Generation Investment Management LLP lowered its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 31.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,346,862 shares of the life sciences company’s stock after selling 616,760 shares during the quarter. Illumina accounts for approximately 2.2% of Generation Investment Management LLP’s investment portfolio, making the stock its 22nd largest position. Generation Investment Management LLP’s holdings in Illumina were worth $517,276,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. CVA Family Office LLC bought a new position in Illumina during the first quarter valued at about $31,000. BDO Wealth Advisors LLC lifted its stake in Illumina by 90.5% in the 1st quarter. BDO Wealth Advisors LLC now owns 80 shares of the life sciences company’s stock worth $31,000 after acquiring an additional 38 shares in the last quarter. Evoke Wealth LLC lifted its stake in Illumina by 165.6% in the 1st quarter. Evoke Wealth LLC now owns 85 shares of the life sciences company’s stock worth $33,000 after acquiring an additional 53 shares in the last quarter. Capital Asset Advisory Services LLC purchased a new stake in Illumina in the 4th quarter worth about $39,000. Finally, Evolution Wealth Advisors LLC lifted its stake in Illumina by 47.0% in the 1st quarter. Evolution Wealth Advisors LLC now owns 122 shares of the life sciences company’s stock worth $47,000 after acquiring an additional 39 shares in the last quarter. 89.33% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ ILMN traded up $5.53 during mid-day trading on Thursday, reaching $486.38. 3,575 shares of the company traded hands, compared to its average volume of 544,607. The company has a current ratio of 4.45, a quick ratio of 4.16 and a debt-to-equity ratio of 0.34. The stock has a market cap of $71.01 billion, a PE ratio of 112.95 and a beta of 0.95. The company’s fifty day moving average is $442.12. Illumina, Inc. has a fifty-two week low of $260.42 and a fifty-two week high of $555.77.
In other Illumina news, SVP Susan H. Tousi sold 300 shares of the firm’s stock in a transaction that occurred on Monday, June 28th. The stock was sold at an average price of $478.95, for a total value of $143,685.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Alexander Aravanis sold 539 shares of the firm’s stock in a transaction that occurred on Wednesday, July 7th. The stock was sold at an average price of $477.59, for a total value of $257,421.01. The disclosure for this sale can be found here. Insiders sold a total of 10,953 shares of company stock worth $4,362,737 in the last ninety days. Insiders own 0.23% of the company’s stock.
ILMN has been the subject of several research analyst reports. Zacks Investment Research raised Illumina from a “hold” rating to a “buy” rating and set a $504.00 price objective for the company in a research note on Wednesday, June 30th. Canaccord Genuity increased their price objective on Illumina from $460.00 to $470.00 and gave the stock a “buy” rating in a research note on Wednesday, April 28th. Atlantic Securities downgraded Illumina from an “overweight” rating to a “neutral” rating and set a $390.00 price objective for the company. in a research note on Wednesday, March 31st. Wells Fargo & Company raised their price target on Illumina from $330.00 to $340.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 28th. Finally, Barclays raised their price target on Illumina from $300.00 to $355.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 13th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $382.89.
Illumina, Inc provides sequencing and array-based solutions for genetic and genomic analysis. Its products and services serve customers in a range of markets enabling the adoption of genomic solutions in research and clinical settings for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments.
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