Illumina, Inc. $ILMN Stock: Candriam S.C.A. Reduces Stake

Key Points

• Candriam S.C.A. reduced its Illumina stake by 58% in the third quarter, selling 80,215 shares and retaining 58,053 shares valued at about $15.9 million.
• Illumina reported quarterly earnings of $1.62 per share, beating the $1.36 analyst consensus; revenue of $1.17 billion also topped estimates and grew 4.2% year over year.
• Analysts’ consensus rating is Hold, with an average price target of $244.24. Institutional investors own 89.42% of the company’s stock.

Candriam S.C.A. cut its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 58.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 58,053 shares of the life sciences company's stock after selling 80,215 shares during the quarter. Candriam S.C.A.'s holdings in Illumina were worth $15,946,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Illumina during the 2nd quarter valued at $3,374,423,000. Plato Investment Management Ltd purchased a new stake in shares of Illumina in the 2nd quarter worth $948,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Illumina during the 2nd quarter worth $30,501,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Illumina during the 2nd quarter worth $129,792,000. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Illumina during the 2nd quarter worth $6,711,000. Institutional investors own 89.42% of the company's stock.

Illumina Price Performance

ILMN opened at $220.78 on Tuesday. The business's 50-day moving average is $249.25 and its two-hundred day moving average is $178.46. Illumina, Inc. has a 1 year low of $112.65 and a 1 year high of $309.35. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.63 and a quick ratio of 2.05. The firm has a market capitalization of $33.38 billion, a PE ratio of 38.00, a price-to-earnings-growth ratio of 3.08 and a beta of 1.46.

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

Insider Activity

In related news, Director Keith Meister sold 299,336 shares of the business's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $217.96, for a total transaction 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. The trade was a 17.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 1,601,541 shares of company stock valued at $354,755,291. 2.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on ILMN shares. TD Cowen lifted their price objective on Illumina from $210.00 to $270.00 and gave the company a "hold" rating in a report on Tuesday, October 13th. Wall Street Zen cut shares of Illumina from a "buy" rating to a "hold" rating in a report on Saturday. Stephens downgraded shares of Illumina from an "overweight" rating to an "equal weight" rating and set a $275.00 target price on the stock. in a research report on Friday, October 23rd. JPMorgan Chase & Co. cut their target price on shares of Illumina from $320.00 to $300.00 and set an "overweight" rating on the stock in a research report on Friday, October 30th. Finally, Leerink Partners boosted their price target on shares of Illumina from $220.00 to $300.00 and gave the company an "outperform" rating in a report on Tuesday, September 29th. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Illumina currently has a consensus rating of "Hold" and a consensus target price of $244.24.

Illumina Company Profile

Illumina, Inc develops and supplies technologies used to analyze genetic variation and biological function. Its products include next-generation sequencing systems, microarrays, reagents and consumables, as well as software and related services that help customers generate and interpret genomic data.

The company's technology is used in applications such as medical and population research, genetic testing, drug development, and agricultural and environmental studies. Its customers include academic and government research institutions, hospitals and clinical laboratories, biotechnology and pharmaceutical companies, and other organizations around the world.

Founded in 1998 and headquartered in San Diego, California, Illumina serves customers internationally.

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