Commonwealth Equity Services LLC Trims Stake in Illumina, Inc. (NASDAQ:ILMN)

Posted by on Mar 8th, 2023

Commonwealth Equity Services LLC decreased its position in shares of Illumina, Inc. (NASDAQ:ILMN – Get Rating) by 10.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 27,471 shares of the life sciences company’s stock after selling 3,340 shares during the period. Commonwealth Equity Services LLC’s holdings in Illumina were worth $5,241,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Polen Capital Management LLC grew its stake in shares of Illumina by 62.0% in the 3rd quarter. Polen Capital Management LLC now owns 4,521,397 shares of the life sciences company’s stock worth $862,637,000 after buying an additional 1,731,169 shares during the last quarter. Veritas Asset Management LLP grew its stake in shares of Illumina by 1.8% in the 3rd quarter. Veritas Asset Management LLP now owns 1,591,247 shares of the life sciences company’s stock worth $303,594,000 after buying an additional 27,792 shares during the last quarter. GUARDCAP ASSET MANAGEMENT Ltd grew its stake in shares of Illumina by 1.1% in the 2nd quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 1,379,847 shares of the life sciences company’s stock worth $254,389,000 after buying an additional 14,900 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Illumina by 4.3% in the 2nd quarter. Legal & General Group Plc now owns 1,297,650 shares of the life sciences company’s stock worth $239,235,000 after buying an additional 53,053 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in Illumina by 7.4% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 859,354 shares of the life sciences company’s stock valued at $158,431,000 after purchasing an additional 59,040 shares during the last quarter. Hedge funds and other institutional investors own 87.97% of the company’s stock.

Analyst Upgrades and Downgrades

ILMN has been the topic of several recent analyst reports. Royal Bank of Canada increased their target price on Illumina from $284.00 to $303.00 and gave the company an “outperform” rating in a research note on Wednesday, February 8th. SVB Leerink increased their target price on Illumina from $249.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, February 8th. StockNews.com cut Illumina from a “hold” rating to a “sell” rating in a report on Wednesday, February 8th. Bank of America increased their price target on Illumina from $210.00 to $230.00 in a report on Wednesday, February 8th. Finally, UBS Group lowered their price target on Illumina from $255.00 to $240.00 and set a “neutral” rating on the stock in a report on Tuesday, February 14th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Illumina has an average rating of “Hold” and a consensus price target of $249.55.

Insider Buying and Selling at Illumina

In other news, SVP Susan H. Tousi sold 500 shares of the firm’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $204.58, for a total transaction of $102,290.00. Following the completion of the transaction, the senior vice president now owns 38,662 shares in the company, valued at $7,909,471.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Aimee L. Hoyt sold 871 shares of the firm’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $205.57, for a total transaction of $179,051.47. Following the completion of the transaction, the senior vice president now owns 2,796 shares in the company, valued at $574,773.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Susan H. Tousi sold 500 shares of the firm’s stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $204.58, for a total value of $102,290.00. Following the transaction, the senior vice president now owns 38,662 shares of the company’s stock, valued at approximately $7,909,471.96. The disclosure for this sale can be found here. Insiders have sold a total of 11,186 shares of company stock valued at $2,255,837 over the last ninety days. 0.13% of the stock is currently owned by company insiders.

Illumina Price Performance

NASDAQ:ILMN opened at $208.46 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.28 and a debt-to-equity ratio of 0.23. The business’s 50-day simple moving average is $206.22 and its two-hundred day simple moving average is $208.11. The stock has a market cap of $32.94 billion, a PE ratio of -7.45, a P/E/G ratio of 8.06 and a beta of 1.15. Illumina, Inc. has a 52 week low of $173.45 and a 52 week high of $371.16.

Illumina (NASDAQ:ILMN – Get Rating) last posted its quarterly earnings results on Tuesday, February 7th. The life sciences company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.11). The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. Illumina had a negative net margin of 96.12% and a positive return on equity of 3.79%. Illumina’s revenue was down 9.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 earnings per share. As a group, analysts forecast that Illumina, Inc. will post 1.41 EPS for the current fiscal year.

About Illumina

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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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Institutional Ownership by Quarter for Illumina (NASDAQ:ILMN)

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