Victory Capital Management Inc. Reduces Position in Illumina, Inc. (NASDAQ:ILMN)

Victory Capital Management Inc. decreased its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 5.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 126,375 shares of the life sciences company’s stock after selling 7,719 shares during the quarter. Victory Capital Management Inc.’s holdings in Illumina were worth $16,481,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. UMB Bank n.a. boosted its holdings in Illumina by 7.0% in the second quarter. UMB Bank n.a. now owns 1,341 shares of the life sciences company’s stock valued at $140,000 after acquiring an additional 88 shares during the last quarter. Integrated Advisors Network LLC boosted its holdings in Illumina by 2.0% in the third quarter. Integrated Advisors Network LLC now owns 4,484 shares of the life sciences company’s stock valued at $585,000 after acquiring an additional 90 shares during the last quarter. Carson Advisory Inc. boosted its holdings in Illumina by 3.8% in the third quarter. Carson Advisory Inc. now owns 2,757 shares of the life sciences company’s stock valued at $360,000 after acquiring an additional 102 shares during the last quarter. Institute for Wealth Management LLC. boosted its holdings in Illumina by 4.6% in the second quarter. Institute for Wealth Management LLC. now owns 2,728 shares of the life sciences company’s stock valued at $285,000 after acquiring an additional 119 shares during the last quarter. Finally, Platform Technology Partners boosted its holdings in Illumina by 4.2% in the third quarter. Platform Technology Partners now owns 3,512 shares of the life sciences company’s stock valued at $458,000 after acquiring an additional 141 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Stock Up 3.3 %

Shares of NASDAQ ILMN opened at $135.00 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. The firm has a market cap of $21.41 billion, a price-to-earnings ratio of -13.55 and a beta of 1.13. Illumina, Inc. has a 1 year low of $93.39 and a 1 year high of $156.66. The stock’s 50-day simple moving average is $140.04 and its 200-day simple moving average is $124.47.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.26. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. Illumina’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 earnings per share. As a group, equities analysts anticipate that Illumina, Inc. will post 4.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ILMN has been the topic of a number of research analyst reports. Daiwa America upgraded Illumina to a “strong-buy” rating in a report on Friday, August 16th. Morgan Stanley reissued an “equal weight” rating and issued a $156.00 price objective on shares of Illumina in a research report on Tuesday, November 12th. Daiwa Capital Markets raised Illumina from a “neutral” rating to a “buy” rating and raised their price objective for the company from $120.00 to $154.00 in a research report on Friday, August 16th. Piper Sandler cut their price objective on Illumina from $195.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Finally, Hsbc Global Res raised Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price objective on the stock in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.00.

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.