Two Sigma Advisers LP Trims Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Two Sigma Advisers LP lessened its stake in Illumina, Inc. (NASDAQ:ILMN) by 78.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,800 shares of the life sciences company’s stock after selling 673,900 shares during the period. Two Sigma Advisers LP’s holdings in Illumina were worth $24,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Bleakley Financial Group LLC acquired a new stake in shares of Illumina in the 4th quarter valued at about $751,000. Van ECK Associates Corp lifted its stake in Illumina by 17.5% in the fourth quarter. Van ECK Associates Corp now owns 152,265 shares of the life sciences company’s stock valued at $20,347,000 after buying an additional 22,718 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in Illumina in the fourth quarter valued at approximately $1,464,000. Allworth Financial LP boosted its holdings in shares of Illumina by 720.7% in the fourth quarter. Allworth Financial LP now owns 7,132 shares of the life sciences company’s stock valued at $1,001,000 after acquiring an additional 6,263 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Illumina during the fourth quarter worth approximately $448,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Hsbc Global Res downgraded shares of Illumina from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Robert W. Baird lowered their price objective on shares of Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. TD Cowen cut shares of Illumina from a “buy” rating to a “hold” rating and reduced their target price for the company from $177.00 to $140.00 in a report on Friday, February 7th. Barclays decreased their target price on shares of Illumina from $100.00 to $77.00 and set an “underweight” rating for the company in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. lowered their price target on Illumina from $120.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $128.15.

Illumina Stock Performance

Shares of ILMN stock opened at $84.21 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. The stock has a 50 day simple moving average of $78.46 and a 200-day simple moving average of $110.24. The company has a market cap of $13.33 billion, a price-to-earnings ratio of -10.96, a price-to-earnings-growth ratio of 1.60 and a beta of 1.35. Illumina, Inc. has a 12-month low of $68.70 and a 12-month high of $156.66.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data 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. Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. Illumina’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities analysts forecast that Illumina, Inc. will post 4.51 EPS for the current year.

Insider Transactions at Illumina

In related news, CFO Ankur Dhingra purchased 6,100 shares of Illumina stock in a transaction dated Monday, May 12th. The stock was bought at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the transaction, the chief financial officer now owns 24,906 shares in the company, valued at approximately $2,022,616.26. The trade was a 32.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.60% of the company’s stock.

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.