Bellevue Group AG Cuts Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Bellevue Group AG decreased its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 3.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 43,596 shares of the life sciences company’s stock after selling 1,397 shares during the period. Bellevue Group AG’s holdings in Illumina were worth $5,987,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Bamco Inc. NY increased its holdings in Illumina by 1.5% during the 1st quarter. Bamco Inc. NY now owns 272,364 shares of the life sciences company’s stock worth $37,401,000 after purchasing an additional 4,023 shares during the period. GUARDCAP ASSET MANAGEMENT Ltd increased its holdings in Illumina by 1.1% during the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 2,068,869 shares of the life sciences company’s stock worth $284,097,000 after purchasing an additional 22,067 shares during the period. Quadrature Capital Ltd purchased a new stake in Illumina during the 1st quarter worth about $6,026,000. Guardian Capital Advisors LP purchased a new stake in Illumina during the 1st quarter worth about $1,237,000. Finally, Canada Pension Plan Investment Board increased its holdings in Illumina by 154.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 279,351 shares of the life sciences company’s stock worth $38,360,000 after purchasing an additional 169,756 shares during the period. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ILMN shares. Royal Bank of Canada cut their price target on Illumina from $249.00 to $242.00 and set an “outperform” rating on the stock in a report on Monday, July 1st. Scotiabank lowered their price objective on Illumina from $185.00 to $176.00 and set a “sector outperform” rating for the company in a research report on Monday, May 6th. TD Cowen lowered their price objective on Illumina from $140.00 to $122.00 and set a “hold” rating for the company in a research report on Thursday, June 6th. Citigroup raised Illumina from a “neutral” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Wednesday, July 10th. Finally, Robert W. Baird upped their price objective on Illumina from $125.00 to $128.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $158.57.

Illumina Stock Performance

Shares of ILMN stock traded up $3.13 during trading hours on Friday, reaching $120.43. 1,467,725 shares of the company’s stock were exchanged, compared to its average volume of 1,755,526. The company has a market cap of $19.18 billion, a P/E ratio of -14.78 and a beta of 1.15. The company’s 50 day moving average is $109.87 and its two-hundred day moving average is $124.08. Illumina, Inc. has a 1 year low of $89.00 and a 1 year high of $195.64. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.36.

Illumina (NASDAQ:ILMN) last issued its earnings results on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 EPS. Equities research analysts anticipate that Illumina, Inc. will post 1.38 EPS for the current fiscal year.

Illumina Profile

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.