National Bank of Canada FI Reduces Position in Illumina, Inc. (NASDAQ:ILMN)

Posted by on Jun 27th, 2023

National Bank of Canada FI reduced its holdings in Illumina, Inc. (NASDAQ:ILMN – Get Rating) by 65.2% during the 1st quarter, Holdings Channel reports. The fund owned 26,210 shares of the life sciences company’s stock after selling 49,191 shares during the period. National Bank of Canada FI’s holdings in Illumina were worth $6,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in ILMN. Acadian Asset Management LLC boosted its holdings in shares of Illumina by 312.5% in the 1st quarter. Acadian Asset Management LLC now owns 2,013 shares of the life sciences company’s stock valued at $702,000 after acquiring an additional 1,525 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Illumina by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 237,118 shares of the life sciences company’s stock valued at $82,853,000 after acquiring an additional 7,114 shares during the last quarter. Dakota Wealth Management boosted its holdings in shares of Illumina by 13.8% in the 1st quarter. Dakota Wealth Management now owns 826 shares of the life sciences company’s stock valued at $288,000 after acquiring an additional 100 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Illumina by 16.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 803 shares of the life sciences company’s stock valued at $281,000 after acquiring an additional 116 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in shares of Illumina by 10.2% in the 1st quarter. Baird Financial Group Inc. now owns 48,943 shares of the life sciences company’s stock valued at $17,108,000 after acquiring an additional 4,548 shares during the last quarter. 88.66% of the stock is owned by hedge funds and other institutional investors.

Illumina Price Performance

Illumina stock opened at $191.88 on Tuesday. Illumina, Inc. has a 52-week low of $173.45 and a 52-week high of $248.87. The firm has a market capitalization of $30.34 billion, a price-to-earnings ratio of -6.73, a PEG ratio of 6.48 and a beta of 1.17. The company has a fifty day simple moving average of $205.31 and a 200-day simple moving average of $208.69. The company has a quick ratio of 1.16, a current ratio of 1.42 and a debt-to-equity ratio of 0.22.

Illumina (NASDAQ:ILMN – Get Rating) last announced its quarterly earnings data on Tuesday, April 25th. The life sciences company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.06. Illumina had a negative net margin of 100.92% and a positive return on equity of 2.26%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm posted $1.07 earnings per share. Illumina’s quarterly revenue was down 11.1% on a year-over-year basis. On average, equities analysts anticipate that Illumina, Inc. will post 1.4 EPS for the current fiscal year.

Insider Activity at Illumina

In related news, SVP Susan H. Tousi sold 500 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $200.00, for a total value of $100,000.00. Following the completion of the sale, the senior vice president now owns 46,522 shares of the company’s stock, valued at $9,304,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Illumina from $235.00 to $265.00 in a research note on Wednesday, April 26th. StockNews.com assumed coverage on shares of Illumina in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Robert W. Baird boosted their target price on shares of Illumina from $224.00 to $229.00 in a research note on Wednesday, April 26th. Finally, Royal Bank of Canada boosted their target price on shares of Illumina from $300.00 to $337.00 and gave the company an “outperform” rating in a research note on Friday, April 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $253.70.

About Illumina

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Illumina, Inc develops, manufactures, and markets life science tools and integrated systems for large-scale analysis of genetic variation and function. 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; and whole-genome sequencing kits, which sequence entire genomes of any size and complexity, and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.

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Institutional Ownership by Quarter for Illumina (NASDAQ:ILMN)

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