Pinnacle Associates Ltd. Has $403,000 Holdings in Illumina, Inc. (NASDAQ:ILMN)

Pinnacle Associates Ltd. boosted its position in shares of Illumina, Inc. (NASDAQ:ILMNGet Rating) by 33.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,110 shares of the life sciences company’s stock after acquiring an additional 532 shares during the period. Pinnacle Associates Ltd.’s holdings in Illumina were worth $403,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ILMN. Veritas Asset Management LLP lifted its position in Illumina by 150.6% during the 2nd quarter. Veritas Asset Management LLP now owns 1,563,455 shares of the life sciences company’s stock worth $288,239,000 after acquiring an additional 939,671 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in Illumina by 5.4% during the 2nd quarter. Loomis Sayles & Co. L P now owns 3,732,098 shares of the life sciences company’s stock worth $688,050,000 after acquiring an additional 191,341 shares during the last quarter. Federated Hermes Inc. lifted its position in Illumina by 240.0% during the 1st quarter. Federated Hermes Inc. now owns 258,226 shares of the life sciences company’s stock worth $90,225,000 after acquiring an additional 182,272 shares during the last quarter. Eagle Health Investments LP acquired a new position in Illumina during the 2nd quarter worth $21,959,000. Finally, Castleview Partners LLC raised its position in shares of Illumina by 18,873.7% during the second quarter. Castleview Partners LLC now owns 117,068 shares of the life sciences company’s stock valued at $635,000 after buying an additional 116,451 shares during the last quarter. Institutional investors and hedge funds own 87.97% of the company’s stock.

Insider Activity

In other news, SVP Susan H. Tousi sold 500 shares of the stock in a transaction that occurred on Tuesday, December 6th. The shares were sold at an average price of $212.63, for a total transaction of $106,315.00. Following the sale, the senior vice president now directly owns 39,162 shares of the company’s stock, valued at $8,327,016.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Aimee L. Hoyt sold 871 shares of the stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $205.57, for a total value of $179,051.47. Following the transaction, the senior vice president now directly owns 2,796 shares in the company, valued at $574,773.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Susan H. Tousi sold 500 shares of the stock in a transaction that occurred on Tuesday, December 6th. The shares were sold at an average price of $212.63, for a total transaction of $106,315.00. Following the completion of the transaction, the senior vice president now owns 39,162 shares in the company, valued at $8,327,016.06. The disclosure for this sale can be found here. Insiders have sold 2,371 shares of company stock valued at $499,481 over the last three months. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ILMN has been the subject of a number of research analyst reports. Citigroup lowered shares of Illumina from a “neutral” rating to a “sell” rating and cut their price objective for the company from $200.00 to $180.00 in a research report on Monday, December 12th. Cowen cut their price objective on shares of Illumina from $350.00 to $296.00 in a research report on Tuesday, January 10th. Credit Suisse Group cut their price objective on shares of Illumina from $230.00 to $225.00 and set a “neutral” rating for the company in a research report on Friday, November 4th. SVB Leerink raised shares of Illumina from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $220.00 to $270.00 in a research report on Tuesday, October 4th. Finally, Scotiabank began coverage on shares of Illumina in a research report on Wednesday, January 4th. They set a “sector perform” rating and a $216.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $250.22.

Illumina Price Performance

Shares of Illumina stock opened at $201.11 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $31.63 billion, a price-to-earnings ratio of -7.62 and a beta of 1.13. Illumina, Inc. has a 1-year low of $173.45 and a 1-year high of $405.62. The firm’s 50-day moving average price is $209.86 and its two-hundred day moving average price is $207.38.

Illumina (NASDAQ:ILMNGet Rating) last issued its quarterly earnings data on Thursday, November 3rd. The life sciences company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.05. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Illumina had a negative net margin of 88.40% and a positive return on equity of 4.36%. On average, equities analysts predict that Illumina, Inc. will post 2.23 earnings per share for the current fiscal year.

Illumina Company Profile

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Illumina, Inc provides sequencing and array-based solutions for genetic and genomic analysis. Its products and services serve customers in a range of markets enabling the adoption of genomic solutions in research and clinical settings for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments.

Further Reading

Institutional Ownership by Quarter for Illumina (NASDAQ:ILMN)

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