Skandinaviska Enskilda Banken AB publ Has $3.90 Million Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Key Points

• Skandinaviska Enskilda Banken AB reduced its position in Illumina, Inc. by 16.6%, holding 49,142 shares valued at approximately $3.9 million after selling 9,755 shares.
• Most analysts have given Illumina a mixed rating with an average target price of $125.89, while Barclays rated it as "underweight" with a price objective of $85.00.
• Illumina reported a quarterly revenue of $1.04 billion, with earnings of $0.97 per share, beating estimates but reflecting a 1.4% decline compared to the prior year.

Skandinaviska Enskilda Banken AB publ cut its holdings in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 16.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,142 shares of the life sciences company's stock after selling 9,755 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Illumina were worth $3,899,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Wilkins Investment Counsel Inc. raised its stake in shares of Illumina by 36.3% in the first quarter. Wilkins Investment Counsel Inc. now owns 138,208 shares of the life sciences company's stock valued at $10,965,000 after purchasing an additional 36,822 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Illumina by 2,292.9% during the first quarter. Pacer Advisors Inc. now owns 565,680 shares of the life sciences company's stock worth $44,881,000 after purchasing an additional 542,040 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Illumina during the first quarter worth $559,000. Cetera Investment Advisers grew its holdings in shares of Illumina by 13.7% during the first quarter. Cetera Investment Advisers now owns 26,280 shares of the life sciences company's stock worth $2,085,000 after purchasing an additional 3,173 shares during the last quarter. Finally, Mendel Money Management boosted its holdings in Illumina by 22.1% in the first quarter. Mendel Money Management now owns 3,668 shares of the life sciences company's stock valued at $291,000 after acquiring an additional 663 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Illumina

In other news, CFO Ankur Dhingra bought 6,100 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average price of $81.21 per share, with a total value of $495,381.00. Following the transaction, the chief financial officer owned 24,906 shares in the company, valued at $2,022,616.26. This represents a 32.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays raised their price target on Illumina from $85.00 to $90.00 and gave the company an "underweight" rating in a report on Friday. Scotiabank cut Illumina from a "sector outperform" rating to a "sector perform" rating and set a $125.00 price target on the stock. in a report on Friday, July 11th. Evercore ISI raised their price target on Illumina from $116.00 to $128.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Royal Bank Of Canada raised their price target on Illumina from $118.00 to $126.00 and gave the company an "outperform" rating in a report on Friday. Finally, Stephens restated an "overweight" rating and set a $105.00 target price on shares of Illumina in a report on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $127.21.

Illumina Stock Down 6.5%

Shares of NASDAQ ILMN traded down $6.72 during mid-day trading on Friday, reaching $96.00. 2,270,097 shares of the company's stock were exchanged, compared to its average volume of 2,395,114. The firm has a market capitalization of $15.20 billion, a price-to-earnings ratio of -15.82, a PEG ratio of 2.08 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. The business has a fifty day simple moving average of $93.52 and a 200 day simple moving average of $93.18. Illumina, Inc. has a twelve month low of $68.70 and a twelve month high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its earnings results on Thursday, July 31st. The life sciences company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.17. Illumina had a positive return on equity of 25.54% and a negative net margin of 22.25%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the firm earned $0.36 EPS. Illumina's revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, equities analysts expect that Illumina, Inc. will post 4.51 EPS for the current fiscal 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.