $109.34 and a two-hundred day moving average of $125.92.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the company posted $0.08 EPS. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, analysts expect that Illumina, Inc. will post 0.98 EPS for the current year.

Analyst Ratings Changes

ILMN has been the topic of a number of recent analyst reports. Barclays increased their price objective on Illumina from $85.00 to $100.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 10th. Stephens reiterated an “overweight” rating and set a $170.00 target price on shares of Illumina in a research report on Wednesday. StockNews.com started coverage on shares of Illumina in a research report on Sunday, June 30th. They set a “buy” rating for the company. OTR Global reiterated a “mixed” rating on shares of Illumina in a research report on Wednesday, March 20th. Finally, Citigroup upgraded shares of Illumina from a “neutral” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Illumina has a consensus rating of “Hold” and a consensus price target of $158.57.

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.