Nissay Asset Management Corp Japan ADV Cuts Stake in Illumina, Inc. (NASDAQ:ILMN)

Nissay Asset Management Corp Japan ADV lessened its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 39.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,155 shares of the life sciences company's stock after selling 14,290 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Illumina were worth $2,997,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ILMN. Capital World Investors grew its holdings in shares of Illumina by 408.6% in the fourth quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company's stock worth $2,408,721,000 after purchasing an additional 14,481,232 shares during the last quarter. WCM Investment Management LLC grew its holdings in shares of Illumina by 26.6% in the fourth quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company's stock worth $551,625,000 after purchasing an additional 867,673 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Illumina by 0.8% in the fourth quarter. Bank of New York Mellon Corp now owns 3,402,057 shares of the life sciences company's stock worth $454,617,000 after purchasing an additional 27,618 shares during the last quarter. Brown Advisory Inc. grew its holdings in shares of Illumina by 54,220.9% in the fourth quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company's stock worth $255,586,000 after purchasing an additional 1,909,118 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Illumina in the fourth quarter worth about $228,714,000. Institutional investors own 89.42% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. TD Cowen cut shares of Illumina from a "buy" rating to a "hold" rating and dropped their target price for the stock from $177.00 to $140.00 in a report on Friday, February 7th. Barclays dropped their target price on shares of Illumina from $100.00 to $77.00 and set an "underweight" rating on the stock in a report on Thursday, April 10th. Stephens restated an "overweight" rating and issued a $105.00 price target on shares of Illumina in a report on Tuesday. Morgan Stanley lowered their price target on shares of Illumina from $136.00 to $100.00 and set an "equal weight" rating on the stock in a report on Monday, May 12th. Finally, Royal Bank of Canada lowered their price target on shares of Illumina from $128.00 to $112.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $128.15.

Insiders Place Their Bets

In related news, CFO Ankur Dhingra acquired 6,100 shares of Illumina stock in a transaction that occurred on Monday, May 12th. The shares were purchased at an average cost 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 in the company, valued at approximately $2,022,616.26. This represents a 32.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Illumina Price Performance

ILMN traded up $1.26 on Tuesday, hitting $84.21. 1,984,525 shares of the company's stock were exchanged, compared to its average volume of 2,316,784. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $156.66. 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 firm has a 50-day moving average price of $78.46 and a 200-day moving average price of $110.42. The stock has a market cap of $13.33 billion, a price-to-earnings ratio of -10.96, a P/E/G ratio of 1.60 and a beta of 1.35.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the previous year, the company posted $0.98 EPS. The firm's quarterly revenue was down 1.4% on a year-over-year basis. As a group, equities 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.