Sectoral Asset Management Inc. trimmed its stake in shares of Illumina, Inc. (NASDAQ:ILMN – Free Report) by 2.2% in the first quarter, Holdings Channel.com reports. The fund owned 4,520 shares of the life sciences company’s stock after selling 100 shares during the quarter. Sectoral Asset Management Inc.’s holdings in Illumina were worth $1,051,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Elequin Securities LLC acquired a new position in Illumina in the fourth quarter valued at $29,000. HighMark Wealth Management LLC bought a new stake in shares of Illumina in the 1st quarter valued at $33,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Illumina during the 1st quarter valued at $33,000. Clearstead Trust LLC boosted its stake in Illumina by 125.7% during the first quarter. Clearstead Trust LLC now owns 158 shares of the life sciences company’s stock worth $37,000 after acquiring an additional 88 shares in the last quarter. Finally, BOKF NA bought a new position in shares of Illumina during the 1st quarter worth about $38,000. 92.17% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have recently issued reports on ILMN. Canaccord Genuity Group reduced their target price on shares of Illumina from $300.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, August 16th. StockNews.com assumed coverage on shares of Illumina in a report on Thursday, August 17th. They set a “hold” rating on the stock. Royal Bank of Canada cut their price objective on shares of Illumina from $337.00 to $328.00 and set an “outperform” rating for the company in a report on Tuesday, August 8th. Stifel Nicolaus decreased their price objective on Illumina from $265.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, August 10th. Finally, HSBC decreased their target price on shares of Illumina from $270.00 to $235.00 and set a “buy” rating on the stock in a report on Monday, August 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $236.05.
Insider Buying and Selling
In other Illumina news, SVP Susan H. Tousi sold 500 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $190.08, for a total transaction of $95,040.00. Following the completion of the transaction, the senior vice president now owns 46,022 shares of the company’s stock, valued at $8,747,861.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 1,500 shares of company stock valued at $278,560 over the last quarter. Corporate insiders own 0.13% of the company’s stock.
Illumina Trading Up 0.8 %
Shares of NASDAQ ILMN traded up $1.26 during trading hours on Wednesday, hitting $160.69. The company’s stock had a trading volume of 568,331 shares, compared to its average volume of 1,378,131. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.13 and a current ratio of 1.40. Illumina, Inc. has a 12 month low of $157.57 and a 12 month high of $248.87. The stock has a market cap of $25.44 billion, a price-to-earnings ratio of -5.99, a P/E/G ratio of 9.10 and a beta of 1.12. The business has a 50-day simple moving average of $179.65 and a 200-day simple moving average of $199.73.
Illumina (NASDAQ:ILMN – Get Free Report) last announced its earnings results on Wednesday, August 9th. The life sciences company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.30. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. Illumina had a negative net margin of 93.86% and a positive return on equity of 1.97%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 EPS. On average, analysts anticipate that Illumina, Inc. will post 0.83 earnings per share for the current fiscal year.
Illumina Company Profile
Illumina, Inc develops, manufactures, and markets life science tools and integrated systems for large-scale analysis of genetic variation and function. 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; and whole-genome sequencing kits, which sequence entire genomes of any size and complexity, and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.
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