Envestnet Portfolio Solutions Inc. Sells 3,605 Shares of Illumina, Inc. (NASDAQ:ILMN)

Envestnet Portfolio Solutions Inc. decreased its holdings in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 23.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,975 shares of the life sciences company's stock after selling 3,605 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Illumina were worth $950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital World Investors raised its holdings in 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 acquiring an additional 14,481,232 shares during the period. Bank of New York Mellon Corp raised its holdings in Illumina by 0.8% during the 4th quarter. Bank of New York Mellon Corp now owns 3,402,057 shares of the life sciences company's stock valued at $454,617,000 after acquiring an additional 27,618 shares during the period. Brown Advisory Inc. raised its holdings in 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 valued at $255,586,000 after acquiring an additional 1,909,118 shares during the period. Norges Bank bought a new stake in Illumina during the 4th quarter valued at $228,714,000. Finally, Northern Trust Corp raised its holdings in Illumina by 26.9% during the 4th quarter. Northern Trust Corp now owns 1,652,935 shares of the life sciences company's stock valued at $220,882,000 after acquiring an additional 349,878 shares during the period. Institutional investors own 89.42% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ILMN. Hsbc Global Res cut shares of Illumina from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th. Barclays boosted their price target on shares of Illumina from $77.00 to $85.00 and gave the company an "underweight" rating in a research report on Tuesday. Robert W. Baird reduced their price target on shares of Illumina from $127.00 to $90.00 and set a "neutral" rating for the company in a research report on Wednesday, March 5th. Guggenheim reduced their price target on shares of Illumina from $122.00 to $114.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Illumina from $120.00 to $85.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Illumina currently has an average rating of "Moderate Buy" and a consensus target price of $127.39.

Illumina Trading Up 1.9%

NASDAQ ILMN traded up $1.71 during trading on Wednesday, hitting $93.23. 3,687,909 shares of the company's stock traded hands, compared to its average volume of 2,144,766. The stock has a fifty day moving average of $81.76 and a two-hundred day moving average of $100.05. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.86 and a quick ratio of 1.48. Illumina, Inc. has a 12-month low of $68.70 and a 12-month high of $156.66. The firm has a market cap of $14.76 billion, a P/E ratio of -15.36, a PEG ratio of 1.80 and a beta of 1.32.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) 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 during 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. The company's revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts expect that Illumina, Inc. will post 4.51 EPS for the current year.

Insider Buying and Selling at Illumina

In other news, CFO Ankur Dhingra acquired 6,100 shares of the 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 now owns 24,906 shares in the company, valued at approximately $2,022,616.26. The trade was a 32.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.60% of the company's stock.

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.