Cary Street Partners Investment Advisory LLC Lowers Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Cary Street Partners Investment Advisory LLC trimmed its position in Illumina, Inc. (NASDAQ:ILMN) by 9.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,440 shares of the life sciences company’s stock after selling 150 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Illumina were worth $270,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clearstead Trust LLC raised its position in shares of Illumina by 125.7% during the 1st quarter. Clearstead Trust LLC now owns 158 shares of the life sciences company’s stock valued at $37,000 after purchasing an additional 88 shares during the period. BOKF NA purchased a new position in shares of Illumina in the first quarter valued at about $38,000. WealthPLAN Partners LLC bought a new position in shares of Illumina in the first quarter worth about $42,000. Brown Brothers Harriman & Co. grew its position in shares of Illumina by 460.9% during the first quarter. Brown Brothers Harriman & Co. now owns 129 shares of the life sciences company’s stock worth $45,000 after purchasing an additional 106 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in Illumina during the 1st quarter valued at approximately $51,000. Institutional investors own 92.17% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Aimee L. Hoyt sold 315 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $112.84, for a total value of $35,544.60. Following the completion of the transaction, the senior vice president now directly owns 8,314 shares of the company’s stock, valued at approximately $938,151.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Illumina Stock Performance

Shares of NASDAQ:ILMN opened at $97.61 on Tuesday. The firm has a 50 day moving average of $123.64 and a 200 day moving average of $165.31. The company has a quick ratio of 1.28, a current ratio of 1.69 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $15.50 billion, a price-to-earnings ratio of -13.71, a price-to-earnings-growth ratio of 6.66 and a beta of 1.16. Illumina, Inc. has a 52 week low of $89.00 and a 52 week high of $238.55.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, November 9th. The life sciences company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.13 by $0.20. Illumina had a negative net margin of 25.20% and a positive return on equity of 2.13%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the business posted $0.34 EPS. Illumina’s revenue was up .4% on a year-over-year basis. On average, sell-side analysts predict that Illumina, Inc. will post 0.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on ILMN. UBS Group reduced their price objective on shares of Illumina from $240.00 to $230.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 8th. JPMorgan Chase & Co. cut their price target on Illumina from $235.00 to $190.00 and set a “neutral” rating for the company in a report on Thursday, August 10th. Stifel Nicolaus reaffirmed a “buy” rating and set a $200.00 price objective on shares of Illumina in a report on Thursday, October 12th. Barclays cut their target price on shares of Illumina from $150.00 to $100.00 and set an “underweight” rating for the company in a report on Friday, September 29th. Finally, Credit Suisse Group decreased their price target on shares of Illumina from $225.00 to $200.00 and set a “neutral” rating on the stock in a research note on Thursday, August 10th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $194.56.

Illumina Profile

Illumina, Inc develops, manufactures, and markets life science tools and integrated systems for large-scale analysis of genetic variation and function. 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; and whole-genome sequencing kits, which sequence entire genomes of any size and complexity, and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.