Rhumbline Advisers Decreases Holdings in Illumina, Inc. (NASDAQ:ILMN)

Rhumbline Advisers trimmed its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 2.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 440,041 shares of the life sciences company’s stock after selling 8,811 shares during the period. Rhumbline Advisers’ holdings in Illumina were worth $34,913,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bleakley Financial Group LLC purchased a new position in shares of Illumina during the 4th quarter valued at about $751,000. Van ECK Associates Corp raised its holdings in shares of Illumina by 17.5% during the 4th 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 in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Illumina during the 4th quarter valued at about $1,464,000. Allworth Financial LP increased its stake in Illumina by 720.7% in the 4th quarter. Allworth Financial LP now owns 7,132 shares of the life sciences company’s stock worth $1,001,000 after purchasing 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 Illumina in the 4th quarter worth approximately $448,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Trading Up 1.6%

Illumina stock opened at $83.16 on Thursday. 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 business’s fifty day simple moving average is $77.75 and its two-hundred day simple moving average is $105.41. Illumina, Inc. has a 12 month low of $68.70 and a 12 month high of $156.66. The company has a market capitalization of $13.16 billion, a price-to-earnings ratio of -10.83, a price-to-earnings-growth ratio of 1.60 and a beta of 1.35.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. As a group, equities analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on ILMN. Canaccord Genuity Group decreased their price target on Illumina from $92.00 to $87.00 and set a “hold” rating on the stock in a research note on Monday, May 12th. Barclays decreased their price target on Illumina from $100.00 to $77.00 and set an “underweight” rating on the stock in a research note on Thursday, April 10th. Hsbc Global Res cut Illumina from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Morgan Stanley decreased their price target on Illumina from $136.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Monday, May 12th. Finally, Citigroup decreased their price target on Illumina from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $128.84.

Insider Activity at Illumina

In related news, CFO Ankur Dhingra purchased 6,100 shares of Illumina stock in a transaction on Monday, May 12th. The stock was acquired at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the completion of the transaction, the chief financial officer now directly owns 24,906 shares in the company, valued at $2,022,616.26. This represents a 32.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is owned by company insiders.

About Illumina

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.