Cibc World Markets Corp Decreases Stake in Illumina, Inc. (NASDAQ:ILMN)

Cibc World Markets Corp trimmed its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 43.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,191 shares of the life sciences company’s stock after selling 5,582 shares during the quarter. Cibc World Markets Corp’s holdings in Illumina were worth $961,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ILMN. Empowered Funds LLC raised its position in shares of Illumina by 1.7% in the 3rd quarter. Empowered Funds LLC now owns 3,960 shares of the life sciences company’s stock valued at $516,000 after purchasing an additional 66 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Illumina by 2.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 61,749 shares of the life sciences company’s stock valued at $8,052,000 after acquiring an additional 1,451 shares during the last quarter. Caprock Group LLC grew its holdings in Illumina by 3.0% during the 3rd quarter. Caprock Group LLC now owns 2,884 shares of the life sciences company’s stock worth $376,000 after acquiring an additional 83 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Illumina in the 3rd quarter worth about $710,000. Finally, Commerce Bank raised its stake in shares of Illumina by 3.5% in the 3rd quarter. Commerce Bank now owns 6,376 shares of the life sciences company’s stock valued at $831,000 after purchasing an additional 217 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ILMN. Robert W. Baird decreased their price target on Illumina from $127.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. HSBC downgraded Illumina from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a report on Friday, February 28th. TD Cowen cut Illumina from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $177.00 to $140.00 in a research note on Friday, February 7th. Canaccord Genuity Group lowered their target price on shares of Illumina from $135.00 to $115.00 and set a “hold” rating for the company in a research note on Tuesday, March 11th. Finally, Barclays restated an “underweight” rating on shares of Illumina in a research report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Illumina currently has an average rating of “Moderate Buy” and an average target price of $140.90.

Illumina Price Performance

Shares of NASDAQ ILMN opened at $87.66 on Friday. The stock has a market cap of $13.89 billion, a P/E ratio of -11.41, a P/E/G ratio of 1.60 and a beta of 1.17. The firm’s 50-day simple moving average is $108.20 and its 200 day simple moving average is $128.28. Illumina, Inc. has a fifty-two week low of $80.18 and a fifty-two week high of $156.66. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63.

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

Illumina Company 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.