Federated Hermes Inc. Sells 40,547 Shares of Illumina, Inc. (NASDAQ:ILMN)

Federated Hermes Inc. reduced its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 93.2% in the fourth quarter, Holdings Channel reports. The firm owned 2,944 shares of the life sciences company’s stock after selling 40,547 shares during the period. Federated Hermes Inc.’s holdings in Illumina were worth $410,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Illumina during the third quarter worth about $30,000. VisionPoint Advisory Group LLC boosted its position in shares of Illumina by 344.6% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 249 shares of the life sciences company’s stock valued at $34,000 after acquiring an additional 193 shares during the last quarter. Gradient Investments LLC grew its holdings in shares of Illumina by 375.0% during the fourth quarter. Gradient Investments LLC now owns 285 shares of the life sciences company’s stock worth $40,000 after purchasing an additional 225 shares in the last quarter. North Star Investment Management Corp. increased its position in shares of Illumina by 183.0% in the fourth quarter. North Star Investment Management Corp. now owns 300 shares of the life sciences company’s stock worth $42,000 after purchasing an additional 194 shares during the last quarter. Finally, Ramirez Asset Management Inc. purchased a new stake in Illumina in the third quarter valued at approximately $48,000. Institutional investors own 89.42% of the company’s stock.

Illumina Trading Down 4.9 %

NASDAQ:ILMN opened at $117.93 on Friday. 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 company’s 50-day simple moving average is $130.03 and its 200 day simple moving average is $127.02. Illumina, Inc. has a one year low of $89.00 and a one year high of $213.91. The firm has a market capitalization of $18.78 billion, a P/E ratio of -14.47 and a beta of 1.20.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results 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. Illumina had a positive return on equity of 2.28% and a negative net margin of 28.71%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the firm earned $0.08 EPS. Illumina’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, analysts forecast that Illumina, Inc. will post 0.91 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $253.00 price target on shares of Illumina in a research note on Tuesday, April 9th. Barclays increased their target price on Illumina from $85.00 to $100.00 and gave the company an “underweight” rating in a research note on Wednesday, April 10th. HSBC lowered Illumina from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. StockNews.com lowered Illumina from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Stephens reissued an “overweight” rating and set a $170.00 price target on shares of Illumina in a research note on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $165.10.

Insider Transactions at Illumina

In related news, CEO Jacob Thaysen purchased 7,330 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were purchased at an average price of $135.29 per share, with a total value of $991,675.70. Following the acquisition, the chief executive officer now directly owns 14,861 shares in the company, valued at approximately $2,010,544.69. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company 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.