Illumina Inc. (ILMN) Position Increased by Concert Wealth Management Inc.
Concert Wealth Management Inc. boosted its position in Illumina Inc. (NASDAQ:ILMN) by 6.6% during the second quarter, Holdings Channel reports. The firm owned 1,684 shares of the life sciences company’s stock after buying an additional 105 shares during the period. Concert Wealth Management Inc.’s holdings in Illumina were worth $236,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in ILMN. Physicians Financial Services Inc. boosted its position in Illumina by 2,121.2% in the second quarter. Physicians Financial Services Inc. now owns 733 shares of the life sciences company’s stock worth $103,000 after buying an additional 700 shares during the period. Checchi Capital Advisers LLC boosted its position in Illumina by 2.4% in the second quarter. Checchi Capital Advisers LLC now owns 958 shares of the life sciences company’s stock worth $134,000 after buying an additional 22 shares during the period. Simonbaker & Partners LLC purchased a new position in Illumina during the first quarter worth about $243,000. First Manhattan Co. boosted its position in Illumina by 90,000.0% in the second quarter. First Manhattan Co. now owns 1,802 shares of the life sciences company’s stock worth $252,000 after buying an additional 1,800 shares during the period. Finally, Cypress Asset Management Inc. TX purchased a new position in Illumina during the second quarter worth about $275,000. Hedge funds and other institutional investors own 95.22% of the company’s stock.
Illumina Inc. (NASDAQ:ILMN) traded up 0.61% during mid-day trading on Friday, hitting $138.00. 1,468,694 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $171.14 and its 200-day moving average price is $156.05. The stock has a market cap of $20.23 billion, a PE ratio of 47.26 and a beta of 0.47. Illumina Inc. has a 12 month low of $127.10 and a 12 month high of $196.47.
Illumina (NASDAQ:ILMN) last released its earnings results on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.13. Illumina had a net margin of 18.73% and a return on equity of 23.69%. The firm earned $600 million during the quarter, compared to the consensus estimate of $31.91 million. During the same period in the prior year, the firm earned $0.80 EPS. The company’s revenue was up 11.3% compared to the same quarter last year. Equities analysts expect that Illumina Inc. will post $3.53 EPS for the current fiscal year.
A number of equities analysts have issued reports on ILMN shares. Vetr cut Illumina from a “strong-buy” rating to a “buy” rating and set a $167.08 target price for the company. in a report on Monday, July 18th. CL King started coverage on Illumina in a report on Tuesday, June 21st. They set a “buy” rating and a $165.00 target price for the company. Argus increased their target price on Illumina from $175.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, August 8th. Zacks Investment Research upgraded Illumina from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a report on Friday, August 26th. Finally, Citigroup Inc. raised their price objective on Illumina from $175.00 to $190.00 and gave the company a “buy” rating in a report on Monday, September 12th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $156.88.
In related news, Director Jay T. Flatley sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $172.99, for a total transaction of $3,459,800.00. Following the sale, the director now directly owns 508,061 shares in the company, valued at approximately $87,889,472.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel Bradbury sold 600 shares of the company’s stock in a transaction that occurred on Friday, October 7th. The shares were sold at an average price of $184.36, for a total transaction of $110,616.00. Following the sale, the director now owns 17,065 shares in the company, valued at $3,146,103.40. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
Illumina Company Profile
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.
Want to see what other hedge funds are holding ILMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illumina Inc. (NASDAQ:ILMN).
Receive News & Ratings for Illumina Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illumina Inc. and related companies with MarketBeat.com's FREE daily email newsletter.