Rhumbline Advisers Decreases Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Rhumbline Advisers cut its holdings in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 2.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 440,041 shares of the life sciences company's stock after selling 8,811 shares during the quarter. Rhumbline Advisers owned 0.28% of Illumina worth $34,913,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Golden State Wealth Management LLC purchased a new position in shares of Illumina in the fourth quarter worth $32,000. Fourth Dimension Wealth LLC bought a new stake in shares of Illumina during the 4th quarter valued at $40,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Illumina in the 4th quarter worth about $45,000. Assetmark Inc. raised its position in shares of Illumina by 954.8% in the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company's stock worth $44,000 after purchasing an additional 296 shares during the last quarter. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Illumina in the 4th quarter worth about $48,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Illumina

In related news, CFO Ankur Dhingra purchased 6,100 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were bought at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the acquisition, the chief financial officer now owns 24,906 shares of the company's stock, valued at approximately $2,022,616.26. This represents a 32.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ILMN. Guggenheim decreased their target price on Illumina from $122.00 to $114.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Citigroup reduced their price target on shares of Illumina from $90.00 to $85.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Morgan Stanley cut their price objective on Illumina from $136.00 to $100.00 and set an "equal weight" rating for the company in a research note on Monday, May 12th. HSBC downgraded Illumina from a "buy" rating to a "hold" rating and set a $100.00 price target for the company. in a research note on Friday, February 28th. Finally, Hsbc Global Res downgraded Illumina from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $128.84.

Illumina Price Performance

Shares of NASDAQ ILMN traded up $0.41 during midday trading on Friday, reaching $82.66. 1,614,255 shares of the stock traded hands, compared to its average volume of 2,288,830. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42. The stock has a market capitalization of $13.09 billion, a PE ratio of -10.76, a P/E/G ratio of 1.60 and a beta of 1.32. Illumina, Inc. has a one year low of $68.70 and a one year high of $156.66. The company's 50 day moving average is $77.90 and its 200 day moving average is $104.30.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its earnings results on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. The company's quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 EPS. On average, equities research analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current year.

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.