American International Group Inc. Trims Stock Holdings in Illumina, Inc. (NASDAQ:ILMN)

American International Group Inc. lowered its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,815 shares of the life sciences company’s stock after selling 706 shares during the period. American International Group Inc.’s holdings in Illumina were worth $7,253,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ILMN. Trivant Custom Portfolio Group LLC lifted its position in Illumina by 166.7% during the first quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock valued at $27,000 after purchasing an additional 125 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new position in Illumina during the 4th quarter valued at $37,000. Massmutual Trust Co. FSB ADV increased its position in Illumina by 86.8% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock valued at $39,000 after purchasing an additional 132 shares during the period. Gradient Investments LLC increased its position in Illumina by 375.0% during the 4th quarter. Gradient Investments LLC now owns 285 shares of the life sciences company’s stock valued at $40,000 after purchasing an additional 225 shares during the period. Finally, MeadowBrook Investment Advisors LLC purchased a new stake in shares of Illumina in the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Illumina Price Performance

ILMN opened at $117.30 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 1.75. The stock has a market capitalization of $18.69 billion, a P/E ratio of -14.39 and a beta of 1.15. The company’s 50-day simple moving average is $109.69 and its two-hundred day simple moving average is $124.39. Illumina, Inc. has a 52-week low of $89.00 and a 52-week high of $195.64.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the business earned $0.08 EPS. The business’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, analysts predict that Illumina, Inc. will post 1.38 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ILMN. Stephens reaffirmed an “overweight” rating and issued a $170.00 target price on shares of Illumina in a research report on Wednesday, July 10th. Evercore ISI reduced their target price on shares of Illumina from $195.00 to $175.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 11th. Robert W. Baird upped their target price on shares of Illumina from $125.00 to $128.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Barclays upped their target price on shares of Illumina from $85.00 to $100.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 10th. Finally, TD Cowen reduced their target price on shares of Illumina from $140.00 to $122.00 and set a “hold” rating on the stock in a research report on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $158.57.

About Illumina

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.