Douglas Lane & Associates LLC Sells 4,734 Shares of Illumina, Inc. (NASDAQ:ILMN)

Douglas Lane & Associates LLC reduced its holdings in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 290,053 shares of the life sciences company's stock after selling 4,734 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.18% of Illumina worth $23,013,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ILMN. Capital World Investors raised its position 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. Brown Advisory Inc. grew its holdings in shares of Illumina by 54,220.9% during the 4th quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company's stock worth $255,586,000 after acquiring an additional 1,909,118 shares during the period. Norges Bank bought a new stake in shares of Illumina in the 4th quarter worth approximately $228,714,000. Bessemer Group Inc. boosted its position in shares of Illumina by 32,837.5% in the 4th quarter. Bessemer Group Inc. now owns 1,348,131 shares of the life sciences company's stock worth $180,152,000 after purchasing an additional 1,344,038 shares in the last quarter. Finally, WCM Investment Management LLC lifted its position in Illumina by 26.6% in the 4th quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company's stock valued at $551,625,000 after acquiring an additional 867,673 shares in the last quarter. 89.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ILMN. Stephens restated an "overweight" rating and issued a $105.00 price objective on shares of Illumina in a research note on Tuesday, May 20th. JPMorgan Chase & Co. dropped their price target on Illumina from $120.00 to $85.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Barclays dropped their price target on Illumina from $100.00 to $77.00 and set an "underweight" rating for the company in a research report on Thursday, April 10th. Guggenheim dropped their price target on Illumina from $122.00 to $114.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, HSBC lowered Illumina from a "buy" rating to a "hold" rating and set a $100.00 price target for the company. in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $128.84.

Illumina Price Performance

Shares of Illumina stock traded down $0.27 during trading on Thursday, hitting $82.89. The stock had a trading volume of 684,099 shares, compared to its average volume of 2,312,124. The firm has a market cap of $13.12 billion, a P/E ratio of -10.81, a PEG ratio of 1.60 and a beta of 1.35. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $156.66. The business has a fifty day moving average of $77.75 and a two-hundred day moving average of $105.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Illumina's revenue was down 1.4% compared to the same quarter last year. On average, sell-side analysts expect that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Ankur Dhingra purchased 6,100 shares of Illumina stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the transaction, the chief financial officer now owns 24,906 shares of the company's stock, valued at approximately $2,022,616.26. The trade was a 32.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.60% of the company's stock.

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.