Two Sigma Advisers LP Reduces Holdings in Illumina, Inc. (NASDAQ:ILMN)

Two Sigma Advisers LP lowered its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 78.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 181,800 shares of the life sciences company’s stock after selling 673,900 shares during the period. Two Sigma Advisers LP owned approximately 0.11% of Illumina worth $24,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Capital World Investors raised its position in Illumina by 408.6% in the fourth quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company’s stock valued at $2,408,721,000 after purchasing an additional 14,481,232 shares during the period. Brown Advisory Inc. grew its holdings in shares of Illumina by 54,220.9% during the 4th quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company’s stock worth $255,586,000 after purchasing an additional 1,909,118 shares during the period. Norges Bank acquired a new stake in shares of Illumina during the 4th quarter worth about $228,714,000. Bessemer Group Inc. raised its holdings in Illumina by 32,837.5% in the 4th quarter. Bessemer Group Inc. now owns 1,348,131 shares of the life sciences company’s stock valued at $180,152,000 after buying an additional 1,344,038 shares during the period. Finally, WCM Investment Management LLC raised its holdings in Illumina by 26.6% in the 4th quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company’s stock valued at $551,625,000 after buying an additional 867,673 shares during the period. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Analyst Ratings Changes

ILMN has been the topic of a number of research analyst reports. Royal Bank of Canada reduced their price target on shares of Illumina from $128.00 to $112.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. dropped their target price on shares of Illumina from $120.00 to $85.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Hsbc Global Res lowered Illumina from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. Barclays decreased their price target on Illumina from $100.00 to $77.00 and set an “underweight” rating on the stock in a research note on Thursday, April 10th. Finally, Piper Sandler dropped their price objective on Illumina from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday, May 15th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Illumina currently has an average rating of “Moderate Buy” and an average target price of $128.15.

Insider Buying and Selling

In other Illumina news, CFO Ankur Dhingra bought 6,100 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were acquired at an average price of $81.21 per share, with a total value of $495,381.00. Following the transaction, the chief financial officer now owns 24,906 shares of the company’s stock, valued at approximately $2,022,616.26. The trade was a 32.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.60% of the company’s stock.

Illumina Stock Performance

Shares of Illumina stock opened at $84.21 on Wednesday. The business has a 50-day simple moving average of $78.46 and a 200-day simple moving average of $110.24. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. Illumina, Inc. has a one year low of $68.70 and a one year high of $156.66. The company has a market cap of $13.33 billion, a PE ratio of -10.96, a P/E/G ratio of 1.60 and a beta of 1.35.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities research analysts forecast that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

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.