AdvisorNet Financial Inc lowered its stake in Illumina, Inc. (NASDAQ:ILMN – Get Rating) by 49.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,396 shares of the life sciences company’s stock after selling 1,392 shares during the quarter. AdvisorNet Financial Inc’s holdings in Illumina were worth $257,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in ILMN. Equitable Holdings Inc. bought a new position in Illumina in the 4th quarter worth about $223,000. MAI Capital Management boosted its stake in Illumina by 68.3% in the 4th quarter. MAI Capital Management now owns 986 shares of the life sciences company’s stock worth $375,000 after purchasing an additional 400 shares during the period. Alberta Investment Management Corp bought a new position in Illumina in the 4th quarter worth about $9,919,000. KRS Capital Management LLC bought a new position in Illumina in the 4th quarter worth about $144,000. Finally, American International Group Inc. raised its holdings in shares of Illumina by 5.1% in the 4th quarter. American International Group Inc. now owns 60,146 shares of the life sciences company’s stock valued at $22,882,000 after acquiring an additional 2,903 shares in the last quarter. Institutional investors own 86.12% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the company. Piper Sandler lowered their price target on Illumina from $360.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, August 12th. Stifel Nicolaus lowered their price target on Illumina from $480.00 to $300.00 and set a “buy” rating on the stock in a report on Friday, August 12th. Credit Suisse Group assumed coverage on Illumina in a report on Wednesday, August 24th. They issued a “neutral” rating and a $230.00 price target on the stock. UBS Group lowered their price target on Illumina from $350.00 to $245.00 and set a “neutral” rating on the stock in a report on Wednesday, August 17th. Finally, Cowen lowered their price target on Illumina to $327.00 in a report on Monday, August 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $257.27.
Insider Buying and Selling
Illumina Price Performance
ILMN opened at $198.81 on Tuesday. The stock’s 50 day simple moving average is $206.02 and its 200 day simple moving average is $250.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.00 and a quick ratio of 0.82. Illumina, Inc. has a 1 year low of $173.45 and a 1 year high of $449.99. The firm has a market cap of $31.23 billion, a price-to-earnings ratio of -3,312.95, a PEG ratio of 2.29 and a beta of 1.16.
Illumina (NASDAQ:ILMN – Get Rating) last posted its quarterly earnings results on Thursday, August 11th. The life sciences company reported $0.57 earnings per share (EPS) 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 the consensus estimate of $1.22 billion. During the same quarter in the previous year, the business earned $1.87 earnings per share. Illumina’s revenue was up 3.2% compared to the same quarter last year. As a group, analysts predict that Illumina, Inc. will post 2.81 earnings per share for the current year.
Illumina Company Profile
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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