USS Investment Management Ltd Cuts Holdings in Illumina, Inc. (NASDAQ:ILMN)

USS Investment Management Ltd decreased its stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 30.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,430 shares of the life sciences company's stock after selling 16,563 shares during the period. USS Investment Management Ltd's holdings in Illumina were worth $5,003,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Merit Financial Group LLC bought a new position in shares of Illumina during the fourth quarter valued at $392,000. HB Wealth Management LLC raised its stake in shares of Illumina by 31.5% during the fourth quarter. HB Wealth Management LLC now owns 3,608 shares of the life sciences company's stock valued at $482,000 after acquiring an additional 864 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Illumina by 25.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 535 shares of the life sciences company's stock valued at $71,000 after acquiring an additional 109 shares during the last quarter. Ballentine Partners LLC bought a new position in shares of Illumina during the fourth quarter valued at $268,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of Illumina by 14.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 24,396 shares of the life sciences company's stock valued at $3,260,000 after acquiring an additional 3,102 shares during the last quarter. Institutional investors own 89.42% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ILMN shares. Hsbc Global Res downgraded shares of Illumina from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 28th. TD Cowen downgraded shares of Illumina from a "buy" rating to a "hold" rating and dropped their price target for the company from $177.00 to $140.00 in a research note on Friday, February 7th. Piper Sandler dropped their price target on shares of Illumina from $190.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, May 15th. Robert W. Baird dropped their price target on shares of Illumina from $127.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Illumina from $120.00 to $85.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $128.15.

Insider Transactions at Illumina

In other Illumina news, CFO Ankur Dhingra bought 6,100 shares of Illumina stock in a transaction dated Monday, May 12th. The stock was purchased at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the completion of the purchase, the chief financial officer now directly owns 24,906 shares of the company's stock, valued at approximately $2,022,616.26. This trade represents a 32.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.60% of the company's stock.

Illumina Stock Performance

ILMN stock traded up $0.36 during mid-day trading on Wednesday, hitting $82.85. The company had a trading volume of 616,148 shares, compared to its average volume of 2,319,299. The firm has a market cap of $13.11 billion, a PE ratio of -10.78, a price-to-earnings-growth ratio of 1.60 and a beta of 1.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. Illumina, Inc. has a 12 month low of $68.70 and a 12 month high of $156.66. The stock's fifty day moving average price is $78.00 and its two-hundred day moving average price is $107.72.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. The company's revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. On average, analysts forecast that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Illumina 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.