Illumina, Inc. (NASDAQ:ILMN) Holdings Trimmed by M&T Bank Corp

M&T Bank Corp reduced its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 82.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,736 shares of the life sciences company’s stock after selling 31,026 shares during the period. M&T Bank Corp’s holdings in Illumina were worth $535,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Brown Advisory Inc. lifted its position in Illumina by 52.1% during the 1st quarter. Brown Advisory Inc. now owns 2,909,228 shares of the life sciences company’s stock worth $230,818,000 after acquiring an additional 996,589 shares during the last quarter. IFM Investors Pty Ltd lifted its position in Illumina by 11.4% during the 1st quarter. IFM Investors Pty Ltd now owns 32,372 shares of the life sciences company’s stock worth $2,568,000 after acquiring an additional 3,309 shares during the last quarter. GF Fund Management CO. LTD. lifted its position in Illumina by 22.0% during the 1st quarter. GF Fund Management CO. LTD. now owns 4,061 shares of the life sciences company’s stock worth $322,000 after acquiring an additional 731 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Illumina by 15.0% during the first quarter. Teacher Retirement System of Texas now owns 669,730 shares of the life sciences company’s stock valued at $53,136,000 after buying an additional 87,252 shares during the last quarter. Finally, WCM Investment Management LLC lifted its stake in shares of Illumina by 1.2% in the first quarter. WCM Investment Management LLC now owns 4,179,011 shares of the life sciences company’s stock valued at $334,321,000 after buying an additional 49,156 shares during the period. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Illumina

In related news, CFO Ankur Dhingra bought 6,100 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average price of $81.21 per share, with a total value of $495,381.00. Following the completion of the transaction, the chief financial officer owned 24,906 shares in the company, valued at $2,022,616.26. The trade was a 32.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada reduced their target price on shares of Illumina from $128.00 to $112.00 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. Citigroup lowered shares of Illumina from a “hold” rating to a “strong sell” rating and dropped their price target for the stock from $85.00 to $80.00 in a research report on Wednesday, July 9th. Stephens reissued an “overweight” rating and issued a $105.00 price target on shares of Illumina in a research report on Tuesday, May 20th. Morgan Stanley dropped their price target on shares of Illumina from $136.00 to $100.00 and set an “equal weight” rating for the company in a research report on Monday, May 12th. Finally, Evercore ISI increased their price target on shares of Illumina from $116.00 to $128.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Illumina currently has an average rating of “Hold” and an average target price of $125.11.

Illumina Price Performance

Shares of ILMN stock 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 stock has a market cap of $15.38 billion, a PE ratio of -16.00, a PEG ratio of 1.93 and a beta of 1.36. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.48 and a current ratio of 1.86. The firm’s 50 day moving average price is $88.04 and its two-hundred day moving average price is $95.69.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Illumina had a negative net margin of 22.25% and a positive return on equity of 25.54%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the firm posted $0.98 earnings per share. As a group, analysts forecast that Illumina, Inc. will post 4.51 EPS for the current year.

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.