Park Avenue Securities LLC Cuts Stock Holdings in Illumina, Inc. (NASDAQ:ILMN)

Park Avenue Securities LLC reduced its position in Illumina, Inc. (NASDAQ:ILMN) by 32.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,038 shares of the life sciences company’s stock after selling 2,967 shares during the period. Park Avenue Securities LLC’s holdings in Illumina were worth $479,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new position in shares of Illumina in the fourth quarter worth $40,000. Assetmark Inc. increased its holdings in Illumina by 954.8% in the 4th quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock worth $44,000 after buying an additional 296 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Illumina in the 4th quarter worth about $45,000. Lee Danner & Bass Inc. purchased a new position in Illumina in the 4th quarter worth about $48,000. Finally, V Square Quantitative Management LLC lifted its stake in Illumina by 50.6% during the 4th quarter. V Square Quantitative Management LLC now owns 393 shares of the life sciences company’s stock valued at $52,000 after acquiring an additional 132 shares during the period. 89.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ILMN has been the subject of several research reports. Stephens reissued an “overweight” rating and set a $105.00 price objective on shares of Illumina in a report on Tuesday, May 20th. Citigroup decreased their target price on shares of Illumina from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Hsbc Global Res cut Illumina from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Guggenheim cut their price objective on Illumina from $122.00 to $114.00 and set a “buy” rating for the company in a report on Friday, May 9th. Finally, Robert W. Baird reduced their price objective on Illumina from $127.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $126.94.

Insiders Place Their Bets

In related news, CFO Ankur Dhingra acquired 6,100 shares of Illumina stock in a transaction dated Monday, May 12th. The shares were purchased at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the completion of the transaction, the chief financial officer now directly owns 24,906 shares in the company, valued at approximately $2,022,616.26. This represents a 32.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Illumina Stock Down 1.4%

Shares of ILMN stock opened at $86.93 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42. Illumina, Inc. has a one year low of $68.70 and a one year high of $156.66. The company’s fifty day moving average price is $79.08 and its 200-day moving average price is $102.64. The company has a market capitalization of $13.76 billion, a price-to-earnings ratio of -11.32, a PEG ratio of 1.60 and a beta of 1.32.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Thursday, May 8th. The life sciences company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. Sell-side analysts expect that Illumina, Inc. will post 4.51 EPS for the current fiscal 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.