Illumina, Inc. (NASDAQ:ILMN) Shares Sold by Cottage Street Advisors LLC
Cottage Street Advisors LLC decreased its stake in Illumina, Inc. (NASDAQ:ILMN) by 3.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,600 shares of the life sciences company’s stock after selling 600 shares during the period. Illumina makes up 2.0% of Cottage Street Advisors LLC’s investment portfolio, making the stock its 15th largest position. Cottage Street Advisors LLC’s holdings in Illumina were worth $2,880,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in ILMN. Advocacy Wealth Management Services LLC acquired a new position in shares of Illumina during the first quarter valued at approximately $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 valued at $117,000 after buying an additional 37 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Illumina during the first quarter valued at about $117,000. Patten Group Inc. increased its stake in Illumina by 2.7% in the first quarter. Patten Group Inc. now owns 965 shares of the life sciences company’s stock valued at $166,000 after buying an additional 25 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. increased its stake in Illumina by 11.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 985 shares of the life sciences company’s stock valued at $171,000 after buying an additional 100 shares in the last quarter. Institutional investors own 93.68% of the company’s stock.
Shares of Illumina, Inc. (ILMN) opened at 194.47 on Monday. Illumina, Inc. has a 12 month low of $119.37 and a 12 month high of $198.55. The stock’s 50 day moving average is $174.66 and its 200 day moving average is $171.89. The firm has a market cap of $28.39 billion, a PE ratio of 39.02 and a beta of 0.83.
Illumina (NASDAQ:ILMN) last released its earnings results on Tuesday, August 1st. The life sciences company reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.14. The company had revenue of $662 million during the quarter, compared to the consensus estimate of $642.38 million. Illumina had a return on equity of 19.69% and a net margin of 30.27%. Illumina’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS. Analysts forecast that Illumina, Inc. will post $3.65 EPS for the current fiscal year.
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ILMN has been the subject of several recent analyst reports. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $187.00 price objective (up from $170.00) on shares of Illumina in a report on Friday, April 14th. Vetr raised shares of Illumina from a “buy” rating to a “strong-buy” rating and set a $196.75 price objective for the company in a report on Monday, April 17th. Zacks Investment Research downgraded shares of Illumina from a “buy” rating to a “hold” rating in a report on Thursday, April 13th. Cantor Fitzgerald increased their price target on shares of Illumina from $155.00 to $170.00 and gave the company a “neutral” rating in a report on Wednesday, April 26th. Finally, BidaskClub raised shares of Illumina from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $174.38.
In other Illumina news, insider Michel Bouchard sold 3,131 shares of Illumina stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $194.97, for a total value of $610,451.07. Following the transaction, the insider now directly owns 15,777 shares of the company’s stock, valued at approximately $3,076,041.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Charles Dadswell sold 145 shares of Illumina stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $184.75, for a total value of $26,788.75. Following the completion of the transaction, the senior vice president now directly owns 10,791 shares in the company, valued at $1,993,637.25. The disclosure for this sale can be found here. Insiders sold a total of 156,770 shares of company stock valued at $28,069,728 in the last 90 days. 1.60% of the stock is currently owned by corporate insiders.
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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