Park Avenue Securities LLC Sells 2,967 Shares of Illumina, Inc. (NASDAQ:ILMN)

Park Avenue Securities LLC decreased its position in Illumina, Inc. (NASDAQ:ILMN) by 32.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,038 shares of the life sciences company’s stock after selling 2,967 shares during the quarter. Park Avenue Securities LLC’s holdings in Illumina were worth $479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Bank of Stockton grew its holdings in shares of Illumina by 3.8% in the fourth quarter. Bank of Stockton now owns 2,162 shares of the life sciences company’s stock valued at $289,000 after purchasing an additional 80 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Illumina by 19.1% in the 4th quarter. IFP Advisors Inc now owns 617 shares of the life sciences company’s stock worth $82,000 after buying an additional 99 shares during the last quarter. Freedom Investment Management Inc. raised its position in shares of Illumina by 3.7% during the 4th quarter. Freedom Investment Management Inc. now owns 2,856 shares of the life sciences company’s stock valued at $382,000 after buying an additional 101 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in shares of Illumina by 8.2% during the 4th quarter. Concurrent Investment Advisors LLC now owns 1,731 shares of the life sciences company’s stock valued at $231,000 after buying an additional 131 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its holdings in shares of Illumina by 50.6% in the 4th quarter. V Square Quantitative Management LLC now owns 393 shares of the life sciences company’s stock valued at $52,000 after acquiring an additional 132 shares during the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Price Performance

Shares of ILMN stock opened at $86.93 on Friday. The company has a market capitalization of $13.76 billion, a P/E ratio of -11.32, a P/E/G ratio of 1.60 and a beta of 1.32. The company’s 50-day simple moving average is $79.08 and its two-hundred day simple moving average is $102.64. Illumina, Inc. has a one year low of $68.70 and a one year high of $156.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. Illumina’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 earnings per share. As a group, equities analysts anticipate that Illumina, Inc. will post 4.51 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ILMN. Citigroup reduced their price objective on Illumina from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Barclays decreased their price target on Illumina from $100.00 to $77.00 and set an “underweight” rating on the stock in a report on Thursday, April 10th. Robert W. Baird lowered their price target on Illumina from $127.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Morgan Stanley cut their price objective on shares of Illumina from $136.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Monday, May 12th. Finally, Piper Sandler lowered their target price on shares of Illumina from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $126.94.

Insider Transactions at Illumina

In other news, CFO Ankur Dhingra acquired 6,100 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the completion of the acquisition, the chief financial officer now directly owns 24,906 shares of the company’s stock, valued at $2,022,616.26. The trade was a 32.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.60% of the company’s stock.

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.