Massachusetts Financial Services Co. MA Sells 705,627 Shares of Illumina, Inc. (NASDAQ:ILMN)

Massachusetts Financial Services Co. MA decreased its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 86.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,177 shares of the life sciences company's stock after selling 705,627 shares during the period. Massachusetts Financial Services Co. MA owned 0.07% of Illumina worth $8,900,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ILMN. Diversified Trust Co bought a new stake in shares of Illumina during the first quarter worth approximately $355,000. State of Alaska Department of Revenue raised its position in shares of Illumina by 2.5% during the 1st quarter. State of Alaska Department of Revenue now owns 18,527 shares of the life sciences company's stock valued at $1,469,000 after acquiring an additional 445 shares during the last quarter. Merit Financial Group LLC lifted its stake in shares of Illumina by 344.8% in the 1st quarter. Merit Financial Group LLC now owns 13,036 shares of the life sciences company's stock valued at $1,034,000 after purchasing an additional 10,105 shares during the period. Trexquant Investment LP lifted its stake in shares of Illumina by 16.7% in the 4th quarter. Trexquant Investment LP now owns 142,977 shares of the life sciences company's stock valued at $19,106,000 after purchasing an additional 20,506 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Illumina by 15.1% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 516,293 shares of the life sciences company's stock worth $40,963,000 after purchasing an additional 67,676 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Ankur Dhingra acquired 6,100 shares of the stock in a transaction on Monday, May 12th. The stock was acquired 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 directly owned 24,906 shares in the company, valued at approximately $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 Stock Down 1.8%

ILMN opened at $96.14 on Friday. The stock's fifty day simple moving average is $89.22 and its 200 day simple moving average is $94.93. Illumina, Inc. has a 1-year low of $68.70 and a 1-year high of $156.66. The stock has a market cap of $15.22 billion, a PE ratio of -15.84, a price-to-earnings-growth ratio of 1.88 and a beta of 1.36. The company has a current ratio of 1.86, a quick ratio of 1.48 and a debt-to-equity ratio of 0.63.

Illumina (NASDAQ:ILMN - Get Free Report) last announced 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 25.54% and a negative net margin of 22.25%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the company earned $0.98 earnings per share. The firm's quarterly revenue was down 1.4% compared to the same quarter last year. As a group, research analysts expect that Illumina, Inc. will post 4.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ILMN shares. Citigroup lowered shares of Illumina from a "hold" rating to a "strong sell" rating and reduced their price objective for the stock from $85.00 to $80.00 in a research note on Wednesday, July 9th. Barclays reissued an "underweight" rating and set a $85.00 price target (up from $77.00) on shares of Illumina in a research report on Tuesday, June 24th. Stephens restated an "overweight" rating and issued a $105.00 price objective on shares of Illumina in a research report on Tuesday, May 20th. JPMorgan Chase & Co. reduced their target price on Illumina from $120.00 to $85.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Finally, Royal Bank Of Canada decreased their target price on Illumina from $128.00 to $112.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Illumina currently has a consensus rating of "Hold" and an average target price of $125.11.

About Illumina

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.

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