Nuance Investments LLC Lowers Holdings in Illumina, Inc. (NASDAQ:ILMN)

Nuance Investments LLC trimmed its holdings in Illumina, Inc. (NASDAQ:ILMN) by 0.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 384,421 shares of the life sciences company’s stock after selling 560 shares during the period. Illumina accounts for 1.2% of Nuance Investments LLC’s holdings, making the stock its 24th biggest holding. Nuance Investments LLC’s holdings in Illumina were worth $40,126,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Trivant Custom Portfolio Group LLC raised its position in shares of Illumina by 166.7% in the first quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock worth $27,000 after acquiring an additional 125 shares during the period. Versant Capital Management Inc raised its position in shares of Illumina by 292.9% in the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after acquiring an additional 246 shares during the period. Industrial Alliance Investment Management Inc. acquired a new position in shares of Illumina in the second quarter worth about $34,000. Massmutual Trust Co. FSB ADV raised its position in shares of Illumina by 86.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock worth $39,000 after acquiring an additional 132 shares during the period. Finally, Principal Securities Inc. acquired a new position in shares of Illumina in the fourth quarter worth about $51,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Trading Up 1.1 %

ILMN stock opened at $126.25 on Friday. The firm has a 50-day moving average of $122.94 and a two-hundred day moving average of $121.01. Illumina, Inc. has a 12 month low of $89.00 and a 12 month high of $154.77. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.24. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the company posted $0.32 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, equities research analysts expect that Illumina, Inc. will post 3.62 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on ILMN. Stephens reiterated an “overweight” rating and issued a $170.00 price objective on shares of Illumina in a research report on Wednesday, July 10th. Citigroup upped their price objective on shares of Illumina from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Scotiabank reduced their price target on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 15th. TD Cowen upgraded shares of Illumina from a “hold” rating to a “buy” rating and upped their price target for the stock from $126.00 to $144.00 in a research report on Wednesday, August 14th. Finally, Piper Sandler reduced their price target on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.05.

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.