Grove Bank & Trust Trims Stake in Illumina, Inc. (NASDAQ:ILMN)

Grove Bank & Trust reduced its position in Illumina, Inc. (NASDAQ:ILMN) by 92.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 409 shares of the life sciences company’s stock after selling 5,268 shares during the period. Grove Bank & Trust’s holdings in Illumina were worth $57,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ILMN. Louisiana State Employees Retirement System purchased a new stake in Illumina during the 4th quarter valued at approximately $3,091,000. WCM Investment Management LLC raised its stake in Illumina by 4,288.0% during the 4th quarter. WCM Investment Management LLC now owns 144,803 shares of the life sciences company’s stock valued at $20,581,000 after acquiring an additional 141,503 shares during the last quarter. Aquila Investment Management LLC raised its stake in Illumina by 150.0% during the 4th quarter. Aquila Investment Management LLC now owns 25,000 shares of the life sciences company’s stock valued at $3,481,000 after acquiring an additional 15,000 shares during the last quarter. Ingalls & Snyder LLC purchased a new stake in Illumina during the 4th quarter valued at approximately $2,349,000. Finally, Perigon Wealth Management LLC raised its stake in Illumina by 3.3% during the 4th quarter. Perigon Wealth Management LLC now owns 4,414 shares of the life sciences company’s stock valued at $615,000 after acquiring an additional 142 shares during the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Trading Down 4.7 %

Shares of Illumina stock opened at $121.16 on Tuesday. Illumina, Inc. has a fifty-two week low of $89.00 and a fifty-two week high of $232.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.66 and a quick ratio of 1.29. The business’s fifty day moving average is $135.35 and its two-hundred day moving average is $128.35.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Thursday, February 8th. The life sciences company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.13. Illumina had a positive return on equity of 2.20% and a negative net margin of 25.78%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm earned $0.14 EPS. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, research analysts predict that Illumina, Inc. will post 0.91 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $253.00 target price on shares of Illumina in a research report on Tuesday, April 9th. HSBC cut Illumina from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Scotiabank upgraded Illumina from a “sector perform” rating to a “sector outperform” rating and set a $185.00 target price on the stock in a research report on Monday, December 18th. Stephens reiterated an “overweight” rating and set a $170.00 target price on shares of Illumina in a research report on Wednesday, April 10th. Finally, TD Cowen cut Illumina from an “outperform” rating to a “market perform” rating and set a $144.00 target price on the stock. in a research report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $167.70.

Insider Activity at Illumina

In other Illumina news, CEO Jacob Thaysen bought 7,330 shares of the stock in a transaction dated Thursday, February 22nd. The stock was bought at an average cost of $135.29 per share, for a total transaction of $991,675.70. Following the completion of the purchase, the chief executive officer now directly owns 14,861 shares of the company’s stock, valued at $2,010,544.69. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.17% of the stock is owned by insiders.

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.