Illumina, Inc. (NASDAQ:ILMN) Position Trimmed by Metis Global Partners LLC

Metis Global Partners LLC trimmed its stake in Illumina, Inc. (NASDAQ:ILMN) by 7.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,334 shares of the life sciences company’s stock after selling 492 shares during the quarter. Metis Global Partners LLC’s holdings in Illumina were worth $882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in ILMN. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Illumina during the third quarter valued at about $30,000. VisionPoint Advisory Group LLC lifted its position in shares of Illumina by 344.6% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 249 shares of the life sciences company’s stock worth $34,000 after acquiring an additional 193 shares during the period. Wetzel Investment Advisors Inc. acquired a new stake in shares of Illumina during the 4th quarter worth approximately $37,000. Gradient Investments LLC raised its stake in shares of Illumina by 375.0% in the fourth quarter. Gradient Investments LLC now owns 285 shares of the life sciences company’s stock valued at $40,000 after purchasing an additional 225 shares in the last quarter. Finally, North Star Investment Management Corp. lifted its position in Illumina by 183.0% in the fourth quarter. North Star Investment Management Corp. now owns 300 shares of the life sciences company’s stock worth $42,000 after purchasing an additional 194 shares during the period. 89.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ILMN has been the subject of a number of recent research reports. HSBC cut shares of Illumina from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Barclays increased their target price on Illumina from $85.00 to $100.00 and gave the stock an “underweight” rating in a report on Wednesday, April 10th. Scotiabank lowered their price target on Illumina from $185.00 to $176.00 and set a “sector outperform” rating on the stock in a research report on Monday. Stephens reissued an “overweight” rating and set a $170.00 price objective on shares of Illumina in a report on Tuesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $253.00 target price on shares of Illumina in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Illumina currently has a consensus rating of “Hold” and an average price target of $164.65.

Insider Buying and Selling at Illumina

In other Illumina news, CEO Jacob Thaysen bought 7,330 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was bought at an average price of $135.29 per share, for a total transaction of $991,675.70. Following the transaction, the chief executive officer now owns 14,861 shares of the company’s stock, valued at approximately $2,010,544.69. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

Illumina Stock Up 0.7 %

NASDAQ ILMN opened at $111.35 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 1.75. Illumina, Inc. has a 52 week low of $89.00 and a 52 week high of $213.91. The stock has a market capitalization of $17.74 billion, a P/E ratio of -13.66 and a beta of 1.20. The stock has a fifty day moving average of $128.53 and a 200-day moving average of $126.83.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.08 EPS. On average, equities research analysts forecast that Illumina, Inc. will post 0.91 EPS for the current 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.