Illumina, Inc. (NASDAQ:ILMN) Shares Sold by Royal Bank of Canada

Royal Bank of Canada cut its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 26.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 344,543 shares of the life sciences company’s stock after selling 121,109 shares during the period. Royal Bank of Canada’s holdings in Illumina were worth $46,040,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Bank of Stockton increased its position in shares of Illumina by 3.8% during the fourth quarter. Bank of Stockton now owns 2,162 shares of the life sciences company’s stock worth $289,000 after purchasing an additional 80 shares in the last quarter. Stephens Inc. AR increased its position in shares of Illumina by 1.4% during the fourth quarter. Stephens Inc. AR now owns 6,623 shares of the life sciences company’s stock worth $885,000 after purchasing an additional 90 shares in the last quarter. Spire Wealth Management grew its holdings in shares of Illumina by 26.0% during the fourth quarter. Spire Wealth Management now owns 470 shares of the life sciences company’s stock valued at $63,000 after buying an additional 97 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Illumina by 19.1% during the fourth quarter. IFP Advisors Inc now owns 617 shares of the life sciences company’s stock valued at $82,000 after buying an additional 99 shares during the last quarter. Finally, Freedom Investment Management Inc. grew its holdings in shares of Illumina by 3.7% during the fourth quarter. Freedom Investment Management Inc. now owns 2,856 shares of the life sciences company’s stock valued at $382,000 after buying an additional 101 shares during the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Ankur Dhingra purchased 6,100 shares of Illumina stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the transaction, the chief financial officer now directly owns 24,906 shares in the company, valued at approximately $2,022,616.26. This trade represents a 32.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.60% of the company’s stock.

Illumina Trading Down 5.7%

Shares of Illumina stock opened at $79.37 on Thursday. The firm has a 50-day simple moving average of $78.33 and a two-hundred day simple moving average of $110.03. The company has a market cap of $12.56 billion, a P/E ratio of -10.33, a price-to-earnings-growth ratio of 1.60 and a beta of 1.35. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $156.66. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77.

Illumina (NASDAQ:ILMN) last issued 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 negative net margin of 27.95% and a positive return on equity of 13.37%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The company’s revenue was down 1.4% compared to the same quarter last year. As a group, equities analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of Illumina from $128.00 to $112.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. Guggenheim dropped their price objective on shares of Illumina from $122.00 to $114.00 and set a “buy” rating on the stock in a report on Friday, May 9th. HSBC lowered shares of Illumina from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a report on Friday, February 28th. Robert W. Baird dropped their price objective on shares of Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. Finally, TD Cowen lowered shares of Illumina from a “buy” rating to a “hold” rating and dropped their price objective for the company from $177.00 to $140.00 in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $128.15.

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.