Envestnet Asset Management Inc. Sells 34,020 Shares of Illumina, Inc. (NASDAQ:ILMN)

Envestnet Asset Management Inc. lowered its holdings in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 9.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 314,823 shares of the life sciences company's stock after selling 34,020 shares during the quarter. Envestnet Asset Management Inc. owned 0.20% of Illumina worth $24,978,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Freedom Investment Management Inc. boosted its position in Illumina by 3.7% in the fourth quarter. Freedom Investment Management Inc. now owns 2,856 shares of the life sciences company's stock valued at $382,000 after buying an additional 101 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Illumina by 16.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,108 shares of the life sciences company's stock valued at $148,000 after buying an additional 156 shares in the last quarter. Signaturefd LLC boosted its position in Illumina by 10.4% in the fourth quarter. Signaturefd LLC now owns 1,880 shares of the life sciences company's stock valued at $251,000 after buying an additional 177 shares in the last quarter. Probity Advisors Inc. boosted its position in Illumina by 12.2% in the fourth quarter. Probity Advisors Inc. now owns 2,054 shares of the life sciences company's stock valued at $274,000 after buying an additional 224 shares in the last quarter. Finally, Rakuten Securities Inc. boosted its position in Illumina by 290.3% in the first quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company's stock valued at $29,000 after buying an additional 270 shares in the last quarter. Institutional investors own 89.42% of the company's stock.

Illumina Trading Up 0.9%

NASDAQ ILMN traded up $0.86 during trading hours on Thursday, hitting $97.82. The company's stock had a trading volume of 969,957 shares, compared to its average volume of 2,150,193. The stock has a fifty day moving average of $88.45 and a 200 day moving average of $95.70. Illumina, Inc. has a twelve month low of $68.70 and a twelve month high of $156.66. The firm has a market capitalization of $15.48 billion, a P/E ratio of -16.08, a PEG ratio of 1.91 and a beta of 1.36. 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 announced its quarterly earnings data on Thursday, May 8th. The life sciences company reported $0.97 earnings per share for the quarter, beating 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 business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business posted $0.98 earnings per share. Illumina's revenue was down 1.4% compared to the same quarter last year. Equities research analysts forecast that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Ankur Dhingra bought 6,100 shares of the stock in a transaction on Monday, May 12th. The stock was purchased at an average price of $81.21 per share, with a total value of $495,381.00. Following the completion of the purchase, the chief financial officer owned 24,906 shares of the company's stock, valued at approximately $2,022,616.26. This trade represents a 32.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Royal Bank Of Canada reduced their price target on shares of Illumina from $128.00 to $112.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Canaccord Genuity Group boosted their price target on shares of Illumina from $87.00 to $99.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Evercore ISI boosted their price target on shares of Illumina from $116.00 to $128.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Scotiabank lowered shares of Illumina from a "sector outperform" rating to a "sector perform" rating and set a $125.00 price target on the stock. in a research report on Friday, July 11th. Finally, Guggenheim reduced their price target on shares of Illumina from $122.00 to $114.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $125.11.

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.