Bank of Nova Scotia Reduces Stake in Illumina, Inc. (ILMN)
Bank of Nova Scotia lessened its position in Illumina, Inc. (NASDAQ:ILMN) by 55.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,262 shares of the life sciences company’s stock after selling 47,940 shares during the period. Bank of Nova Scotia’s holdings in Illumina were worth $6,640,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Penserra Capital Management LLC grew its holdings in shares of Illumina by 13.0% in the 2nd quarter. Penserra Capital Management LLC now owns 884 shares of the life sciences company’s stock worth $153,000 after acquiring an additional 102 shares during the last quarter. Paradigm Asset Management Co. LLC grew its holdings in shares of Illumina by 5.6% in the 2nd quarter. Paradigm Asset Management Co. LLC now owns 950 shares of the life sciences company’s stock worth $165,000 after acquiring an additional 50 shares during the last quarter. Patten Group Inc. grew its holdings in shares of Illumina by 2.7% in the 1st quarter. Patten Group Inc. now owns 965 shares of the life sciences company’s stock worth $166,000 after acquiring an additional 25 shares during the last quarter. NN Investment Partners Holdings N.V. grew its holdings in shares of Illumina by 11.3% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 985 shares of the life sciences company’s stock worth $171,000 after acquiring an additional 100 shares during the last quarter. Finally, Elefante Mark B grew its holdings in shares of Illumina by 3.7% in the 2nd quarter. Elefante Mark B now owns 1,253 shares of the life sciences company’s stock worth $218,000 after acquiring an additional 45 shares during the last quarter. 93.32% of the stock is currently owned by institutional investors.
In other Illumina news, SVP Charles Dadswell sold 145 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $205.71, for a total transaction of $29,827.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jay T. Flatley sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $170.77, for a total transaction of $2,561,550.00. Following the sale, the director now owns 534,176 shares of the company’s stock, valued at $91,221,235.52. The disclosure for this sale can be found here. Insiders have sold 197,766 shares of company stock valued at $38,972,884 over the last 90 days. Company insiders own 1.60% of the company’s stock.
A number of equities analysts recently issued reports on ILMN shares. Vetr cut Illumina from a “strong-buy” rating to a “buy” rating and set a $197.84 target price on the stock. in a report on Wednesday, June 21st. Barclays PLC restated a “hold” rating and issued a $150.00 target price on shares of Illumina in a report on Wednesday, July 19th. Canaccord Genuity restated a “buy” rating and issued a $230.00 target price (up from $215.00) on shares of Illumina in a report on Thursday. BidaskClub cut Illumina from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $226.00 target price (up from $202.00) on shares of Illumina in a report on Monday, October 9th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $190.50.
Illumina, Inc. (NASDAQ ILMN) opened at 206.92 on Friday. The company’s 50-day moving average price is $204.85 and its 200 day moving average price is $185.82. Illumina, Inc. has a 52 week low of $119.37 and a 52 week high of $214.34. The company has a market capitalization of $30.21 billion, a price-to-earnings ratio of 41.52 and a beta of 0.76.
Illumina (NASDAQ:ILMN) last issued its earnings results on Tuesday, August 1st. The life sciences company reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.14. The business had revenue of $662.00 million during the quarter, compared to the consensus estimate of $642.38 million. Illumina had a net margin of 30.27% and a return on equity of 19.69%. Illumina’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the business posted $0.86 EPS. On average, analysts predict that Illumina, Inc. will post $3.65 EPS for the current year.
Illumina Company Profile
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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