Municipal Employees Retirement System of Michigan increased its position in Illumina, Inc. (NASDAQ:ILMN) by 1.5% during the first quarter, Holdings Channel reports. The institutional investor owned 4,740 shares of the life sciences company’s stock after buying an additional 70 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Illumina were worth $809,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Advocacy Wealth Management Services LLC bought a new stake in Illumina during the first quarter worth about $102,000. Gemmer Asset Management LLC increased its stake in Illumina by 5.7% in the first quarter. Gemmer Asset Management LLC now owns 686 shares of the life sciences company’s stock worth $117,000 after buying an additional 37 shares in the last quarter. Advisory Services Network LLC bought a new stake in Illumina during the first quarter worth about $117,000. Bronfman E.L. Rothschild L.P. increased its stake in Illumina by 3.6% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,198 shares of the life sciences company’s stock worth $204,000 after buying an additional 42 shares in the last quarter. Finally, Sapphire Star Partners LP bought a new stake in Illumina during the first quarter worth about $205,000. 96.85% of the stock is owned by institutional investors.
Shares of Illumina, Inc. (NASDAQ:ILMN) traded down 0.10% during trading on Friday, hitting $171.86. 1,245,906 shares of the company traded hands. Illumina, Inc. has a 52 week low of $119.37 and a 52 week high of $189.48. The company has a market capitalization of $25.09 billion, a price-to-earnings ratio of 34.78 and a beta of 0.76. The company has a 50 day moving average price of $179.02 and a 200 day moving average price of $162.35.
Illumina (NASDAQ:ILMN) last posted its earnings results on Tuesday, April 25th. The life sciences company reported $0.64 EPS for the quarter, meeting analysts’ consensus estimates of $0.64. The business had revenue of $598 million for the quarter, compared to the consensus estimate of $590.51 million. Illumina had a net margin of 30.75% and a return on equity of 21.21%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 EPS. On average, analysts expect that Illumina, Inc. will post $3.63 earnings per share for the current year.
Several analysts have weighed in on the stock. TheStreet raised shares of Illumina from a “c+” rating to a “b” rating in a research note on Thursday, April 6th. Leerink Swann reissued a “buy” rating on shares of Illumina in a research note on Wednesday, April 5th. Zacks Investment Research raised shares of Illumina from a “hold” rating to a “buy” rating and set a $191.00 price target for the company in a research note on Tuesday, April 4th. Vetr downgraded shares of Illumina from a “strong-buy” rating to a “buy” rating and set a $188.84 price target for the company. in a research note on Monday, March 27th. Finally, Evercore ISI raised shares of Illumina from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a research note on Monday, February 27th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $165.02.
In other Illumina news, insider Michel Bouchard sold 5,740 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $184.68, for a total transaction of $1,060,063.20. Following the transaction, the insider now owns 22,255 shares of the company’s stock, valued at approximately $4,110,053.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Charles Dadswell sold 1,609 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $187.07, for a total transaction of $300,995.63. Following the transaction, the senior vice president now directly owns 10,936 shares in the company, valued at approximately $2,045,797.52. The disclosure for this sale can be found here. Insiders have sold a total of 77,057 shares of company stock worth $13,859,634 in the last three months. Insiders own 1.60% of the company’s stock.
Illumina Company Profile
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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