Illumina, Inc. $ILMN Stock: Inscription Capital LLC Cuts Position

Inscription Capital LLC reduced its stake in Illumina, Inc. (NASDAQ:ILMN) by 54.4% during the third quarter, HoldingsChannel reports. The fund owned 4,890 shares of the life sciences company’s stock after selling 5,841 shares during the period. Inscription Capital LLC’s holdings in Illumina were worth $1,338,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Illumina in the second quarter worth $3,374,423,000. WCM Investment Management LLC increased its holdings in Illumina by 45.5% in the 1st quarter. WCM Investment Management LLC now owns 5,923,173 shares of the life sciences company’s stock worth $715,579,000 after buying an additional 1,851,848 shares in the last quarter. Primecap Management Co. CA bought a new stake in Illumina in the 2nd quarter worth about $617,981,000. Ninety One UK Ltd increased its holdings in Illumina by 37,920.0% in the 3rd quarter. Ninety One UK Ltd now owns 1,359,974 shares of the life sciences company’s stock worth $372,198,000 after buying an additional 1,356,397 shares in the last quarter. Finally, Jupiter Topco LLC purchased a new position in Illumina in the 2nd quarter worth about $358,652,000. 89.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ILMN has been the topic of a number of recent analyst reports. Barclays raised their price target on shares of Illumina from $160.00 to $200.00 and gave the company an “underweight” rating in a report on Wednesday, October 7th. TD Cowen upped their price objective on Illumina from $210.00 to $270.00 and gave the company a “hold” rating in a research report on Tuesday, October 13th. Royal Bank Of Canada increased their target price on Illumina from $230.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, October 5th. Citigroup increased their target price on Illumina from $113.00 to $210.00 and gave the company a “sell” rating in a report on Monday. Finally, Weiss Ratings raised Illumina from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $244.24.

Insider Activity

In related news, Director Keith Meister sold 299,336 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $217.96, for a total value of $65,243,274.56. Following the completion of the sale, the director directly owned 1,409,851 shares of the company’s stock, valued at approximately $307,291,123.96. This represents a 17.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 1,601,541 shares of company stock worth $354,755,291. Insiders own 2.90% of the company’s stock.

Illumina Price Performance

Shares of Illumina stock opened at $208.00 on Friday. The stock has a market cap of $31.45 billion, a P/E ratio of 43.15, a P/E/G ratio of 3.08 and a beta of 1.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.05 and a current ratio of 2.63. The stock’s fifty day moving average is $249.44 and its 200 day moving average is $177.79. Illumina, Inc. has a one year low of $112.65 and a one year high of $309.35.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Thursday, October 29th. The life sciences company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.26. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.15 billion. Illumina had a return on equity of 28.38% and a net margin of 19.72%. Illumina’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.34 earnings per share. Sell-side analysts anticipate that Illumina, Inc. will post 5.43 earnings per share for the current year.

Illumina Company Profile

Illumina, Inc is a biotechnology company that develops and manufactures genomics and genetic-analysis technologies. Its products are used to study DNA and RNA in applications including biomedical research, clinical testing, pharmaceutical development, reproductive health, oncology and population genomics.

The company’s offerings include next-generation sequencing systems, consumable flow cells and reagent kits, microarrays, and genomic data-analysis software. Its sequencing portfolio includes instruments such as the NovaSeq, NextSeq, MiSeq and iSeq platforms, while its informatics products include the DRAGEN platform, which supports the processing and interpretation of sequencing data.