Cannell & Spears LLC Has $88.79 Million Stake in Illumina, Inc. (NASDAQ:ILMN)

Cannell & Spears LLC boosted its position in Illumina, Inc. (NASDAQ:ILMN) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 664,473 shares of the life sciences company’s stock after acquiring an additional 24,716 shares during the period. Illumina accounts for 1.8% of Cannell & Spears LLC’s portfolio, making the stock its 7th largest position. Cannell & Spears LLC owned 0.42% of Illumina worth $88,794,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ILMN shares. Guggenheim reduced their price target on Illumina from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Citigroup reduced their target price on Illumina from $130.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Morgan Stanley lowered their price target on Illumina from $150.00 to $136.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. Stephens reissued an “overweight” rating and set a $156.00 price objective on shares of Illumina in a research note on Tuesday, March 11th. Finally, TD Cowen downgraded shares of Illumina from a “buy” rating to a “hold” rating and lowered their target price for the company from $177.00 to $140.00 in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.90.

Illumina Stock Performance

Shares of ILMN opened at $80.00 on Monday. The stock has a market capitalization of $12.67 billion, a price-to-earnings ratio of -10.42, a PEG ratio of 1.60 and a beta of 1.17. Illumina, Inc. has a 12 month low of $79.30 and a 12 month high of $156.66. The firm has a fifty day simple moving average of $102.80 and a 200 day simple moving average of $126.82. 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 posted its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. Research analysts forecast that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

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.