Kornitzer Capital Management Inc. KS lessened its position in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 58.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,052 shares of the life sciences company's stock after selling 29,380 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Illumina were worth $2,745,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Primecap Management Co. CA grew its stake in shares of Illumina by 462.5% in the second quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company's stock worth $253,514,000 after purchasing an additional 1,997,010 shares during the last quarter. Millennium Management LLC grew its position in shares of Illumina by 305.0% in the 2nd quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company's stock worth $155,067,000 after buying an additional 1,118,747 shares during the last quarter. Capital World Investors increased its stake in shares of Illumina by 41.1% during the first quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company's stock valued at $378,111,000 after buying an additional 801,814 shares during the period. Marshall Wace LLP purchased a new position in shares of Illumina during the second quarter valued at approximately $77,628,000. Finally, Swedbank AB bought a new position in shares of Illumina during the first quarter valued at approximately $99,682,000. Hedge funds and other institutional investors own 89.42% of the company's stock.
NASDAQ:ILMN opened at $151.09 on Friday. Illumina, Inc. has a 52 week low of $89.00 and a 52 week high of $156.66. The stock has a market cap of $24.07 billion, a price-to-earnings ratio of -15.17 and a beta of 1.13. The company's 50 day moving average price is $138.09 and its 200-day moving average price is $123.56. The company has a quick ratio of 0.86, a current ratio of 2.43 and a debt-to-equity ratio of 0.94.
Illumina (NASDAQ:ILMN - Get Free Report) last issued its earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.88 by $0.26. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the business posted $0.33 EPS. The company's revenue was down 3.5% compared to the same quarter last year. On average, equities research analysts forecast that Illumina, Inc. will post 4.11 earnings per share for the current fiscal year.
Several analysts recently weighed in on the stock. Piper Sandler cut their price target on shares of Illumina from $200.00 to $195.00 and set an "overweight" rating on the stock in a report on Tuesday, August 13th. HSBC raised shares of Illumina from a "hold" rating to a "buy" rating and set a $180.00 target price on the stock in a research note on Thursday, October 17th. Canaccord Genuity Group raised their price objective on shares of Illumina from $130.00 to $145.00 and gave the stock a "hold" rating in a report on Tuesday. JPMorgan Chase & Co. upped their target price on Illumina from $125.00 to $140.00 and gave the stock a "neutral" rating in a report on Tuesday. Finally, Daiwa Capital Markets upgraded Illumina from a "neutral" rating to a "buy" rating and raised their target price for the company from $120.00 to $154.00 in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $162.18.
View Our Latest Stock Report on ILMN
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.
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