Envestnet Asset Management Inc. grew its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 166.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 11,724 shares of the life sciences company’s stock after buying an additional 7,324 shares during the period. Envestnet Asset Management Inc.’s holdings in Illumina were worth $3,275,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Cadence Capital Management LLC raised its stake in Illumina by 3.6% during the second quarter. Cadence Capital Management LLC now owns 4,702 shares of the life sciences company’s stock worth $1,313,000 after acquiring an additional 162 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in Illumina by 1.8% during the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 10,241 shares of the life sciences company’s stock worth $2,860,000 after acquiring an additional 179 shares in the last quarter. Private Asset Management Inc. raised its stake in Illumina by 1.6% during the second quarter. Private Asset Management Inc. now owns 11,243 shares of the life sciences company’s stock worth $3,140,000 after acquiring an additional 180 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Illumina by 12.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,627 shares of the life sciences company’s stock worth $454,000 after acquiring an additional 186 shares in the last quarter. Finally, Dempze Nancy E raised its stake in Illumina by 3.7% during the second quarter. Dempze Nancy E now owns 5,432 shares of the life sciences company’s stock worth $1,517,000 after acquiring an additional 194 shares in the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO Francis A. Desouza sold 2,100 shares of the company’s stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $276.14, for a total value of $579,894.00. Following the sale, the chief executive officer now directly owns 83,282 shares in the company, valued at $22,997,491.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert S. Epstein sold 500 shares of the company’s stock in a transaction that occurred on Thursday, June 21st. The shares were sold at an average price of $288.45, for a total value of $144,225.00. Following the completion of the sale, the director now owns 6,639 shares in the company, valued at $1,915,019.55. The disclosure for this sale can be found here. Insiders sold 42,537 shares of company stock worth $13,779,035 over the last quarter. 0.54% of the stock is currently owned by company insiders.

Several research analysts have commented on the company. Cowen boosted their target price on Illumina from $275.00 to $315.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 10th. Citigroup boosted their price target on Illumina from $275.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, June 25th. Piper Jaffray Companies restated an “overweight” rating and set a $350.00 price target on shares of Illumina in a report on Tuesday, July 31st. Canaccord Genuity restated a “buy” rating and set a $340.00 price target (up from $330.00) on shares of Illumina in a report on Friday, July 27th. Finally, JPMorgan Chase & Co. boosted their price target on Illumina to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, July 31st. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Illumina has a consensus rating of “Buy” and a consensus price target of $308.25.

Shares of ILMN stock opened at $349.82 on Thursday. Illumina, Inc. has a one year low of $196.00 and a one year high of $357.93. The company has a market capitalization of $51.79 billion, a P/E ratio of 64.88, a P/E/G ratio of 2.92 and a beta of 0.97. The company has a current ratio of 2.74, a quick ratio of 2.44 and a debt-to-equity ratio of 0.22.

Illumina (NASDAQ:ILMN) last announced its earnings results on Monday, July 30th. The life sciences company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.32. Illumina had a return on equity of 26.64% and a net margin of 20.88%. The business had revenue of $830.00 million for the quarter, compared to analysts’ expectations of $786.88 million. During the same period in the prior year, the business posted $0.82 earnings per share. The firm’s revenue was up 25.4% on a year-over-year basis. sell-side analysts anticipate that Illumina, Inc. will post 5.46 EPS for the current fiscal year.

About Illumina

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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