Illumina, Inc. (NASDAQ:ILMN) Stock Holdings Trimmed by Royal Bank of Canada

Royal Bank of Canada trimmed its holdings in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 26.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 344,543 shares of the life sciences company's stock after selling 121,109 shares during the period. Royal Bank of Canada owned 0.22% of Illumina worth $46,040,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in Illumina in the 4th quarter worth about $32,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Illumina in the 4th quarter worth about $45,000. Assetmark Inc. boosted its stake in 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 buying an additional 296 shares during the last quarter. Lee Danner & Bass Inc. acquired a new stake in Illumina in the 4th quarter worth about $48,000. Finally, V Square Quantitative Management LLC boosted its stake in Illumina by 50.6% in the 4th quarter. V Square Quantitative Management LLC now owns 393 shares of the life sciences company's stock worth $52,000 after buying an additional 132 shares during the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Illumina

In related news, CFO Ankur Dhingra acquired 6,100 shares of Illumina stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the transaction, the chief financial officer now directly owns 24,906 shares of the company's stock, valued at $2,022,616.26. This trade represents a 32.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ILMN shares. TD Cowen downgraded Illumina from a "buy" rating to a "hold" rating and cut their price objective for the stock from $177.00 to $140.00 in a report on Friday, February 7th. JPMorgan Chase & Co. cut their price objective on Illumina from $120.00 to $85.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Canaccord Genuity Group cut their price objective on Illumina from $92.00 to $87.00 and set a "hold" rating on the stock in a report on Monday, May 12th. Royal Bank of Canada cut their price objective on Illumina from $128.00 to $112.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. Finally, Citigroup cut their price objective on Illumina from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Illumina presently has an average rating of "Moderate Buy" and a consensus target price of $128.15.

Illumina Stock Up 1.7%

NASDAQ ILMN traded up $1.34 during mid-day trading on Tuesday, reaching $81.71. 420,022 shares of the company's stock traded hands, compared to its average volume of 2,319,104. Illumina, Inc. has a 1-year low of $68.70 and a 1-year high of $156.66. The company has a fifty day simple moving average of $78.04 and a 200-day simple moving average of $107.89. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. The company has a market cap of $12.94 billion, a price-to-earnings ratio of -10.60, a P/E/G ratio of 1.60 and a beta of 1.35.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its earnings results on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. 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 EPS. As a group, equities research analysts expect that Illumina, Inc. will post 4.51 EPS 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.