Illumina, Inc. (NASDAQ:ILMN) Shares Sold by Biondo Investment Advisors LLC

Biondo Investment Advisors LLC lowered its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 11.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 69,166 shares of the life sciences company’s stock after selling 9,156 shares during the quarter. Biondo Investment Advisors LLC’s holdings in Illumina were worth $9,243,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ILMN. Bleakley Financial Group LLC acquired a new stake in shares of Illumina in the fourth quarter worth $751,000. Zacks Investment Management acquired a new stake in Illumina during the 3rd quarter worth about $2,924,000. Van ECK Associates Corp raised its stake 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 during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Illumina in the 4th quarter valued at about $1,464,000. Finally, Allworth Financial LP boosted its stake in shares of Illumina by 720.7% in the fourth quarter. Allworth Financial LP now owns 7,132 shares of the life sciences company’s stock worth $1,001,000 after buying an additional 6,263 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Illumina Stock Down 2.8 %

Shares of NASDAQ ILMN opened at $80.00 on Friday. The stock has a market cap of $12.67 billion, a PE ratio of -10.42, a P/E/G ratio of 1.60 and a beta of 1.17. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. Illumina, Inc. has a 12-month low of $79.30 and a 12-month high of $156.66. The company has a 50-day moving average of $102.80 and a 200 day moving average of $126.79.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. As a group, sell-side analysts predict that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Citigroup reduced their price target on Illumina from $130.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Canaccord Genuity Group cut their target price on shares of Illumina from $135.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday, March 11th. TD Cowen downgraded shares of Illumina from a “buy” rating to a “hold” rating and lowered their price target for the stock from $177.00 to $140.00 in a report on Friday, February 7th. Morgan Stanley cut their price objective on shares of Illumina from $150.00 to $136.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. Finally, Hsbc Global Res lowered shares of Illumina from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $140.90.

Illumina 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.