Financial Perspectives Inc Sells 691 Shares of Illumina, Inc. (NASDAQ:ILMN)

Financial Perspectives Inc cut its holdings in Illumina, Inc. (NASDAQ:ILMN) by 53.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 607 shares of the life sciences company’s stock after selling 691 shares during the period. Financial Perspectives Inc’s holdings in Illumina were worth $85,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. J.P. Morgan Private Wealth Advisors LLC bought a new position in Illumina in the 3rd quarter valued at $29,558,000. abrdn plc raised its position in shares of Illumina by 764.9% during the 4th quarter. abrdn plc now owns 339,023 shares of the life sciences company’s stock valued at $47,206,000 after buying an additional 299,827 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Illumina by 210.5% during the 4th quarter. International Assets Investment Management LLC now owns 48,194 shares of the life sciences company’s stock valued at $6,711,000 after buying an additional 32,672 shares in the last quarter. Aquila Investment Management LLC raised its position in shares of Illumina by 150.0% during the 4th quarter. Aquila Investment Management LLC now owns 25,000 shares of the life sciences company’s stock valued at $3,481,000 after buying an additional 15,000 shares in the last quarter. Finally, Weil Company Inc. raised its position in shares of Illumina by 59.2% during the 3rd quarter. Weil Company Inc. now owns 22,963 shares of the life sciences company’s stock valued at $3,152,000 after buying an additional 8,539 shares in the last quarter. 89.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ILMN has been the topic of several research reports. StockNews.com upgraded shares of Illumina from a “hold” rating to a “buy” rating in a research report on Friday, February 16th. TD Cowen cut shares of Illumina from an “outperform” rating to a “market perform” rating and set a $144.00 price objective on the stock. in a research report on Thursday, January 4th. OTR Global restated a “mixed” rating on shares of Illumina in a research report on Wednesday, March 20th. Barclays raised their price objective on shares of Illumina from $85.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday, April 10th. Finally, HSBC cut shares of Illumina from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Illumina presently has an average rating of “Hold” and a consensus price target of $167.70.

Illumina Price Performance

Shares of NASDAQ ILMN traded up $4.21 during midday trading on Tuesday, hitting $124.46. 1,302,988 shares of the company traded hands, compared to its average volume of 1,745,510. Illumina, Inc. has a 12-month low of $89.00 and a 12-month high of $229.58. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.66 and a quick ratio of 1.29. The stock has a 50-day moving average price of $132.98 and a 200 day moving average price of $127.68.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Thursday, February 8th. The life sciences company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.13. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Illumina had a negative net margin of 25.78% and a positive return on equity of 2.20%. Illumina’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 earnings per share. On average, equities research analysts forecast that Illumina, Inc. will post 0.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

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