Gabelli Funds LLC Trims Stock Holdings in Illumina, Inc. (NASDAQ:ILMN)

Gabelli Funds LLC reduced its position in Illumina, Inc. (NASDAQ:ILMNFree Report) by 15.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,164 shares of the life sciences company’s stock after selling 925 shares during the quarter. Gabelli Funds LLC’s holdings in Illumina were worth $709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in shares of Illumina by 6.6% in the third quarter. Bank of New York Mellon Corp now owns 3,648,935 shares of the life sciences company’s stock valued at $500,926,000 after acquiring an additional 225,074 shares during the period. Geode Capital Management LLC raised its stake in shares of Illumina by 18.6% during the second quarter. Geode Capital Management LLC now owns 3,473,112 shares of the life sciences company’s stock worth $649,525,000 after purchasing an additional 544,786 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Illumina by 268.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,113,230 shares of the life sciences company’s stock worth $427,295,000 after purchasing an additional 1,539,186 shares during the last quarter. Select Equity Group L.P. raised its stake in shares of Illumina by 22.5% during the fourth quarter. Select Equity Group L.P. now owns 1,912,714 shares of the life sciences company’s stock worth $386,751,000 after purchasing an additional 351,701 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Illumina by 120.0% during the third quarter. Barclays PLC now owns 1,768,355 shares of the life sciences company’s stock worth $242,758,000 after purchasing an additional 964,709 shares during the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Illumina Trading Down 3.8 %

ILMN opened at $137.84 on Friday. The business’s fifty day simple moving average is $135.24 and its 200 day simple moving average is $137.96. The company has a quick ratio of 1.28, a current ratio of 1.69 and a debt-to-equity ratio of 0.25. Illumina, Inc. has a 52 week low of $89.00 and a 52 week high of $238.55.

Illumina (NASDAQ:ILMNGet Free Report) last issued its quarterly earnings results on Thursday, February 8th. The life sciences company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.13. Illumina had a positive return on equity of 2.15% and a negative net margin of 25.78%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company earned $0.14 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, equities analysts predict that Illumina, Inc. will post 1.03 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ILMN. Canaccord Genuity Group cut Illumina from a “buy” rating to a “hold” rating and cut their price target for the stock from $210.00 to $120.00 in a research note on Friday, November 10th. Sanford C. Bernstein upgraded Illumina from an “underperform” rating to a “market perform” rating in a research note on Friday, December 15th. Stephens began coverage on Illumina in a research report on Thursday, December 14th. They issued an “overweight” rating and a $170.00 price objective for the company. Bank of America cut Illumina from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $140.00 to $100.00 in a research report on Tuesday, December 12th. Finally, Guggenheim began coverage on Illumina in a research report on Thursday, December 14th. They issued a “buy” rating and a $155.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $166.95.

Read Our Latest Analysis on ILMN

About Illumina

(Free Report)

Illumina, Inc develops, manufactures, and markets life science tools and integrated systems for large-scale analysis of genetic variation and function. 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; and whole-genome sequencing kits, which sequence entire genomes of any size and complexity, and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.

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Institutional Ownership by Quarter for Illumina (NASDAQ:ILMN)

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