Shares of Illumina Inc. (NASDAQ:ILMN) saw strong trading volume on Tuesday . 1,150,362 shares were traded during trading, a decline of 16% from the previous session’s volume of 1,362,342 shares.The stock last traded at $137.49 and had previously closed at $140.73.

Several analysts have recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Illumina from $140.00 to $130.00 and set an “equal weight” rating for the company in a report on Tuesday, May 3rd. Citigroup Inc. reaffirmed a “buy” rating and set a $175.00 price objective (down previously from $210.00) on shares of Illumina in a report on Wednesday, May 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $160.00 price objective (down previously from $215.00) on shares of Illumina in a report on Wednesday, May 4th. Canaccord Genuity reaffirmed a “hold” rating and set a $140.00 price objective (down previously from $160.00) on shares of Illumina in a report on Wednesday, May 4th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $165.00 price objective on shares of Illumina in a report on Wednesday, May 4th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Illumina presently has a consensus rating of “Hold” and a consensus price target of $167.94.

The stock has a market cap of $20.59 billion and a P/E ratio of 50.29. The firm has a 50-day moving average of $141.19 and a 200-day moving average of $153.43.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Tuesday, May 3rd. The life sciences company reported $0.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by $0.03. The firm had revenue of $572 million for the quarter, compared to the consensus estimate of $596.33 million. During the same period in the previous year, the business posted $0.91 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts predict that Illumina Inc. will post $3.38 earnings per share for the current fiscal year.

In related news, VP Paul L. Bianchi sold 1,884 shares of the stock in a transaction on Monday, April 18th. The shares were sold at an average price of $175.00, for a total transaction of $329,700.00. Following the transaction, the vice president now directly owns 65,660 shares of the company’s stock, valued at $11,490,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jay T. Flatley sold 20,000 shares of the stock in a transaction on Tuesday, April 12th. The stock was sold at an average price of $170.05, for a total transaction of $3,401,000.00. Following the transaction, the chief executive officer now directly owns 508,061 shares in the company, valued at $86,395,773.05. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have added to or reduced their stakes in the company. Stephens Investment Management Group LLC raised its position in Illumina by 2.4% in the fourth quarter. Stephens Investment Management Group LLC now owns 129,835 shares of the life sciences company’s stock worth $24,921,000 after buying an additional 3,000 shares during the period. I.G. Investment Management LTD. raised its position in Illumina by 0.8% in the fourth quarter. I.G. Investment Management LTD. now owns 49,382 shares of the life sciences company’s stock worth $9,479,000 after buying an additional 414 shares during the period. Cibc World Markets Corp raised its position in Illumina by 1,820.9% in the fourth quarter. Cibc World Markets Corp now owns 192,324 shares of the life sciences company’s stock worth $36,916,000 after buying an additional 182,312 shares during the period. Atlanta Capital Group raised its position in Illumina by 12.2% in the fourth quarter. Atlanta Capital Group now owns 11,210 shares of the life sciences company’s stock worth $2,152,000 after buying an additional 1,218 shares during the period. Finally, Baker Chad R acquired a new position in Illumina during the fourth quarter worth $2,414,000.

Illumina, Inc (Illumina) offers sequencing and array-based solutions for genetic analysis. The Company’s products and services serve customers in a range of markets, enabling the adoption of genomic solutions in research and clinical settings. The Company’s customers include genomic research centers, academic institutions, government laboratories and hospitals, as well as pharmaceutical, biotechnology, agrigenomics and commercial molecular diagnostic laboratories, and consumer genomics companies.

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