Short Interest in Illumina, Inc. (NASDAQ:ILMN) Declines By 9.7%

Illumina, Inc. (NASDAQ:ILMN - Get Free Report) was the recipient of a large decrease in short interest in April. As of April 30th, there was short interest totalling 4,760,000 shares, a decrease of 9.7% from the April 15th total of 5,270,000 shares. Based on an average daily trading volume, of 1,690,000 shares, the days-to-cover ratio is presently 2.8 days.

Analyst Ratings Changes

ILMN has been the topic of a number of research analyst reports. Royal Bank of Canada restated an "outperform" rating and issued a $253.00 target price on shares of Illumina in a research note on Tuesday, April 9th. Robert W. Baird upped their target price on shares of Illumina from $125.00 to $128.00 and gave the stock a "neutral" rating in a research note on Friday, May 3rd. Barclays upped their target price on shares of Illumina from $85.00 to $100.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 10th. Scotiabank dropped their target price on shares of Illumina from $185.00 to $176.00 and set a "sector outperform" rating on the stock in a research note on Monday, May 6th. Finally, StockNews.com upgraded shares of Illumina from a "hold" rating to a "buy" rating in a research note on Saturday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $164.65.

Illumina Price Performance

ILMN stock traded down $0.57 during trading on Wednesday, hitting $115.01. The stock had a trading volume of 1,243,697 shares, compared to its average volume of 1,730,134. Illumina has a twelve month low of $89.00 and a twelve month high of $213.91. The stock has a market capitalization of $18.32 billion, a P/E ratio of -13.97 and a beta of 1.20. The company's 50-day moving average price is $126.48 and its two-hundred day moving average price is $126.88. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.36.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. The firm had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.05 billion. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. Illumina's revenue was down 1.0% compared to the same quarter last year. During the same period last year, the business earned $0.08 earnings per share. As a group, research analysts predict that Illumina will post 0.87 EPS for the current fiscal year.

Insider Activity

In other Illumina news, CEO Jacob Thaysen bought 7,330 shares of the firm's stock in a transaction dated Thursday, February 22nd. The shares were purchased at an average cost of $135.29 per share, for a total transaction of $991,675.70. Following the transaction, the chief executive officer now owns 14,861 shares of the company's stock, valued at $2,010,544.69. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.17% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Trivant Custom Portfolio Group LLC boosted its stake in shares of Illumina by 166.7% in the first quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company's stock valued at $27,000 after purchasing an additional 125 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Illumina in the third quarter worth approximately $30,000. VisionPoint Advisory Group LLC lifted its stake in Illumina by 344.6% in the third quarter. VisionPoint Advisory Group LLC now owns 249 shares of the life sciences company's stock worth $34,000 after acquiring an additional 193 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new position in Illumina in the fourth quarter worth approximately $37,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Illumina by 86.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company's stock worth $39,000 after acquiring an additional 132 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company's stock.

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.

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