Acadian Asset Management LLC lowered its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 78.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,147 shares of the life sciences company’s stock after selling 8,016 shares during the quarter. Acadian Asset Management LLC’s holdings in Illumina were worth $790,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Illumina by 40.7% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,413 shares of the life sciences company’s stock worth $888,000 after acquiring an additional 698 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Illumina by 24.6% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 24,570 shares of the life sciences company’s stock worth $9,045,000 after purchasing an additional 4,856 shares during the period. Bridges Investment Management Inc. purchased a new position in shares of Illumina during the 2nd quarter worth approximately $218,000. Granite Investment Partners LLC purchased a new position in shares of Illumina during the 2nd quarter worth approximately $6,773,000. Finally, Premier Asset Management LLC boosted its position in shares of Illumina by 1.7% during the 2nd quarter. Premier Asset Management LLC now owns 36,039 shares of the life sciences company’s stock worth $13,267,000 after purchasing an additional 595 shares during the period. 90.92% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on ILMN shares. UBS Group increased their price objective on shares of Illumina from $350.00 to $355.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. ValuEngine upgraded shares of Illumina from a “hold” rating to a “buy” rating in a report on Thursday. Argus reduced their price objective on shares of Illumina to $340.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Cowen reduced their price objective on shares of Illumina from $380.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, July 12th. Finally, Piper Jaffray Companies reduced their price objective on shares of Illumina from $382.00 to $348.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. Illumina currently has an average rating of “Buy” and an average target price of $330.92.
Shares of NASDAQ ILMN traded up $3.39 during mid-day trading on Friday, reaching $300.91. The company had a trading volume of 1,261,318 shares, compared to its average volume of 951,429. The company has a current ratio of 6.79, a quick ratio of 6.10 and a debt-to-equity ratio of 0.42. The firm has a 50 day simple moving average of $287.45 and a two-hundred day simple moving average of $313.82. The stock has a market cap of $42.58 billion, a P/E ratio of 52.61, a PEG ratio of 2.70 and a beta of 1.09. Illumina, Inc. has a 52-week low of $263.30 and a 52-week high of $380.76.
Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Monday, July 29th. The life sciences company reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.03. Illumina had a net margin of 27.56% and a return on equity of 21.73%. The company had revenue of $838.00 million for the quarter, compared to the consensus estimate of $835.12 million. During the same period last year, the firm posted $1.43 EPS. Illumina’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts expect that Illumina, Inc. will post 6.05 EPS for the current year.
In other news, SVP Mostafa Ronaghi sold 10,000 shares of Illumina stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $349.28, for a total value of $3,492,800.00. Following the sale, the senior vice president now owns 65,994 shares of the company’s stock, valued at $23,050,384.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Francis A. Desouza sold 3,000 shares of Illumina stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $301.25, for a total transaction of $903,750.00. Following the completion of the sale, the chief executive officer now directly owns 64,200 shares in the company, valued at approximately $19,340,250. The disclosure for this sale can be found here. Insiders have sold a total of 56,198 shares of company stock worth $17,773,470 over the last three months. 0.38% of the stock is currently owned by insiders.
Illumina, Inc provides sequencing and array-based solutions for genetic analysis. The company operates in two segments, Core Illumina and Consolidated VIEs. It offers sequencing that provides researchers with various applications and the ability to sequence mammalian genomes; and arrays for a range of deoxyribonucleic acid and RNA analysis applications, including single nucleotide polymorphism genotyping, copy number variations analysis, gene expression analysis, and methylation analysis, as well as enables the detection of known genetic markers on a single array.
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