Illumina, Inc. (ILMN) Position Lifted by Riverhead Capital Management LLC
Riverhead Capital Management LLC increased its stake in Illumina, Inc. (NASDAQ:ILMN) by 20.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,313 shares of the life sciences company’s stock after purchasing an additional 397 shares during the period. Riverhead Capital Management LLC’s holdings in Illumina were worth $401,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of ILMN. Penserra Capital Management LLC boosted its stake in Illumina by 13.0% in the second quarter. Penserra Capital Management LLC now owns 884 shares of the life sciences company’s stock valued at $153,000 after buying an additional 102 shares in the last quarter. Paradigm Asset Management Co. LLC boosted its stake in Illumina by 5.6% in the second quarter. Paradigm Asset Management Co. LLC now owns 950 shares of the life sciences company’s stock valued at $165,000 after buying an additional 50 shares in the last quarter. Patten Group Inc. boosted its stake in Illumina by 2.7% in the first quarter. Patten Group Inc. now owns 965 shares of the life sciences company’s stock valued at $166,000 after buying an additional 25 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its stake in Illumina by 11.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 985 shares of the life sciences company’s stock valued at $171,000 after buying an additional 100 shares in the last quarter. Finally, Probity Advisors Inc. acquired a new stake in Illumina in the first quarter valued at about $204,000. Institutional investors own 93.32% of the company’s stock.
Several research firms recently weighed in on ILMN. Vetr raised Illumina from a “buy” rating to a “strong-buy” rating and set a $197.84 price objective on the stock in a research note on Tuesday, June 27th. BidaskClub lowered Illumina from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Zacks Investment Research lowered Illumina from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $250.00 price objective on shares of Illumina in a research note on Wednesday, August 2nd. Finally, First Analysis raised Illumina from an “underweight” rating to an “equal weight” rating and set a $176.00 price objective on the stock in a research note on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $182.15.
In other Illumina news, SVP Charles Dadswell sold 145 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $174.24, for a total value of $25,264.80. Following the completion of the sale, the senior vice president now owns 10,646 shares in the company, valued at approximately $1,854,959.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Michel Bouchard sold 616 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $200.00, for a total value of $123,200.00. Following the completion of the sale, the chief accounting officer now owns 15,161 shares of the company’s stock, valued at approximately $3,032,200. The disclosure for this sale can be found here. Insiders have sold a total of 175,188 shares of company stock valued at $33,870,937 over the last 90 days. 1.60% of the stock is currently owned by company insiders.
Shares of Illumina, Inc. (NASDAQ:ILMN) opened at 201.41 on Friday. The company has a market capitalization of $29.41 billion, a P/E ratio of 40.41 and a beta of 0.81. Illumina, Inc. has a one year low of $119.37 and a one year high of $214.34. The firm has a 50-day moving average price of $199.76 and a 200-day moving average price of $181.17.
Illumina (NASDAQ:ILMN) last issued its earnings results on Tuesday, August 1st. The life sciences company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.14. The company had revenue of $662.00 million during the quarter, compared to analysts’ expectations of $642.38 million. Illumina had a return on equity of 19.69% and a net margin of 30.27%. Illumina’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 EPS. Equities analysts forecast that Illumina, Inc. will post $3.65 earnings per share for the current year.
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Illumina, Inc (Illumina) is a provider of sequencing- and array-based solutions for genetic analysis. The Company operates through two segments: Core Illumina and the consolidated variable interest entities (VIEs), which include the activities of GRAIL, Inc (GRAIL) and Helix Holdings I, LLC (Helix). Core Illumina consists of its core operations.
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