Healthcare of Ontario Pension Plan Trust Fund Cuts Position in Illumina, Inc. (NASDAQ:ILMN)

Healthcare of Ontario Pension Plan Trust Fund trimmed its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 98.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,908 shares of the life sciences company’s stock after selling 149,092 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Illumina were worth $399,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Illumina by 0.4% during the first quarter. Vanguard Group Inc. now owns 18,245,041 shares of the life sciences company’s stock worth $2,505,409,000 after buying an additional 66,528 shares during the period. Edgewood Management LLC increased its stake in Illumina by 4.6% in the fourth quarter. Edgewood Management LLC now owns 6,878,495 shares of the life sciences company’s stock valued at $957,762,000 after purchasing an additional 302,222 shares during the last quarter. Baillie Gifford & Co. increased its stake in Illumina by 8.7% in the first quarter. Baillie Gifford & Co. now owns 5,736,418 shares of the life sciences company’s stock valued at $787,725,000 after purchasing an additional 460,649 shares during the last quarter. WCM Investment Management LLC increased its stake in Illumina by 2,232.3% in the first quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock valued at $463,760,000 after purchasing an additional 3,232,418 shares during the last quarter. Finally, Capital World Investors purchased a new position in Illumina in the fourth quarter valued at approximately $271,753,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ILMN. TD Cowen dropped their price target on shares of Illumina from $140.00 to $122.00 and set a “hold” rating on the stock in a research note on Thursday, June 6th. Barclays increased their price target on shares of Illumina from $85.00 to $100.00 and gave the company an “underweight” rating in a research note on Wednesday, April 10th. Citigroup upgraded shares of Illumina from a “neutral” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Wednesday, July 10th. Royal Bank of Canada dropped their price target on shares of Illumina from $249.00 to $242.00 and set an “outperform” rating on the stock in a research note on Monday, July 1st. Finally, StockNews.com began coverage on shares of Illumina in a report on Sunday, June 30th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $158.57.

Illumina Stock Performance

NASDAQ:ILMN opened at $117.30 on Friday. The firm’s fifty day moving average price is $109.69 and its 200 day moving average price is $124.39. Illumina, Inc. has a 1-year low of $89.00 and a 1-year high of $195.64. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.36. The firm has a market cap of $18.69 billion, a price-to-earnings ratio of -14.39 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last issued its earnings results on Thursday, May 2nd. The life sciences company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. The business’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.08 EPS. On average, sell-side analysts expect that Illumina, Inc. will post 1.38 EPS for the current year.

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.