Primecap Management Co. CA Trims Holdings in Illumina, Inc. (NASDAQ:ILMN)

Primecap Management Co. CA cut its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,455,819 shares of the life sciences company’s stock after selling 60,540 shares during the quarter. Primecap Management Co. CA owned about 1.55% of Illumina worth $328,171,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ILMN. WCM Investment Management LLC grew its stake in Illumina by 26.6% in the 4th quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company’s stock valued at $551,625,000 after acquiring an additional 867,673 shares during the last quarter. ARK Investment Management LLC acquired a new stake in Illumina in the 4th quarter valued at about $91,714,000. Massachusetts Financial Services Co. MA grew its stake in Illumina by 148.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,056,172 shares of the life sciences company’s stock valued at $137,735,000 after acquiring an additional 631,294 shares during the last quarter. Janus Henderson Group PLC grew its stake in Illumina by 40.5% in the 3rd quarter. Janus Henderson Group PLC now owns 2,168,057 shares of the life sciences company’s stock valued at $282,735,000 after acquiring an additional 625,245 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. acquired a new stake in shares of Illumina during the 4th quarter worth about $65,813,000. 89.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ILMN. Barclays reaffirmed an “underweight” rating on shares of Illumina in a research note on Tuesday, March 11th. Morgan Stanley decreased their price target on shares of Illumina from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Royal Bank of Canada decreased their price target on shares of Illumina from $247.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. Citigroup decreased their price target on shares of Illumina from $130.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, Guggenheim decreased their price target on shares of Illumina from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $140.90.

Illumina Trading Up 0.1 %

NASDAQ ILMN opened at $85.68 on Tuesday. Illumina, Inc. has a one year low of $80.18 and a one year high of $156.66. The company’s 50 day moving average price is $112.46 and its 200 day moving average price is $129.53. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. The firm has a market capitalization of $13.57 billion, a price-to-earnings ratio of -11.16, a PEG ratio of 1.60 and a beta of 1.17.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. On average, sell-side analysts predict that Illumina, Inc. will post 4.51 EPS for the current year.

Illumina Profile

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.