Illumina, Inc. (NASDAQ:ILMN) Shares Sold by Carmel Capital Partners LLC

Carmel Capital Partners LLC cut its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 79.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,853 shares of the life sciences company's stock after selling 10,931 shares during the quarter. Carmel Capital Partners LLC's holdings in Illumina were worth $226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Capital World Investors boosted its holdings in shares of Illumina by 408.6% during the 4th quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company's stock valued at $2,408,721,000 after buying an additional 14,481,232 shares in the last quarter. WCM Investment Management LLC lifted its holdings in shares of Illumina by 1.2% during the first quarter. WCM Investment Management LLC now owns 4,179,011 shares of the life sciences company's stock worth $334,321,000 after purchasing an additional 49,156 shares during the period. Brown Advisory Inc. raised its stake in shares of Illumina by 52.1% during the 1st quarter. Brown Advisory Inc. now owns 2,909,228 shares of the life sciences company's stock worth $230,818,000 after buying an additional 996,589 shares during the period. Norges Bank purchased a new stake in Illumina in the 4th quarter valued at $228,714,000. Finally, Northern Trust Corp raised its position in shares of Illumina by 26.9% during the 4th quarter. Northern Trust Corp now owns 1,652,935 shares of the life sciences company's stock worth $220,882,000 after acquiring an additional 349,878 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors.

Illumina Price Performance

Shares of NASDAQ:ILMN traded down $1.79 during trading on Friday, hitting $96.14. 1,888,348 shares of the company were exchanged, compared to its average volume of 2,159,170. The company has a market capitalization of $15.22 billion, a P/E ratio of -15.84, a price-to-earnings-growth ratio of 1.88 and a beta of 1.36. Illumina, Inc. has a 1-year low of $68.70 and a 1-year high of $156.66. The business's 50 day moving average is $89.22 and its 200-day moving average is $94.93. The company has a quick ratio of 1.48, a current ratio of 1.86 and a debt-to-equity ratio of 0.63.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its earnings results on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. Illumina had a negative net margin of 22.25% and a positive return on equity of 25.54%. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter last year, the firm earned $0.98 EPS. The company's quarterly revenue was down 1.4% compared to the same quarter last year. Equities analysts forecast that Illumina, Inc. will post 4.51 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ILMN shares. Canaccord Genuity Group upped their target price on Illumina from $87.00 to $99.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. JPMorgan Chase & Co. reduced their target price on Illumina from $120.00 to $85.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Piper Sandler lowered their target price on shares of Illumina from $190.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. Royal Bank Of Canada lowered their price target on Illumina from $128.00 to $112.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Finally, Citigroup downgraded Illumina from a "hold" rating to a "strong sell" rating and decreased their target price for the stock from $85.00 to $80.00 in a research report on Wednesday, July 9th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Illumina has an average rating of "Hold" and a consensus price target of $125.11.

Insider Activity at Illumina

In other news, CFO Ankur Dhingra acquired 6,100 shares of Illumina stock in a transaction dated Monday, May 12th. The stock was purchased at an average cost of $81.21 per share, with a total value of $495,381.00. Following the completion of the purchase, the chief financial officer directly owned 24,906 shares in the company, valued at approximately $2,022,616.26. This trade represents a 32.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is currently owned by insiders.

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.