Pinnacle Associates Ltd. lessened its stake in Illumina, Inc. (NASDAQ:ILMN – Free Report) by 50.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 948 shares of the life sciences company’s stock after selling 957 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Illumina were worth $220,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Elequin Securities LLC purchased a new position in Illumina in the fourth quarter valued at $29,000. HighMark Wealth Management LLC acquired a new stake in Illumina in the first quarter valued at $33,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Illumina in the first quarter valued at $33,000. EverSource Wealth Advisors LLC raised its stake in Illumina by 64.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 194 shares of the life sciences company’s stock valued at $39,000 after buying an additional 76 shares in the last quarter. Finally, WFA of San Diego LLC acquired a new stake in Illumina in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 88.66% of the company’s stock.
Illumina Stock Down 0.2 %
ILMN stock opened at $187.22 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.16 and a current ratio of 1.42. The business has a fifty day simple moving average of $193.54 and a 200-day simple moving average of $206.00. Illumina, Inc. has a 52 week low of $179.03 and a 52 week high of $248.87.
Insider Buying and Selling
Analyst Upgrades and Downgrades
A number of analysts have weighed in on ILMN shares. Royal Bank of Canada raised their price target on Illumina from $300.00 to $337.00 and gave the company an “outperform” rating in a research note on Friday, April 14th. StockNews.com started coverage on Illumina in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Stifel Nicolaus lifted their target price on Illumina from $235.00 to $265.00 in a research report on Wednesday, April 26th. Finally, Robert W. Baird raised their price target on Illumina from $224.00 to $229.00 in a report on Wednesday, April 26th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $249.68.
Read Our Latest Report on ILMN
Illumina Company Profile
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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