Victory Capital Management Inc. Cuts Holdings in Illumina, Inc. (NASDAQ:ILMN)

Victory Capital Management Inc. decreased its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 5.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 126,375 shares of the life sciences company’s stock after selling 7,719 shares during the quarter. Victory Capital Management Inc. owned approximately 0.08% of Illumina worth $16,481,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Industrial Alliance Investment Management Inc. acquired a new position in shares of Illumina during the 2nd quarter worth about $34,000. Versant Capital Management Inc boosted its position in shares of Illumina by 292.9% during the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after acquiring an additional 246 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Illumina by 65.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after purchasing an additional 168 shares during the period. Focused Wealth Management Inc acquired a new stake in shares of Illumina in the 3rd quarter valued at about $63,000. Finally, Hollencrest Capital Management acquired a new stake in shares of Illumina in the 3rd quarter valued at about $63,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Illumina Stock Performance

NASDAQ ILMN opened at $135.00 on Wednesday. Illumina, Inc. has a 1-year low of $93.39 and a 1-year high of $156.66. The company has a market capitalization of $21.41 billion, a P/E ratio of -13.55 and a beta of 1.13. The business has a 50 day moving average price of $140.04 and a 200 day moving average price of $124.47. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.26. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. Illumina’s revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 earnings per share. Sell-side analysts expect that Illumina, Inc. will post 4.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ILMN has been the subject of a number of research analyst reports. UBS Group upped their target price on Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Scotiabank decreased their price objective on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 15th. Piper Sandler decreased their price objective on Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Argus raised Illumina from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. increased their price objective on Illumina from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.00.

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.