Bayesian Capital Management LP Lowers Position in Illumina, Inc. (NASDAQ:ILMN)

Bayesian Capital Management LP reduced its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 86.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,800 shares of the life sciences company’s stock after selling 11,900 shares during the period. Bayesian Capital Management LP’s holdings in Illumina were worth $247,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. WCM Investment Management LLC raised its stake in shares of Illumina by 2,232.3% during the 1st quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock worth $463,760,000 after buying an additional 3,232,418 shares in the last quarter. Capital World Investors acquired a new stake in Illumina in the fourth quarter valued at $271,753,000. Norges Bank purchased a new stake in shares of Illumina during the 4th quarter worth $264,636,000. Coatue Management LLC acquired a new position in shares of Illumina during the 4th quarter worth $119,285,000. Finally, Findlay Park Partners LLP acquired a new position in shares of Illumina during the 1st quarter worth $100,120,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Price Performance

ILMN stock opened at $122.60 on Thursday. The stock’s fifty day simple moving average is $110.74 and its 200-day simple moving average is $123.82. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. Illumina, Inc. has a 52-week low of $89.00 and a 52-week high of $195.64. The stock has a market capitalization of $19.53 billion, a price-to-earnings ratio of -15.04 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last issued its earnings results on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the company posted $0.08 EPS. Equities research analysts expect that Illumina, Inc. will post 1.38 EPS for the current year.

Wall Street Analysts Forecast Growth

ILMN has been the topic of a number of research analyst reports. Evercore ISI decreased their price objective on shares of Illumina from $195.00 to $175.00 and set an “outperform” rating on the stock in a report on Tuesday, June 11th. Citigroup upgraded Illumina from a “neutral” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Wednesday, July 10th. TD Cowen reduced their price objective on Illumina from $140.00 to $122.00 and set a “hold” rating for the company in a report on Thursday, June 6th. Barclays upped their target price on Illumina from $85.00 to $100.00 and gave the company an “underweight” rating in a report on Wednesday, April 10th. Finally, Scotiabank dropped their price target on Illumina from $185.00 to $176.00 and set a “sector outperform” rating for the company in a research report on Monday, May 6th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $158.57.

About Illumina

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.