Illumina, Inc. (NASDAQ:ILMN) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC decreased its stake in Illumina, Inc. (NASDAQ:ILMN) by 8.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,372 shares of the life sciences company’s stock after selling 814 shares during the period. Park Avenue Securities LLC’s holdings in Illumina were worth $1,092,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ILMN. Primecap Management Co. CA boosted its stake in Illumina by 462.5% in the second quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock valued at $253,514,000 after acquiring an additional 1,997,010 shares in the last quarter. Millennium Management LLC grew its stake in Illumina by 305.0% during the 2nd quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock worth $155,067,000 after buying an additional 1,118,747 shares during the last quarter. Coatue Management LLC acquired a new position in Illumina during the fourth quarter worth approximately $119,285,000. Capital World Investors lifted its stake in Illumina by 41.1% in the first quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company’s stock valued at $378,111,000 after buying an additional 801,814 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Illumina in the second quarter valued at approximately $77,628,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Illumina from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Scotiabank lowered their price target on Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 15th. Stephens reaffirmed an “overweight” rating and set a $170.00 price objective on shares of Illumina in a research note on Wednesday, July 10th. Daiwa Capital Markets raised Illumina from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $120.00 to $154.00 in a research report on Friday, August 16th. Finally, Evercore ISI cut their price target on Illumina from $195.00 to $175.00 and set an “outperform” rating for the company in a research note on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.05.

Illumina Stock Performance

NASDAQ ILMN opened at $139.66 on Wednesday. The business has a 50 day moving average price of $128.52 and a 200 day moving average price of $120.45. The company has a market capitalization of $22.25 billion, a P/E ratio of -17.14 and a beta of 1.15. Illumina, Inc. has a 1-year low of $89.00 and a 1-year high of $148.19. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.24. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the company posted $0.32 EPS. The business’s revenue was down 5.4% on a year-over-year basis. Sell-side analysts expect that Illumina, Inc. will post 3.63 EPS for the current fiscal year.

Illumina Profile

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. 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; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.