Envestnet Asset Management Inc. Reduces Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Envestnet Asset Management Inc. lowered its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 9.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 314,823 shares of the life sciences company’s stock after selling 34,020 shares during the period. Envestnet Asset Management Inc. owned about 0.20% of Illumina worth $24,978,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital World Investors grew its position in Illumina by 408.6% during the 4th quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company’s stock valued at $2,408,721,000 after purchasing an additional 14,481,232 shares during the last quarter. Brown Advisory Inc. boosted its holdings in shares of Illumina by 54,220.9% during the 4th quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company’s stock valued at $255,586,000 after acquiring an additional 1,909,118 shares during the last quarter. Norges Bank purchased a new position in shares of Illumina in the fourth quarter worth approximately $228,714,000. Bessemer Group Inc. boosted its holdings in shares of Illumina by 32,837.5% in the fourth quarter. Bessemer Group Inc. now owns 1,348,131 shares of the life sciences company’s stock worth $180,152,000 after buying an additional 1,344,038 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Illumina by 2,057.5% in the first quarter. Assenagon Asset Management S.A. now owns 922,281 shares of the life sciences company’s stock worth $73,174,000 after buying an additional 879,533 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Insider Buying and Selling

In other Illumina news, CFO Ankur Dhingra bought 6,100 shares of Illumina stock in a transaction dated Monday, May 12th. The stock was acquired at an average cost of $81.21 per share, with a total value of $495,381.00. Following the purchase, the chief financial officer directly owned 24,906 shares in the company, valued at $2,022,616.26. This represents a 32.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Illumina Stock Performance

ILMN opened at $97.15 on Wednesday. Illumina, Inc. has a 52-week low of $68.70 and a 52-week high of $156.66. The company has a quick ratio of 1.48, a current ratio of 1.86 and a debt-to-equity ratio of 0.63. The company has a market cap of $15.38 billion, a P/E ratio of -16.00, a price-to-earnings-growth ratio of 1.93 and a beta of 1.36. The firm’s 50-day moving average price is $88.04 and its 200-day moving average price is $95.69.

Illumina (NASDAQ:ILMN) last issued its 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 firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Illumina had a positive return on equity of 25.54% and a negative net margin of 22.25%. Illumina’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 earnings per share. As a group, equities analysts anticipate that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Scotiabank cut shares of Illumina from a “sector outperform” rating to a “sector perform” rating and set a $125.00 price objective on the stock. in a research report on Friday, July 11th. Barclays reaffirmed an “underweight” rating and set a $85.00 price objective (up from $77.00) on shares of Illumina in a research note on Tuesday, June 24th. Guggenheim dropped their price objective on shares of Illumina from $122.00 to $114.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Canaccord Genuity Group lifted their price objective on shares of Illumina from $87.00 to $99.00 and gave the stock a “hold” rating in a research note on Wednesday, June 11th. Finally, Piper Sandler dropped their price objective on shares of Illumina from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday, May 15th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Illumina presently has an average rating of “Hold” and a consensus price target of $125.11.

Illumina 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.