Bull Harbor Capital LLC Takes Position in Illumina, Inc. $ILMN

Key Points

• Bull Harbor Capital acquired 11,461 Illumina shares worth approximately $1.41 million in the first quarter. Institutional investors and hedge funds collectively own 89.42% of the company.
• Illumina reported quarterly earnings of $1.15 per share, beating estimates by $0.10, while revenue rose 4.8% year over year to $1.09 billion. Shares opened at $194.82, near their 52-week high of $199.14.
• Analyst sentiment remains mixed, with nine Buy, seven Hold, and two Sell ratings; the consensus rating is Hold with a $156.88 price target. Company insiders have sold more than 1 million shares worth approximately $155.7 million over the past three months.

Bull Harbor Capital LLC acquired a new stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,461 shares of the life sciences company's stock, valued at approximately $1,413,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elyxium Wealth LLC acquired a new position in Illumina in the 4th quarter valued at about $25,000. Creative Capital Management Investments LLC grew its stake in shares of Illumina by 160.0% in the 4th quarter. Creative Capital Management Investments LLC now owns 195 shares of the life sciences company's stock valued at $26,000 after buying an additional 120 shares during the period. TD Waterhouse Canada Inc. acquired a new stake in shares of Illumina during the 4th quarter worth approximately $26,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Illumina during the 4th quarter worth approximately $26,000. Finally, Activest Wealth Management raised its position in shares of Illumina by 671.9% during the 4th quarter. Activest Wealth Management now owns 247 shares of the life sciences company's stock valued at $32,000 after buying an additional 215 shares during the period. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Illumina Price Performance

Illumina stock opened at $194.82 on Thursday. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.56. Illumina, Inc. has a 52-week low of $88.00 and a 52-week high of $199.14. The firm has a market cap of $29.48 billion, a PE ratio of 35.42, a price-to-earnings-growth ratio of 2.85 and a beta of 1.47. The company's 50 day moving average is $174.28 and its two-hundred day moving average is $146.38.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The life sciences company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.05 by $0.10. Illumina had a net margin of 19.42% and a return on equity of 31.01%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the firm posted $0.97 earnings per share. The company's quarterly revenue was up 4.8% compared to the same quarter last year. On average, research analysts expect that Illumina, Inc. will post 5.22 EPS for the current fiscal year.

Insider Buying and Selling

In other Illumina news, insider Scott M. Davies sold 615 shares of the company's stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $180.00, for a total transaction of $110,700.00. Following the sale, the insider owned 20,953 shares in the company, valued at $3,771,540. This represents a 2.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Patricia Leckman sold 783 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $162.59, for a total value of $127,307.97. Following the completion of the sale, the senior vice president directly owned 21,259 shares in the company, valued at $3,456,500.81. This represents a 3.55% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,003,769 shares of company stock valued at $155,710,908 in the last three months. 2.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on ILMN shares. Weiss Ratings upgraded Illumina from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, June 3rd. Royal Bank Of Canada assumed coverage on Illumina in a research note on Thursday, May 14th. They set an "outperform" rating and a $170.00 target price for the company. TD Cowen restated a "hold" rating on shares of Illumina in a research report on Wednesday, July 15th. JPMorgan Chase & Co. raised Illumina from a "neutral" rating to an "overweight" rating and upped their price target for the company from $125.00 to $185.00 in a research note on Wednesday, June 10th. Finally, Wall Street Zen cut Illumina from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Nine analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Illumina has an average rating of "Hold" and a consensus target price of $156.88.

Illumina Company Profile

Illumina, Inc NASDAQ: ILMN is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company's product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.

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