Kornitzer Capital Management Inc. KS Sells 4,142 Shares of Illumina, Inc. (NASDAQ:ILMN)

Kornitzer Capital Management Inc. KS reduced its position in Illumina, Inc. (NASDAQ:ILMN) by 7.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,432 shares of the life sciences company’s stock after selling 4,142 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Illumina were worth $5,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. WCM Investment Management LLC lifted its holdings in Illumina by 2,232.3% in 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 purchasing an additional 3,232,418 shares in the last quarter. Capital World Investors bought a new position in shares of Illumina during the fourth quarter worth $271,753,000. Norges Bank purchased a new position in Illumina during the fourth quarter valued at $264,636,000. Coatue Management LLC bought a new stake in shares of Illumina in the fourth quarter worth about $119,285,000. Finally, Findlay Park Partners LLP bought a new stake in Illumina in the 1st quarter worth approximately $100,120,000. 89.42% of the stock is currently owned by institutional investors.

Illumina Stock Up 0.9 %

NASDAQ:ILMN opened at $129.76 on Friday. The firm has a market capitalization of $20.67 billion, a P/E ratio of -15.92 and a beta of 1.15. The company’s fifty day moving average price is $121.02 and its 200-day moving average price is $121.47. Illumina, Inc. has a 1-year low of $89.00 and a 1-year high of $162.32. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.24. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the firm earned $0.32 EPS. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Illumina, Inc. will post 3.89 EPS for the current year.

Wall Street Analysts Forecast Growth

ILMN has been the subject of several research reports. Daiwa Capital Markets upgraded shares of Illumina from a “neutral” rating to a “buy” rating and increased their price objective for the company from $120.00 to $154.00 in a research report on Friday, August 16th. Robert W. Baird increased their price target on Illumina from $119.00 to $124.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. TD Cowen upgraded shares of Illumina from a “hold” rating to a “buy” rating and boosted their price objective for the company from $126.00 to $144.00 in a research report on Wednesday, August 14th. Scotiabank lowered their target price on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a report on Thursday, August 15th. Finally, Evercore ISI reduced their price objective on shares of Illumina from $195.00 to $175.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Illumina presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.05.

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.