Swedbank AB Sells 140,772 Shares of Illumina, Inc. (NASDAQ:ILMN)

Swedbank AB reduced its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 24.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 435,876 shares of the life sciences company’s stock after selling 140,772 shares during the period. Swedbank AB’s holdings in Illumina were worth $56,843,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ILMN. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Illumina during the second quarter worth approximately $34,000. Versant Capital Management Inc raised its position in shares of Illumina by 292.9% during the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after acquiring an additional 246 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in Illumina by 65.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock worth $56,000 after buying an additional 168 shares during the last quarter. Focused Wealth Management Inc bought a new stake in Illumina in the third quarter valued at approximately $63,000. Finally, Hollencrest Capital Management acquired a new stake in Illumina during the 3rd quarter worth $63,000. 89.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ILMN shares. Stephens increased their price objective on shares of Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Morgan Stanley restated an “equal weight” rating and set a $156.00 target price on shares of Illumina in a report on Tuesday, November 12th. Robert W. Baird raised their price objective on Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. HSBC upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Thursday, October 17th. Finally, Leerink Partners lifted their target price on Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $164.00.

Illumina Trading Up 2.3 %

NASDAQ ILMN opened at $140.14 on Monday. The firm’s fifty day moving average price is $140.61 and its two-hundred day moving average price is $124.94. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. Illumina, Inc. has a fifty-two week low of $93.51 and a fifty-two week high of $156.66.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. Illumina’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS. As a group, sell-side analysts forecast that Illumina, Inc. will post 4.11 earnings per share 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.