Commonwealth Equity Services LLC cut its stake in Illumina, Inc. (NASDAQ:ILMN – Get Rating) by 10.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,471 shares of the life sciences company’s stock after selling 3,340 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Illumina were worth $5,241,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the stock. Macquarie Group Ltd. grew its position in Illumina by 24.0% during the third quarter. Macquarie Group Ltd. now owns 106,321 shares of the life sciences company’s stock worth $20,285,000 after buying an additional 20,582 shares in the last quarter. One Wealth Advisors LLC purchased a new position in shares of Illumina in the 3rd quarter worth about $210,000. Baader Bank Aktiengesellschaft boosted its holdings in shares of Illumina by 137.8% in the 3rd quarter. Baader Bank Aktiengesellschaft now owns 44,950 shares of the life sciences company’s stock worth $8,576,000 after purchasing an additional 26,050 shares in the last quarter. Allstate Corp boosted its holdings in shares of Illumina by 127.7% in the 3rd quarter. Allstate Corp now owns 6,017 shares of the life sciences company’s stock worth $1,148,000 after purchasing an additional 3,374 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. boosted its holdings in shares of Illumina by 21.4% in the 3rd quarter. Laurel Wealth Advisors Inc. now owns 3,796 shares of the life sciences company’s stock worth $724,000 after purchasing an additional 670 shares in the last quarter. 87.97% of the stock is currently owned by hedge funds and other institutional investors.
Illumina Stock Down 3.3 %
ILMN stock opened at $208.46 on Wednesday. Illumina, Inc. has a fifty-two week low of $173.45 and a fifty-two week high of $371.16. The business’s 50 day moving average price is $206.22 and its two-hundred day moving average price is $208.11. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.08 and a current ratio of 1.28. The company has a market capitalization of $32.94 billion, a price-to-earnings ratio of -7.45, a price-to-earnings-growth ratio of 8.06 and a beta of 1.15.
Insiders Place Their Bets
In related news, SVP Susan H. Tousi sold 500 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $211.57, for a total value of $105,785.00. Following the sale, the senior vice president now owns 38,276 shares in the company, valued at approximately $8,098,053.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Susan H. Tousi sold 500 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $211.57, for a total value of $105,785.00. Following the sale, the senior vice president now owns 38,276 shares in the company, valued at approximately $8,098,053.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Alexander Aravanis sold 5,398 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $201.74, for a total value of $1,088,992.52. Following the completion of the sale, the senior vice president now owns 2,922 shares in the company, valued at approximately $589,484.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,186 shares of company stock worth $2,255,837. Company insiders own 0.13% of the company’s stock.
Analyst Ratings Changes
A number of research firms have recently issued reports on ILMN. Canaccord Genuity Group cut their price objective on Illumina from $330.00 to $300.00 and set a “buy” rating for the company in a report on Tuesday, January 17th. SVB Leerink upped their price objective on Illumina from $249.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, February 8th. Cowen cut their price objective on Illumina from $350.00 to $296.00 in a report on Tuesday, January 10th. Argus lowered Illumina from a “buy” rating to a “hold” rating in a research note on Wednesday, January 25th. They noted that the move was a valuation call. Finally, Barclays lowered their target price on Illumina from $160.00 to $150.00 and set an “underweight” rating for the company in a research note on Wednesday, February 8th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Illumina currently has an average rating of “Hold” and an average price target of $249.55.
About Illumina
Illumina, Inc engages in the development, manufacturing, and marketing of life science tools and integrated systems for large-scale analysis of genetic variation and function. It operates through the Core Illumina segment, which serves customers in the research, clinical and applied markets fields, and enables the adoption of a variety of genomic solutions.
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