Putnam Investments LLC Cuts Position in Illumina, Inc. (NASDAQ:ILMN)

Putnam Investments LLC decreased its holdings in Illumina, Inc. (NASDAQ:ILMN) by 66.9% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 126,489 shares of the life sciences company’s stock after selling 255,479 shares during the period. Putnam Investments LLC owned approximately 0.08% of Illumina worth $29,415,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Polen Capital Management LLC raised its holdings in Illumina by 11.7% in the fourth quarter. Polen Capital Management LLC now owns 5,048,402 shares of the life sciences company’s stock valued at $1,020,787,000 after buying an additional 527,005 shares during the period. Alliancebernstein L.P. raised its holdings in Illumina by 145.8% in the fourth quarter. Alliancebernstein L.P. now owns 3,869,403 shares of the life sciences company’s stock valued at $782,393,000 after buying an additional 2,294,942 shares during the period. Geode Capital Management LLC raised its holdings in Illumina by 1.9% in the first quarter. Geode Capital Management LLC now owns 2,928,326 shares of the life sciences company’s stock valued at $679,269,000 after buying an additional 54,951 shares during the period. Price T Rowe Associates Inc. MD grew its position in Illumina by 268.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,113,230 shares of the life sciences company’s stock valued at $427,295,000 after acquiring an additional 1,539,186 shares in the last quarter. Finally, Select Equity Group L.P. grew its position in Illumina by 22.5% in the fourth quarter. Select Equity Group L.P. now owns 1,912,714 shares of the life sciences company’s stock valued at $386,751,000 after acquiring an additional 351,701 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Illumina Stock Performance

Illumina stock opened at $150.49 on Friday. The company has a market cap of $23.82 billion, a PE ratio of -5.66, a P/E/G ratio of 8.58 and a beta of 1.12. The company has a fifty day moving average price of $175.90 and a two-hundred day moving average price of $197.76. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.40 and a quick ratio of 1.13. Illumina, Inc. has a 12 month low of $147.57 and a 12 month high of $248.87.

Illumina (NASDAQ:ILMN) last posted its earnings results on Wednesday, August 9th. The life sciences company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.30. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Illumina had a positive return on equity of 1.97% and a negative net margin of 93.86%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $0.57 earnings per share. Research analysts expect that Illumina, Inc. will post 0.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ILMN shares. Royal Bank of Canada lowered their price objective on shares of Illumina from $337.00 to $328.00 and set an “outperform” rating for the company in a research report on Tuesday, August 8th. Piper Sandler lowered their price objective on shares of Illumina from $290.00 to $275.00 and set an “overweight” rating for the company in a research report on Tuesday, August 15th. Citigroup lowered their price objective on shares of Illumina from $180.00 to $150.00 and set a “sell” rating for the company in a research report on Thursday, August 10th. UBS Group lowered their price objective on shares of Illumina from $240.00 to $230.00 and set a “neutral” rating for the company in a research report on Tuesday, August 8th. Finally, Stifel Nicolaus decreased their price target on shares of Illumina from $265.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Illumina presently has a consensus rating of “Hold” and a consensus price target of $236.05.

Insider Buying and Selling at Illumina

In other Illumina news, SVP Susan H. Tousi sold 500 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $167.04, for a total value of $83,520.00. Following the sale, the senior vice president now directly owns 45,524 shares in the company, valued at $7,604,328.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 1,500 shares of company stock worth $278,560. 0.13% of the stock is owned by insiders.

About Illumina

Illumina, Inc develops, manufactures, and markets life science tools and integrated systems for large-scale analysis of genetic variation and function. 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; and whole-genome sequencing kits, which sequence entire genomes of any size and complexity, and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.