Frontier Capital Management Co. LLC Reduces Holdings in Illumina, Inc. (ILMN)
Frontier Capital Management Co. LLC cut its holdings in Illumina, Inc. (NASDAQ:ILMN) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 423,876 shares of the life sciences company’s stock after selling 11,844 shares during the quarter. Frontier Capital Management Co. LLC owned about 0.29% of Illumina worth $84,436,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Dupont Capital Management Corp bought a new stake in Illumina in the third quarter worth about $153,000. Andra AP fonden raised its holdings in Illumina by 12.3% during the 3rd quarter. Andra AP fonden now owns 7,300 shares of the life sciences company’s stock worth $1,454,000 after buying an additional 800 shares during the period. Howland Capital Management LLC acquired a new stake in Illumina during the 3rd quarter worth about $1,058,000. Essex Investment Management Co. LLC raised its holdings in Illumina by 6.8% during the 3rd quarter. Essex Investment Management Co. LLC now owns 12,433 shares of the life sciences company’s stock worth $2,477,000 after buying an additional 792 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in Illumina by 110.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 19,210 shares of the life sciences company’s stock worth $3,827,000 after buying an additional 10,068 shares during the period. Hedge funds and other institutional investors own 93.04% of the company’s stock.
Several analysts have issued reports on ILMN shares. Leerink Swann restated an “outperform” rating and set a $225.00 price objective (up previously from $207.00) on shares of Illumina in a report on Tuesday, September 12th. Piper Jaffray Companies restated an “overweight” rating and set a $226.00 price objective (up previously from $202.00) on shares of Illumina in a report on Monday, October 9th. Morgan Stanley restated an “underweight” rating and set a $122.00 price objective (up previously from $115.00) on shares of Illumina in a report on Monday, July 10th. Vetr upgraded Illumina from a “hold” rating to a “buy” rating and set a $217.50 price objective on the stock in a report on Tuesday, September 19th. Finally, BidaskClub downgraded Illumina from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $200.88.
Illumina, Inc. (NASDAQ:ILMN) traded up $5.17 during trading on Friday, reaching $213.99. The company had a trading volume of 635,172 shares, compared to its average volume of 773,434. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.73 and a current ratio of 4.22. The company has a market capitalization of $31.24 billion, a PE ratio of 61.06, a price-to-earnings-growth ratio of 3.45 and a beta of 0.74. Illumina, Inc. has a fifty-two week low of $119.37 and a fifty-two week high of $214.50.
Illumina (NASDAQ:ILMN) last issued its earnings results on Tuesday, October 24th. The life sciences company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.12. The firm had revenue of $714.00 million for the quarter, compared to analysts’ expectations of $692.77 million. Illumina had a return on equity of 19.42% and a net margin of 30.34%. The company’s revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.97 earnings per share. research analysts predict that Illumina, Inc. will post 3.75 earnings per share for the current fiscal year.
In related news, EVP Omead Ostadan sold 1,671 shares of Illumina stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $195.26, for a total value of $326,279.46. Following the sale, the executive vice president now owns 24,571 shares of the company’s stock, valued at approximately $4,797,733.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Marc Stapley sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $206.88, for a total value of $413,760.00. Following the transaction, the executive vice president now directly owns 34,579 shares in the company, valued at approximately $7,153,703.52. The disclosure for this sale can be found here. In the last three months, insiders sold 168,026 shares of company stock worth $34,234,070. 1.60% of the stock is owned by insiders.
Illumina, Inc (Illumina) is a provider of sequencing- and array-based solutions for genetic analysis. The Company operates through two segments: Core Illumina and the consolidated variable interest entities (VIEs), which include the activities of GRAIL, Inc (GRAIL) and Helix Holdings I, LLC (Helix). Core Illumina consists of its core operations.
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