Illumina, Inc. $ILMN Shares Sold by Oregon Public Employees Retirement Fund

Key Points

• Oregon Public Employees Retirement Fund cut its Illumina stake by 40.5% in the third quarter, selling 12,667 shares and retaining 18,600 shares worth about $5.09 million.
• Illumina beat quarterly estimates, reporting adjusted earnings of $1.62 per share and revenue of $1.17 billion; revenue rose 4.2% year over year.
• Analysts’ consensus rating was Hold, with an average price target of $244.24. Shares opened at $208 after the article reported an 8.2% decline.

Oregon Public Employees Retirement Fund cut its holdings in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 40.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,600 shares of the life sciences company's stock after selling 12,667 shares during the quarter. Oregon Public Employees Retirement Fund's holdings in Illumina were worth $5,090,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ILMN. Fiduciary Financial Advisors bought a new stake in Illumina in the second quarter worth approximately $26,000. MCF Advisors LLC increased its stake in shares of Illumina by 172.4% during the 2nd quarter. MCF Advisors LLC now owns 158 shares of the life sciences company's stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Keating Financial Advisory Services Inc. bought a new position in shares of Illumina during the 2nd quarter valued at $32,000. Rakuten Securities Inc. bought a new position in shares of Illumina during the 2nd quarter valued at $33,000. Finally, WealthCollab LLC raised its holdings in shares of Illumina by 51.5% during the 1st quarter. WealthCollab LLC now owns 303 shares of the life sciences company's stock valued at $37,000 after purchasing an additional 103 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Illumina Trading Down 8.2%

Shares of ILMN stock opened at $208.00 on Friday. Illumina, Inc. has a 12 month low of $112.65 and a 12 month high of $309.35. The company has a quick ratio of 2.05, a current ratio of 2.63 and a debt-to-equity ratio of 0.57. The business's 50 day moving average is $249.44 and its two-hundred day moving average is $177.79. The company has a market cap of $31.45 billion, a PE ratio of 35.80, a price-to-earnings-growth ratio of 3.08 and a beta of 1.46.

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

Insider Transactions at Illumina

In related news, Director Keith Meister sold 299,336 shares of the firm's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $217.96, for a total value of $65,243,274.56. Following the transaction, the director directly owned 1,409,851 shares in the company, valued at approximately $307,291,123.96. This trade represents a 17.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 1,601,541 shares of company stock valued at $354,755,291. Company insiders own 2.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ILMN shares. Canaccord Genuity Group lifted their price objective on shares of Illumina from $205.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, October 19th. UBS Group raised shares of Illumina from a "neutral" rating to a "buy" rating and increased their target price for the stock from $135.00 to $260.00 in a research report on Wednesday, September 9th. Deutsche Bank Aktiengesellschaft lowered Illumina to a "hold" rating in a report on Wednesday, August 5th. Barclays raised their target price on Illumina from $160.00 to $200.00 and gave the company an "underweight" rating in a report on Wednesday, October 7th. Finally, Citigroup boosted their price target on Illumina from $113.00 to $210.00 and gave the stock a "sell" rating in a research report on Monday. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $244.24.

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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