Bessemer Group Inc. Trims Holdings in Illumina, Inc. (NASDAQ:ILMN)

Bessemer Group Inc. trimmed its holdings in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 99.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,419 shares of the life sciences company's stock after selling 1,340,712 shares during the quarter. Bessemer Group Inc.'s holdings in Illumina were worth $588,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Capital World Investors raised its stake in shares of Illumina by 408.6% during the fourth 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 in the last quarter. Brown Advisory Inc. raised its position 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 purchasing an additional 1,909,118 shares in the last quarter. Norges Bank purchased a new stake in shares of Illumina in the 4th quarter worth $228,714,000. Northern Trust Corp increased its stake in shares of Illumina by 26.9% during the fourth quarter. Northern Trust Corp now owns 1,652,935 shares of the life sciences company's stock valued at $220,882,000 after buying an additional 349,878 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Illumina by 2.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,292,407 shares of the life sciences company's stock valued at $172,704,000 after purchasing an additional 32,270 shares during the period. Hedge funds and other institutional investors own 89.42% of the company's stock.

Illumina Price Performance

ILMN stock traded up $0.10 during mid-day trading on Friday, reaching $100.44. 1,423,748 shares of the company's stock were exchanged, compared to its average volume of 2,144,110. 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 stock's 50 day moving average is $84.58 and its 200 day moving average is $98.02. The company has a market cap of $15.90 billion, a price-to-earnings ratio of -16.55, a price-to-earnings-growth ratio of 1.97 and a beta of 1.36.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion. Illumina had a negative net margin of 22.25% and a positive return on equity of 25.54%. The firm's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 EPS. On average, research analysts expect that Illumina, Inc. will post 4.51 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on ILMN. Canaccord Genuity Group boosted their price target on Illumina from $87.00 to $99.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Piper Sandler dropped their target price 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. Royal Bank Of Canada dropped their price objective on shares of Illumina from $128.00 to $112.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. cut their target price on Illumina from $120.00 to $85.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Finally, Guggenheim lowered their price target on Illumina from $122.00 to $114.00 and set a "buy" rating for the company in a research report on Friday, May 9th. One 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $127.39.

Insider Buying and Selling at Illumina

In other news, CFO Ankur Dhingra purchased 6,100 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the completion of the transaction, the chief financial officer owned 24,906 shares of the company's stock, valued at $2,022,616.26. This trade represents a 32.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by company insiders.

Illumina Company 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.