Bank of Montreal Can Has $13.48 Million Stock Holdings in Illumina, Inc. (NASDAQ:ILMN)

Bank of Montreal Can lowered its position in Illumina, Inc. (NASDAQ:ILMN) by 33.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 100,900 shares of the life sciences company’s stock after selling 50,354 shares during the quarter. Bank of Montreal Can’s holdings in Illumina were worth $13,483,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Golden State Wealth Management LLC bought a new position in shares of Illumina during the fourth quarter valued at $32,000. Versant Capital Management Inc increased its holdings in Illumina by 153.7% in the fourth quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock valued at $32,000 after purchasing an additional 146 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in Illumina during the 4th quarter worth $45,000. Assetmark Inc. lifted its holdings in Illumina by 954.8% during the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock worth $44,000 after buying an additional 296 shares during the period. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Illumina in the 4th quarter valued at about $48,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ILMN has been the topic of a number of recent analyst reports. TD Cowen lowered Illumina from a “buy” rating to a “hold” rating and cut their price objective for the stock from $177.00 to $140.00 in a research note on Friday, February 7th. Canaccord Genuity Group dropped their price target on shares of Illumina from $135.00 to $115.00 and set a “hold” rating on the stock in a research report on Tuesday, March 11th. HSBC lowered shares of Illumina from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Friday, February 28th. Guggenheim lowered their target price on shares of Illumina from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Finally, Hsbc Global Res cut shares of Illumina from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Illumina presently has an average rating of “Moderate Buy” and an average price target of $138.70.

Illumina Stock Performance

ILMN opened at $74.78 on Friday. The company has a market cap of $11.85 billion, a price-to-earnings ratio of -9.74, a PEG ratio of 1.60 and a beta of 1.38. The company’s fifty day moving average price is $88.58 and its two-hundred day moving average price is $122.32. Illumina, Inc. has a 1-year low of $68.70 and a 1-year high of $156.66. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63.

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

Illumina 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.