Forsta AP Fonden Sells 2,500 Shares of Illumina, Inc. (NASDAQ:ILMN)

Forsta AP Fonden lowered its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 7.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,900 shares of the life sciences company’s stock after selling 2,500 shares during the quarter. Forsta AP Fonden’s holdings in Illumina were worth $3,225,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ILMN. WCM Investment Management LLC grew its stake in shares of Illumina by 2,232.3% during the first quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock valued at $463,760,000 after purchasing an additional 3,232,418 shares during the last quarter. Capital World Investors bought a new position in Illumina in the 4th quarter valued at $271,753,000. Norges Bank acquired a new stake in shares of Illumina in the 4th quarter valued at $264,636,000. Coatue Management LLC bought a new stake in shares of Illumina during the fourth quarter worth $119,285,000. Finally, Findlay Park Partners LLP acquired a new position in shares of Illumina during the first quarter valued at $100,120,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Trading Up 2.3 %

NASDAQ:ILMN opened at $129.18 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 1.04. Illumina, Inc. has a twelve month low of $89.00 and a twelve month high of $152.87. The company has a market cap of $20.58 billion, a P/E ratio of -15.85 and a beta of 1.15. The business has a 50 day moving average price of $123.36 and a two-hundred day moving average price of $120.69.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.12 by $0.24. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the prior year, the firm posted $0.32 earnings per share. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. As a group, analysts expect that Illumina, Inc. will post 3.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Daiwa Capital Markets raised Illumina from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $120.00 to $154.00 in a report on Friday, August 16th. Piper Sandler dropped their price target on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Stephens reaffirmed an “overweight” rating and issued a $170.00 price objective on shares of Illumina in a research note on Wednesday, July 10th. Scotiabank dropped their target price on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 15th. Finally, StockNews.com started coverage on Illumina in a research report on Thursday, August 29th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $151.05.

Illumina Company 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.