Evermay Wealth Management LLC Reduces Stock Holdings in Illumina, Inc. (NASDAQ:ILMN)

Evermay Wealth Management LLC cut its holdings in Illumina, Inc. (NASDAQ:ILMN) by 11.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 945 shares of the life sciences company’s stock after selling 126 shares during the quarter. Evermay Wealth Management LLC’s holdings in Illumina were worth $99,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Illumina by 426.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,460 shares of the life sciences company’s stock valued at $2,123,000 after buying an additional 12,521 shares during the last quarter. Findlay Park Partners LLP acquired a new position in shares of Illumina in the first quarter valued at about $100,120,000. Jupiter Asset Management Ltd. purchased a new position in shares of Illumina in the first quarter worth about $4,527,000. Norges Bank purchased a new position in shares of Illumina in the fourth quarter worth about $264,636,000. Finally, US Bancorp DE lifted its holdings in shares of Illumina by 33.9% during the first quarter. US Bancorp DE now owns 31,600 shares of the life sciences company’s stock worth $4,339,000 after purchasing an additional 8,001 shares during the period. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Trading Up 0.3 %

NASDAQ ILMN traded up $0.43 during trading hours on Tuesday, reaching $131.83. The company had a trading volume of 213,341 shares, compared to its average volume of 2,068,416. Illumina, Inc. has a 1-year low of $89.00 and a 1-year high of $167.79. The stock has a market capitalization of $21.00 billion, a P/E ratio of -16.12 and a beta of 1.15. The stock has a 50-day moving average of $119.69 and a 200 day moving average of $121.46. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04.

Illumina (NASDAQ:ILMN) last posted its 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. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. Illumina’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. As a group, research analysts anticipate that Illumina, Inc. will post 3.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ILMN shares. Argus upgraded Illumina from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Wednesday, August 28th. Evercore ISI lowered their price objective on Illumina from $195.00 to $175.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 11th. Daiwa Capital Markets raised shares of Illumina from a “neutral” rating to a “buy” rating and lifted their target price for the company from $120.00 to $154.00 in a report on Friday, August 16th. Robert W. Baird increased their price target on shares of Illumina from $119.00 to $124.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $242.00 price objective on shares of Illumina in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Illumina presently has a consensus rating of “Moderate Buy” and an average price target of $151.05.

Illumina Company 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.