DnB Asset Management AS Grows Stock Holdings in Illumina, Inc. (NASDAQ:ILMN)

DnB Asset Management AS increased its stake in Illumina, Inc. (NASDAQ:ILMNGet Rating) by 7.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,204 shares of the life sciences company’s stock after purchasing an additional 2,400 shares during the period. DnB Asset Management AS’s holdings in Illumina were worth $6,490,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Equitable Holdings Inc. purchased a new stake in shares of Illumina during the fourth quarter valued at $223,000. MAI Capital Management grew its holdings in shares of Illumina by 68.3% during the fourth quarter. MAI Capital Management now owns 986 shares of the life sciences company’s stock valued at $375,000 after buying an additional 400 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in shares of Illumina during the fourth quarter valued at $9,919,000. KRS Capital Management LLC purchased a new stake in shares of Illumina during the fourth quarter valued at $144,000. Finally, Axiom Advisory LLC purchased a new stake in shares of Illumina during the fourth quarter valued at $388,000. Hedge funds and other institutional investors own 86.12% of the company’s stock.

Insider Buying and Selling

In related news, SVP Alexander Aravanis sold 539 shares of the company’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $200.00, for a total transaction of $107,800.00. Following the completion of the transaction, the senior vice president now owns 3,346 shares in the company, valued at approximately $669,200. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

Illumina Trading Down 1.0 %

Shares of Illumina stock opened at $199.88 on Monday. The firm has a 50-day simple moving average of $206.02 and a two-hundred day simple moving average of $250.78. The company has a market cap of $31.40 billion, a P/E ratio of -3,330.78, a price-to-earnings-growth ratio of 2.29 and a beta of 1.16. Illumina, Inc. has a fifty-two week low of $173.45 and a fifty-two week high of $453.92. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.82 and a current ratio of 1.00.

Illumina (NASDAQ:ILMNGet Rating) last released its quarterly earnings results on Thursday, August 11th. The life sciences company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.06). Illumina had a positive return on equity of 5.61% and a negative net margin of 0.43%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the company earned $1.87 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities analysts predict that Illumina, Inc. will post 2.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ILMN has been the topic of a number of research analyst reports. Barclays dropped their price objective on shares of Illumina to $130.00 in a report on Monday, August 15th. Credit Suisse Group started coverage on shares of Illumina in a report on Wednesday, August 24th. They issued a “neutral” rating and a $230.00 price target on the stock. Cowen lowered their price target on shares of Illumina to $327.00 in a report on Monday, August 15th. Stifel Nicolaus lowered their price target on shares of Illumina from $480.00 to $300.00 and set a “buy” rating on the stock in a report on Friday, August 12th. Finally, Piper Sandler lowered their price target on shares of Illumina from $360.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, August 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $257.27.

Illumina Profile

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Illumina, Inc provides sequencing and array-based solutions for genetic and genomic analysis. Its products and services serve customers in a range of markets enabling the adoption of genomic solutions in research and clinical settings for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments.

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Institutional Ownership by Quarter for Illumina (NASDAQ:ILMN)

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