Handelsbanken Fonder AB Has $7.01 Million Stake in Illumina, Inc. (NASDAQ:ILMN)

Handelsbanken Fonder AB decreased its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,332 shares of the life sciences company's stock after selling 3,998 shares during the period. Handelsbanken Fonder AB owned approximately 0.06% of Illumina worth $7,008,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ILMN. Fourth Dimension Wealth LLC acquired a new position in Illumina in the 4th quarter worth $40,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Illumina in the fourth quarter valued at about $45,000. Assetmark Inc. boosted its position in shares of Illumina by 954.8% during the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company's stock worth $44,000 after buying an additional 296 shares during the period. Lee Danner & Bass Inc. acquired a new position in shares of Illumina during the fourth quarter worth about $48,000. Finally, V Square Quantitative Management LLC grew its holdings in shares of Illumina by 50.6% during the fourth quarter. V Square Quantitative Management LLC now owns 393 shares of the life sciences company's stock worth $52,000 after buying an additional 132 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Stephens restated an "overweight" rating and issued a $105.00 target price on shares of Illumina in a research note on Tuesday, May 20th. Citigroup lowered their price objective on shares of Illumina from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Piper Sandler cut their price objective 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. JPMorgan Chase & Co. decreased their target price 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. Finally, Hsbc Global Res lowered shares of Illumina from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $126.94.

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 bought at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the completion of the acquisition, the chief financial officer now directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.60% of the stock is owned by company insiders.

Illumina Stock Performance

NASDAQ:ILMN traded down $1.20 on Friday, hitting $86.93. The company's stock had a trading volume of 1,612,726 shares, compared to its average volume of 2,278,240. Illumina, Inc. has a one year low of $68.70 and a one year high of $156.66. The firm has a market capitalization of $13.76 billion, a P/E ratio of -11.32, a price-to-earnings-growth ratio of 1.60 and a beta of 1.32. The stock has a fifty day moving average of $78.75 and a two-hundred day moving average of $103.31. The company has a current ratio of 1.77, a quick ratio of 1.42 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 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. 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 previous year, the firm earned $0.98 EPS. The firm's revenue was down 1.4% compared to the same quarter last year. Research analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current year.

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.