Nippon Life Insurance Co. cut its stake in shares of Illumina Inc. (NASDAQ:ILMN) by 2.3% during the third quarter, Holdings Channel reports. The fund owned 7,698 shares of the life sciences company’s stock after selling 179 shares during the period. Nippon Life Insurance Co.’s holdings in Illumina were worth $1,398,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund purchased a new position in Illumina during the third quarter valued at approximately $171,000. Patten & Patten Inc. TN purchased a new position in Illumina during the third quarter valued at approximately $211,000. Tower Bridge Advisors purchased a new position in Illumina during the third quarter valued at approximately $221,000. Private Trust Co. NA purchased a new position in Illumina during the third quarter valued at approximately $232,000. Finally, Roundview Capital LLC purchased a new position in Illumina during the second quarter valued at approximately $211,000. Institutional investors and hedge funds own 92.89% of the company’s stock.
Illumina Inc. (NASDAQ:ILMN) traded down 0.40% during trading on Thursday, hitting $160.58. 1,239,686 shares of the stock traded hands. The firm has a 50-day moving average price of $135.27 and a 200 day moving average price of $151.62. Illumina Inc. has a 12 month low of $119.37 and a 12 month high of $186.88. The firm has a market cap of $23.59 billion, a PE ratio of 53.89 and a beta of 1.16.
Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Tuesday, November 1st. The life sciences company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.87 by $0.10. The company had revenue of $607 million for the quarter, compared to the consensus estimate of $628.06 million. Illumina had a net margin of 18.72% and a return on equity of 23.76%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 EPS. On average, equities analysts forecast that Illumina Inc. will post $3.32 EPS for the current fiscal year.
Several research firms have issued reports on ILMN. Vetr downgraded Illumina from a “strong-buy” rating to a “buy” rating and set a $141.42 target price on the stock. in a research report on Tuesday, December 13th. Leerink Swann restated a “market perform” rating and set a $132.00 target price (up previously from $114.00) on shares of Illumina in a research report on Wednesday, January 11th. TheStreet downgraded Illumina from a “buy” rating to a “hold” rating in a research report on Monday, December 5th. BTIG Research restated a “hold” rating on shares of Illumina in a research report on Thursday, November 3rd. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $155.00 target price on shares of Illumina in a research report on Thursday, January 12th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $151.96.
In other news, Director Daniel Bradbury sold 600 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $136.34, for a total value of $81,804.00. Following the completion of the sale, the director now owns 17,065 shares of the company’s stock, valued at approximately $2,326,642.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Omead Ostadan sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, December 8th. The stock was sold at an average price of $121.63, for a total transaction of $364,890.00. Following the completion of the sale, the executive vice president now directly owns 52,988 shares of the company’s stock, valued at approximately $6,444,930.44. The disclosure for this sale can be found here. Insiders sold a total of 12,916 shares of company stock worth $1,761,388 over the last 90 days. Insiders own 1.60% of the company’s stock.
Illumina Company Profile
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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