Nisa Investment Advisors LLC Lowers Stake in Illumina, Inc. (NASDAQ:ILMN)

Nisa Investment Advisors LLC trimmed its position in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 78.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,234 shares of the life sciences company's stock after selling 19,162 shares during the period. Nisa Investment Advisors LLC's holdings in Illumina were worth $415,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ILMN. Envestnet Portfolio Solutions Inc. lifted its position in Illumina by 4.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 15,580 shares of the life sciences company's stock valued at $2,082,000 after purchasing an additional 614 shares during the period. Signaturefd LLC raised its stake in shares of Illumina by 10.4% during the 4th quarter. Signaturefd LLC now owns 1,880 shares of the life sciences company's stock worth $251,000 after buying an additional 177 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in shares of Illumina in the 4th quarter valued at approximately $924,000. Xponance Inc. boosted its stake in shares of Illumina by 6.2% in the fourth quarter. Xponance Inc. now owns 26,498 shares of the life sciences company's stock valued at $3,541,000 after buying an additional 1,556 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Illumina by 6.0% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 283,175 shares of the life sciences company's stock worth $37,841,000 after acquiring an additional 16,055 shares during the period. 89.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ILMN has been the subject of a number of recent analyst reports. Canaccord Genuity Group raised their target price on Illumina from $87.00 to $99.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Guggenheim reduced their price objective on shares of Illumina from $122.00 to $114.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Barclays restated an "underweight" rating and set a $85.00 target price (up from $77.00) on shares of Illumina in a research report on Tuesday, June 24th. Stephens reiterated an "overweight" rating and set a $105.00 price target on shares of Illumina in a research report on Tuesday, May 20th. Finally, Piper Sandler lowered their price target on Illumina from $190.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, May 15th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $125.11.

Insider Buying and Selling

In related news, CFO Ankur Dhingra bought 6,100 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average cost of $81.21 per share, with a total value 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 approximately $2,022,616.26. The trade was a 32.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.60% of the stock is owned by company insiders.

Illumina Trading Down 1.8%

Shares of ILMN traded down $1.79 on Friday, hitting $96.14. 1,874,386 shares of the stock traded hands, compared to its average volume of 2,153,598. Illumina, Inc. has a 1 year low of $68.70 and a 1 year high of $156.66. The stock's 50 day moving average is $88.82 and its two-hundred day moving average is $95.45. The firm has a market capitalization of $15.22 billion, a P/E ratio of -15.84, a P/E/G ratio of 1.90 and a beta of 1.36. The company has a quick ratio of 1.48, a current ratio of 1.86 and a debt-to-equity ratio of 0.63.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion. Illumina had a positive return on equity of 25.54% and a negative net margin of 22.25%. The business's revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 earnings per share. As a group, sell-side analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current year.

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.