Illumina, Inc. $ILMN Shares Sold by Inscription Capital LLC

Key Points

• Inscription Capital cut its Illumina stake by 54.4% in the third quarter, selling 5,841 shares and retaining 4,890 shares valued at about $1.34 million.
• Analyst views were mixed: 10 rated the stock Buy, six Hold and three Sell, resulting in a consensus Hold rating and an average price target of $244.24.
• Illumina reported quarterly earnings of $1.62 per share, beating the $1.36 estimate, while revenue of $1.17 billion exceeded expectations and rose 4.2% year over year.

Inscription Capital LLC decreased its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 54.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 4,890 shares of the life sciences company's stock after selling 5,841 shares during the period. Inscription Capital LLC's holdings in Illumina were worth $1,338,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ILMN. BlackRock Inc. bought a new position in Illumina in the 2nd quarter valued at $3,374,423,000. Primecap Management Co. CA purchased a new stake in Illumina in the second quarter valued at approximately $617,981,000. Jupiter Topco LLC bought a new position in shares of Illumina in the 2nd quarter worth $358,652,000. WCM Investment Management LLC grew its position in Illumina by 45.5% in the first quarter. WCM Investment Management LLC now owns 5,923,173 shares of the life sciences company's stock worth $715,579,000 after acquiring an additional 1,851,848 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Illumina during the second quarter worth about $293,846,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ILMN shares. Leerink Partners boosted their target price on Illumina from $220.00 to $300.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 29th. Weiss Ratings raised shares of Illumina from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday. UBS Group upgraded Illumina from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $135.00 to $260.00 in a report on Wednesday, September 9th. Stifel Nicolaus boosted their target price on Illumina from $155.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft lowered Illumina to a "hold" rating in a research report on Wednesday, August 5th. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $244.24.

Illumina Price Performance

Shares of ILMN stock opened at $208.00 on Friday. The business's 50 day moving average price is $249.44 and its 200-day moving average price is $177.79. Illumina, Inc. has a fifty-two week low of $112.65 and a fifty-two week high of $309.35. The firm has a market cap of $31.45 billion, a P/E ratio of 43.15, a P/E/G ratio of 3.08 and a beta of 1.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.05 and a current ratio of 2.63.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The life sciences company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.26. The business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.15 billion. Illumina had a net margin of 19.72% and a return on equity of 28.38%. The firm's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.34 earnings per share. On average, equities research analysts anticipate that Illumina, Inc. will post 5.43 earnings per share for the current year.

Insider Activity

In other news, Director Keith Meister sold 299,336 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $217.96, for a total value of $65,243,274.56. Following the completion of the transaction, the director owned 1,409,851 shares in the company, valued at $307,291,123.96. This trade represents a 17.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 1,601,541 shares of company stock valued at $354,755,291. 2.90% of the stock is currently owned by corporate insiders.

About Illumina

Illumina, Inc is a biotechnology company that develops and manufactures genomics and genetic-analysis technologies. Its products are used to study DNA and RNA in applications including biomedical research, clinical testing, pharmaceutical development, reproductive health, oncology and population genomics.

The company's offerings include next-generation sequencing systems, consumable flow cells and reagent kits, microarrays, and genomic data-analysis software. Its sequencing portfolio includes instruments such as the NovaSeq, NextSeq, MiSeq and iSeq platforms, while its informatics products include the DRAGEN platform, which supports the processing and interpretation of sequencing data.

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