Select Equity Group L.P. Trims Stake in Illumina, Inc. (NASDAQ:ILMN)

Select Equity Group L.P. lessened its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 13.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 955,950 shares of the life sciences company’s stock after selling 149,220 shares during the quarter. Select Equity Group L.P.’s holdings in Illumina were worth $99,782,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Gryphon Financial Partners LLC boosted its stake in shares of Illumina by 22.1% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,807 shares of the life sciences company’s stock valued at $252,000 after buying an additional 327 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Illumina by 134.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 17,316 shares of the life sciences company’s stock valued at $2,411,000 after buying an additional 9,918 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Illumina by 6.6% during the 4th quarter. Stifel Financial Corp now owns 52,447 shares of the life sciences company’s stock valued at $7,303,000 after acquiring an additional 3,269 shares during the period. Treasurer of the State of North Carolina boosted its stake in shares of Illumina by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 72,176 shares of the life sciences company’s stock worth $10,050,000 after acquiring an additional 690 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC purchased a new stake in shares of Illumina during the 4th quarter worth approximately $333,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ILMN has been the subject of several research reports. StockNews.com started coverage on Illumina in a report on Thursday, August 29th. They set a “buy” rating for the company. Robert W. Baird lifted their price target on Illumina from $119.00 to $124.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $242.00 price objective on shares of Illumina in a research report on Wednesday, August 14th. Daiwa America upgraded shares of Illumina to a “strong-buy” rating in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Illumina from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $151.05.

Illumina Price Performance

Shares of NASDAQ:ILMN opened at $132.27 on Friday. The company has a market cap of $21.07 billion, a P/E ratio of -16.23 and a beta of 1.15. The business has a fifty day simple moving average of $126.04 and a 200-day simple moving average of $120.50. Illumina, Inc. has a 52 week low of $89.00 and a 52 week high of $148.19. 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 (NASDAQ:ILMN) last issued its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company earned $0.32 EPS. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. Equities research analysts forecast that Illumina, Inc. will post 3.63 EPS for the current year.

About Illumina

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.