Sands Capital Management LLC reduced its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 8.5% during the fourth quarter, Holdings Channel reports. The firm owned 5,713,188 shares of the life sciences company’s stock after selling 530,104 shares during the period. Illumina makes up 2.5% of Sands Capital Management LLC’s holdings, making the stock its 15th largest position. Sands Capital Management LLC owned approximately 3.89% of Illumina worth $731,517,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ProVise Management Group LLC boosted its position in shares of Illumina by 11.2% in the second quarter. ProVise Management Group LLC now owns 2,292 shares of the life sciences company’s stock worth $322,000 after buying an additional 230 shares during the period. Prudential Financial Inc. boosted its position in shares of Illumina by 0.3% in the third quarter. Prudential Financial Inc. now owns 202,670 shares of the life sciences company’s stock worth $36,817,000 after buying an additional 655 shares during the period. Gulf International Bank UK Ltd boosted its position in shares of Illumina by 0.8% in the third quarter. Gulf International Bank UK Ltd now owns 44,340 shares of the life sciences company’s stock worth $8,054,000 after buying an additional 350 shares during the period. Westpac Banking Corp bought a new position in shares of Illumina during the third quarter worth about $4,870,000. Finally, KBC Group NV boosted its position in shares of Illumina by 56.0% in the third quarter. KBC Group NV now owns 22,325 shares of the life sciences company’s stock worth $4,056,000 after buying an additional 8,017 shares during the period. 92.79% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Illumina (NASDAQ:ILMN)

Shares of Illumina, Inc. (NASDAQ:ILMN) traded down 1.22% during trading on Thursday, hitting $161.30. 1,026,531 shares of the stock were exchanged. Illumina, Inc. has a 12-month low of $119.37 and a 12-month high of $186.88. The stock has a market cap of $23.60 billion, a price-to-earnings ratio of 52.54 and a beta of 0.79. The stock’s 50 day moving average is $155.27 and its 200-day moving average is $153.40.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Tuesday, January 31st. The life sciences company reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.03. Illumina had a net margin of 19.31% and a return on equity of 22.89%. The business had revenue of $619 million for the quarter, compared to analyst estimates of $612.50 million. During the same quarter in the previous year, the business earned $0.81 earnings per share. The firm’s revenue was up 4.6% compared to the same quarter last year. Equities research analysts anticipate that Illumina, Inc. will post $3.63 EPS for the current year.

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Several analysts have recently commented on ILMN shares. CL King upgraded shares of Illumina from a “neutral” rating to a “buy” rating in a research report on Friday, January 6th. Vetr upgraded shares of Illumina from a “buy” rating to a “strong-buy” rating and set a $148.34 price target on the stock in a research report on Tuesday, January 3rd. Zacks Investment Research lowered shares of Illumina from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 19th. Bank of America Corporation upgraded shares of Illumina from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $175.00 in a research report on Tuesday, January 10th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $150.00 price target on shares of Illumina in a research report on Wednesday, January 11th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $152.77.

In related news, EVP Omead Ostadan sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, December 8th. The shares were sold at an average price of $121.63, for a total transaction of $364,890.00. Following the transaction, the executive vice president now directly owns 52,988 shares of the company’s stock, valued at $6,444,930.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel Bradbury sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $135.01, for a total transaction of $81,006.00. Following the transaction, the director now directly owns 17,065 shares in the company, valued at $2,303,945.65. The disclosure for this sale can be found here. Insiders have sold 20,698 shares of company stock worth $3,036,756 in the last 90 days. 1.60% of the stock is owned by company insiders.

About Illumina

Illumina, Inc (Illumina) offers sequencing and array-based solutions for genetic analysis. The Company’s products and services serve customers in a range of markets, enabling the adoption of genomic solutions in research and clinical settings. The Company’s customers include genomic research centers, academic institutions, government laboratories and hospitals, as well as pharmaceutical, biotechnology, agrigenomics and commercial molecular diagnostic laboratories, and consumer genomics companies.

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