State Board of Administration of Florida Retirement System lessened its stake in Illumina, Inc. (NASDAQ:ILMN) by 2.5% in the second quarter, HoldingsChannel reports. The firm owned 199,760 shares of the life sciences company’s stock after selling 5,160 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Illumina were worth $55,791,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ILMN. Kaizen Advisory LLC increased its holdings in shares of Illumina by 161.0% in the 2nd quarter. Kaizen Advisory LLC now owns 368 shares of the life sciences company’s stock valued at $103,000 after purchasing an additional 227 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Illumina in the 1st quarter valued at about $113,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Illumina by 3,192.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 428 shares of the life sciences company’s stock valued at $120,000 after purchasing an additional 415 shares in the last quarter. Hall Laurie J Trustee increased its holdings in shares of Illumina by 189.5% in the 2nd quarter. Hall Laurie J Trustee now owns 550 shares of the life sciences company’s stock valued at $154,000 after purchasing an additional 360 shares in the last quarter. Finally, Cornerstone Wealth Management LLC purchased a new position in shares of Illumina in the 2nd quarter valued at about $188,000. Institutional investors and hedge funds own 90.80% of the company’s stock.

In other Illumina news, Director Karin Eastham sold 1,000 shares of the firm’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $269.80, for a total transaction of $269,800.00. Following the sale, the director now directly owns 13,088 shares of the company’s stock, valued at approximately $3,531,142.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Francis A. Desouza sold 2,100 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $327.41, for a total transaction of $687,561.00. Following the sale, the insider now directly owns 77,935 shares in the company, valued at $25,516,698.35. The disclosure for this sale can be found here. Insiders have sold a total of 43,381 shares of company stock valued at $12,338,431 over the last 90 days. 0.54% of the stock is currently owned by insiders.

A number of equities analysts have recently issued reports on ILMN shares. Citigroup increased their price target on shares of Illumina from $275.00 to $330.00 and gave the company a “buy” rating in a report on Monday, June 25th. Zacks Investment Research upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $270.00 price target for the company in a report on Monday, April 16th. Canaccord Genuity reiterated a “buy” rating and issued a $340.00 price target (up previously from $330.00) on shares of Illumina in a report on Friday, July 27th. Deutsche Bank increased their price target on shares of Illumina from $280.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Finally, BidaskClub downgraded shares of Illumina from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Illumina has a consensus rating of “Buy” and an average price target of $303.53.

Illumina opened at $330.25 on Monday, Marketbeat.com reports. The company has a quick ratio of 2.44, a current ratio of 2.74 and a debt-to-equity ratio of 0.22. Illumina, Inc. has a twelve month low of $189.15 and a twelve month high of $341.08. The stock has a market cap of $48.55 billion, a price-to-earnings ratio of 82.56, a price-to-earnings-growth ratio of 2.76 and a beta of 0.97.

Illumina (NASDAQ:ILMN) last posted its earnings results on Monday, July 30th. The life sciences company reported $1.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.32. Illumina had a net margin of 20.88% and a return on equity of 26.64%. The firm had revenue of $830.00 million during the quarter, compared to the consensus estimate of $786.88 million. During the same period last year, the firm posted $0.82 EPS. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis. research analysts forecast that Illumina, Inc. will post 5.41 EPS for the current year.

Illumina Company Profile

Illumina, Inc provides sequencing and array-based solutions for genetic analysis. The company operates in two segments, Core Illumina and Consolidated VIEs. It offers sequencing by synthesis technology that provides researchers with various applications and the ability to sequence mammalian genomes; and arrays for a range of deoxyribonucleic acid and RNA analysis applications, including single nucleotide polymorphism genotyping, copy number variations analysis, gene expression analysis, and methylation analysis, as well as allow the detection of known genetic markers on a single array.

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Institutional Ownership by Quarter for Illumina (NASDAQ:ILMN)

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