Procyon Advisors LLC Reduces Stock Holdings in Illumina, Inc. (NASDAQ:ILMN)

Procyon Advisors LLC trimmed its position in Illumina, Inc. (NASDAQ:ILMN) by 48.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,033 shares of the life sciences company’s stock after selling 5,773 shares during the period. Procyon Advisors LLC’s holdings in Illumina were worth $840,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its holdings in shares of Illumina by 1.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,689 shares of the life sciences company’s stock valued at $746,000 after purchasing an additional 54 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Illumina by 28.6% in the first quarter. Geneos Wealth Management Inc. now owns 270 shares of the life sciences company’s stock worth $94,000 after buying an additional 60 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its stake in shares of Illumina by 1.6% in the second quarter. Silvercrest Asset Management Group LLC now owns 4,078 shares of the life sciences company’s stock worth $765,000 after buying an additional 64 shares during the last quarter. Ancora Advisors LLC boosted its stake in shares of Illumina by 11.6% in the first quarter. Ancora Advisors LLC now owns 800 shares of the life sciences company’s stock worth $186,000 after buying an additional 83 shares during the last quarter. Finally, Dakota Wealth Management boosted its stake in shares of Illumina by 13.8% in the first quarter. Dakota Wealth Management now owns 826 shares of the life sciences company’s stock worth $288,000 after buying an additional 100 shares during the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Jacob Thaysen purchased 7,330 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were purchased at an average price of $135.29 per share, with a total value of $991,675.70. Following the purchase, the chief executive officer now directly owns 14,861 shares of the company’s stock, valued at approximately $2,010,544.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is currently owned by insiders.

Illumina Trading Down 0.7 %

Shares of ILMN stock traded down $1.04 during trading hours on Thursday, reaching $137.64. 95,614 shares of the company’s stock were exchanged, compared to its average volume of 1,772,366. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 1.66. The company’s 50 day moving average is $138.29 and its two-hundred day moving average is $129.31. Illumina, Inc. has a 1 year low of $89.00 and a 1 year high of $233.42.

Illumina (NASDAQ:ILMN) last issued its earnings results on Thursday, February 8th. The life sciences company reported $0.14 earnings per share for the quarter, topping 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 business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company posted $0.14 EPS. The business’s quarterly revenue was up 3.6% on a year-over-year basis. Analysts anticipate that Illumina, Inc. will post 0.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ILMN. Barclays increased their price target on Illumina from $50.00 to $80.00 and gave the stock an “underweight” rating in a research report on Thursday, January 25th. OTR Global restated a “mixed” rating on shares of Illumina in a research report on Wednesday, March 20th. Scotiabank raised Illumina from a “sector perform” rating to a “sector outperform” rating and set a $185.00 price target for the company in a report on Monday, December 18th. Stephens reaffirmed an “overweight” rating and issued a $170.00 price target on shares of Illumina in a report on Wednesday, February 14th. Finally, HSBC cut Illumina from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $166.95.

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.