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

Posted by Defense World Staff on Sep 5th, 2023

Commonwealth Equity Services LLC lowered its position in shares of Illumina, Inc. (NASDAQ:ILMN – Free Report) by 33.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,259 shares of the life sciences company’s stock after selling 7,211 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Illumina were worth $3,315,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ILMN. Polen Capital Management LLC raised its position in Illumina by 11.7% in the fourth quarter. Polen Capital Management LLC now owns 5,048,402 shares of the life sciences company’s stock worth $1,020,787,000 after acquiring an additional 527,005 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Illumina by 145.8% in the 4th quarter. Alliancebernstein L.P. now owns 3,869,403 shares of the life sciences company’s stock worth $782,393,000 after purchasing an additional 2,294,942 shares during the period. Geode Capital Management LLC lifted its stake in Illumina by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 2,873,375 shares of the life sciences company’s stock valued at $579,813,000 after purchasing an additional 58,652 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Illumina by 268.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,113,230 shares of the life sciences company’s stock valued at $427,295,000 after purchasing an additional 1,539,186 shares during the period. Finally, Select Equity Group L.P. grew its holdings in Illumina by 22.5% during the fourth quarter. Select Equity Group L.P. now owns 1,912,714 shares of the life sciences company’s stock valued at $386,751,000 after purchasing an additional 351,701 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Illumina Stock Performance

NASDAQ ILMN opened at $168.46 on Tuesday. The firm has a market cap of $26.67 billion, a price-to-earnings ratio of -6.33, a PEG ratio of 9.10 and a beta of 1.12. The company has a 50-day simple moving average of $180.13 and a two-hundred day simple moving average of $200.10. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.23. Illumina, Inc. has a 12-month low of $157.82 and a 12-month high of $248.87.

Illumina (NASDAQ:ILMN – Get Free Report) last posted its quarterly earnings results on Wednesday, August 9th. The life sciences company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.30. Illumina had a positive return on equity of 1.97% and a negative net margin of 93.86%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company earned $0.57 EPS. Illumina’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities analysts forecast that Illumina, Inc. will post 0.83 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on ILMN shares. UBS Group dropped their price target on Illumina from $240.00 to $230.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 8th. Evercore ISI reissued an “outperform” rating and issued a $240.00 price target on shares of Illumina in a report on Friday. Stifel Nicolaus decreased their price target on shares of Illumina from $265.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, August 10th. StockNews.com started coverage on Illumina in a research note on Thursday, August 17th. They set a “hold” rating for the company. Finally, Canaccord Genuity Group decreased their target price on Illumina from $300.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, August 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $236.05.

Read Our Latest Stock Report on Illumina

Insider Activity at Illumina

In other Illumina news, SVP Susan H. Tousi sold 500 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $190.08, for a total value of $95,040.00. Following the transaction, the senior vice president now owns 46,022 shares in the company, valued at $8,747,861.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 1,500 shares of company stock worth $278,560 in the last three months. 0.13% of the stock is owned by insiders.

Illumina Profile

(Free Report)

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.